Press Releases

Q4 2018 Revenue Update

ASKER, NORWAY (9 January 2019) - Based on preliminary reporting from operating units, TGS management expects net revenues for the fourth quarter of 2018 to be approximately USD 188 million.

“Q4 2018 was another strong quarter for TGS with 20% revenue growth. This marks the end of a successful year characterized by strong cash flow, industry leading returns and year-on-year growth in revenues of 26%. While the oil price volatility had some impact on clients’ year-end spending, our diversified data library continued to deliver strong growth. With oil prices currently trading below $60 per barrel, there continues to be some uncertainty on 2019 E&P spending, particularly offshore. However, I’m confident that our quality data library and pipeline of new projects position TGS for another successful year,” says Kristian Johansen, CEO of TGS.