Electromagnetic Geoservices ASA (EMGS) has signed a data licensing agreement worth USD 6.4 million for the provision of 3D controlled-source electromagnetic (CSEM) and magnetotelluric (MT) data from EMGS’s multi-client data library in the Norwegian Sea. These revenues will be recognised in the second quarter of 2013. Following this transaction, EMGS has in total secured close [...]
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Electromagnetic Geoservices ASA (EMGS) has resolved to release information on vessel activity and utilisation 4-5 working days after the close of each quarter. EMGS provides the following summary of vessel activity and utilisation for the first quarter of 2013: Vessel utilisation and fleet allocation Vessel utilisation1 for the first quarter came in at 63% compared [...]
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Spectrum and EMGS have entered into a cooperation agreement in the Foz de Amazonas basin in Brazil. Spectrum already has over 21,000 kilometers of MC 2D seismic data coverage of this highly prospective area of the equatorial margin. EMGS has been given access to this data for planning and improved imaging purposes and will soon [...]
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The BOA Galatea will today complete the multi-client program in the Ceara area in northern Brazil. The vessel will immediately after a scheduled port call mobilise for a multi-client program covering approximately 8000 km2 in the highly prospective equatorial margin of Brazil. The program, which has generated broad industry interest, covers blocks that have been [...]
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Electromagnetic Geoservices ASA (EMGS) provides the following update on the vessel schedule presented during its fourth quarter 2012 presentation on 7 February 2013: BOA Thalassa Following transit from the Gulf of Mexico to Singapore and subsequent equipment upgrades and sea trials, the BOA Thalassa is currently in the final stages of mobilizing for a confirmed [...]
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Electromagnetic Geoservices ASA (EMGS) announces that it has secured multi-client late sales worth approximately USD 10 million. These sales stem from a combination of the company’s 3D EM data library in Brazil, the Norwegian Sea and the Barents Sea. The revenues will be recognized in the first quarter of 2013. Press Release, February 28, 2013
February 28, 2013 | Posted in
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EMGS, the marine EM market leader, which uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbons, has announced yesterday the full year and fourth quarter results 2012. The highlights in the fourth quarter 2012 were revenues of USD 200.8 million, EBITDA of USD 55.9 million and [...]
EMGS has received a Letter of Intent for a contract totalling approximately 6 months of 3D EM data acquisition in Asia. Final confirmation and award of the program is dependent on the customer’s internal Tender Board approval. It is expected that the 3D EM survey program will be performed using the vessel BOA Thalassa with [...]
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Based on preliminary and unaudited results, Electromagnetic Geoservices ASA (EMGS) expects to report 2012 annual revenues of approximately USD 200 million and EBITDA of approximately USD 50 million. Total fourth quarter 2012 revenues are expected to come in at approximately USD million 44 million, of which the multi-client segment accounts for approximately USD 10 million. [...]
January 7, 2013 | Posted in
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Electromagnetic Geoservices ASA (EMGS) today signed a three-year global frame agreement with Shell International Exploration & Production B.V. (Shell) for the provision of 3D electromagnetic (EM) services. Roar Bekker, EMGS chief executive officer, commented: “We are pleased to enter into this agreement with such an experienced user of EM technology. Shell was one of the [...]
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