TGS Posts Record Q3 Revenue

October 8, 2019

© DedMityay / Adobe Stock
© DedMityay / Adobe Stock

Norway's TGS, a supplier of seismic data to the global oil industry, reported record third-quarter revenues on Tuesday, beating both its own and analysts' forecasts, the company said.

So-called net segment revenues hit $277 million for the July-September period, while the company had predicted it would be in excess of $250 million.

"We are now extremely pleased to be able to deliver our best third-quarter sales performance ever, and the second-best quarter in TGS history, with pro-forma net revenues coming in above both our own internal expectations and the average analyst estimate of $263 million," it said.

Forecasts published by Refinitiv separately confirmed the average expectation among analysts of $263 million.

The company did not provide a year-ago comparison.


(Reporting by Terje Solsvik, Editing by Gwladys Fouche and Muralikumar Anantharaman)



Current News

Keppel Delivers Jackup to Borr Drilling

Keppel Delivers Jackup to Borr Drilling

TechnipFMC Wins EPC Contract from PetroVietnam

TechnipFMC Wins EPC Contract from PetroVietnam

Denmark to Help Vietnam for Offshore Wind

Denmark to Help Vietnam for Offshore Wind

Crown Estate Opens Offshore Wind Round 4

Crown Estate Opens Offshore Wind Round 4

Boa Offshore Wins AHTS Contracts

Boa Offshore Wins AHTS Contracts

ProPetro Cuts Almost 150 Workers

ProPetro Cuts Almost 150 Workers

Greenpeace Activists Climb Shell North Sea Platform

Magazine

Offshore Engineer (Sep/Oct 2019)

This issue of Offshore Engineer is dedicated to Big Data and Digitalization

Archive
Subscribe

Subscribe for OE Digital E‑News

OE Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week