Press Releases

TGS market update

SKER, NORWAY (8 July 2013) - Based on current and forecasted activity levels, TGS expects annual multi-client investments and prefunding levels to be slightly lower than originally communicated in January 2013. Multi-client investments in Q2 are expected to be approximately USD 110 million corresponding to USD 236 million year to date. The Q2 investments had an average pre-funding ratio of 39% (42% year to date). Based on a review of the investment plans for the remainder of the year, TGS expects total investments of USD 520 - 590 million with a pre-funding ratio of 40% - 50%. Originally the guidance was investments of USD 530 - 600 million with average pre-funding of 50% - 60%. As a result of the revised investment plan, net revenues for 2013 are expected to be USD 920 - 1000 million.

Net revenues in Q2 are expected to be USD 210 million, reflecting continued strong demand for the TGS data library. 

The revised guidance is as follows:

  • Multi-client investments  520 - 590 MUSD
  • Average pre-funding 40 - 50%
  • Average multi-client amortization rate 40 - 46%
  • Net revenues  920 - 1000 MUSD
  • Contract revenues approximately 5% of total revenues


The full 2nd quarter earnings release is scheduled for 1 August 2013