In addition to our extensive global geophysical and geological data libraries, we also offer advanced processing and imaging services, interpretation products, and robust data-application integration. Access the industry’s largest volume of geoscience data through TGS’ cloud-based web portal, R360.R360 Login
TGS places great emphasis on providing accurate and timely information to the market and shareholders. Our flexible, asset-light business model and ability to adjust costs rapidly continue to allow us to deliver significant shareholder value—even in a difficult market.Learn More
It is our vision to become the leading energy information company with the best people, quality and service. Our unique culture, people and quality library will ensure that when E&P companies think geoscientific data, they think TGS.Discover How
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Our most important competitive advantage is our people. The outstanding work of our project developers, geologists, geoscientists, data processors, sales and support people has made TGS the leading multi-client player. They’re the reason TGS delivers superior project quality and financial performance year after year.Discover How
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ASKER, NORWAY (23 April 2015) - TGS reported net revenues of USD 172 million in Q1 2015, compared to USD 222 million in Q1 2014. Net late sales were weaker than anticipated at USD 72 million, reflecting a deterioration in seismic demand as energy companies significantly reduced exploration spending. Record high cash flow from operations of USD 260 million contributed to a cash balance of USD 352 million at the end of the quarter.
1st QUARTER HIGHLIGHTS
"Net revenues in Q1 were lower than our expectations due to weaker late sales from the data library in all geographic regions. Demand for seismic data has significantly deteriorated over the first three months of 2015 and the outlook for improvement in the market remains quite uncertain. On a positive note, cash flow in Q1 was strong and the Company has a cash balance of USD 352 million as of 31 March 2015. TGS continues to be uniquely positioned within our industry with a strong balance sheet combined with a flexible asset-light business model," TGS' CEO Robert Hobbs stated.
To access TGS Q1 2015 results information click below:
Q1 2015 Conference Call
CEO Robert Hobbs and COO/Interim CFO Kristian Johansen will host a conference call on 23 April 2015 at 15:00 CET (9:00 AM New York time). Attendees may want to call 5-10 minutes before 15:00 CET (9:00 AM NY) to ensure registration and access.
Participants will need to quote the following confirmation code when dialing into the conference: 629507.
A Q&A session will follow a short introduction, based upon the presentation issued in the morning. To pose a question, please press *1.
A replay of the conference call will be available shortly after. To access replay of the TGS conference call,
A replay of the conference call will also be available at www.tgs.com.