TGS - A new era
RIP Hvalross. Aldri glemt.
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Hvem er klare for å skrive historie som verdens beste seismikkselskap?
"This is more than a merger of two companies," said Kristian Johansen, CEO at TGS. "It's a blending of strengths, uniting our robust financial performance, exceptional customer service, operational excellence, cutting-edge technology and innovation. Our new executive team is poised to drive forward these advancements with a fresh strategic vision, ensuring that our combined expertise translates into greater value for our customers and shareholders; while our new brand identity captures our commitment to being a strategic partner for energy companies worldwide, providing the insights and solutions needed for today and anticipating the challenges of tomorrow."
Capital Markets Day, 29 August 2024, Oslo:
The merger of TGS and PGS forms a powerhouse in the energy sector, enhancing its capabilities to support energy exploration and production on a global scale. As the industry evolves, TGS is ideally positioned to serve the entire energy market with more comprehensive, advanced solutions. This integration will enable the Company to leverage a wider pool of technological resources and expertise, significantly boosting its operational efficiency, innovation and customer engagement strategies. TGS leadership will present more information on the vision for the new Company at a Capital Markets Day, to be held in Oslo on 29 August 2024.
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Hvem er klare for å skrive historie som verdens beste seismikkselskap?
"This is more than a merger of two companies," said Kristian Johansen, CEO at TGS. "It's a blending of strengths, uniting our robust financial performance, exceptional customer service, operational excellence, cutting-edge technology and innovation. Our new executive team is poised to drive forward these advancements with a fresh strategic vision, ensuring that our combined expertise translates into greater value for our customers and shareholders; while our new brand identity captures our commitment to being a strategic partner for energy companies worldwide, providing the insights and solutions needed for today and anticipating the challenges of tomorrow."
Capital Markets Day, 29 August 2024, Oslo:
The merger of TGS and PGS forms a powerhouse in the energy sector, enhancing its capabilities to support energy exploration and production on a global scale. As the industry evolves, TGS is ideally positioned to serve the entire energy market with more comprehensive, advanced solutions. This integration will enable the Company to leverage a wider pool of technological resources and expertise, significantly boosting its operational efficiency, innovation and customer engagement strategies. TGS leadership will present more information on the vision for the new Company at a Capital Markets Day, to be held in Oslo on 29 August 2024.
Redigert 22.07.2024 kl 19:42
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unikum
07.07.2024 kl 23:26
5699
Bedre drift på båtene i dette kvartalet for pgs, bedre late sales har jeg også tro på. Tgs ingen formening men må håpe på bedre drift og mye bedre late seles enn første Q ,det var skuffende.
Omo
07.07.2024 kl 23:30
5703
Så kanskje kan vi få et godt løft oppover i mårra? Skal vi tippe vi kommer opp mot 140?
rischioso
08.07.2024 kl 00:12
5588
Det som blir spennende og se er om den tekniske støtten på 130nok holder - holder den så blir det nok en midlertidig rekyl tilbake og ikke minst en fin exit mulighet, MEN holder den ikke så er det støtten på 124 som står for tur og holder ikke den heller så finner vi ikke neste støtte av betydning før nede på 94nok og det er ikke mer enn knappe 6mdr siden kursen var der nede så det er et nivå vi raskt kan se igjen om vi legger til grunn hvilke langtekkelige og kostbare innflettings -og slanke utfordringer selskapet står overfor med mye prøving og feiling for å tilpasse seg det samme markedet som var for lite før sammenslåingen - dette er nok utfordringene de profilerte investorene som nå selger seg ned også ser....;)
unikum
08.07.2024 kl 00:40
5555
Der kom hakk i plata igjen og figuren som aldri finner veien inn i noen aksjer utenom ett par som dundrer nedover i verdi.
rischioso
08.07.2024 kl 01:21
5523
Nå er jo virkeligheten slik at alle aksjer på Børs til tider går både opp og ned hvor majoriteten går ned og kun et fåtall går opp igjen til utgangspunktet - så gjenstår det og se om elefanten TGS etter en mest sannsynlig nedgang fremover vil kunne reise seg igjen slank som en gazelle - men før vi kjenner svaret på det så skal det slankes, prøves og feiles noe som naturligvis vil legge press på kursen en god stund fremover (6-18mdr) hvor profilerte investorer av samme grunn har lettet seg for ikke å bli med ned i motsetning til andre som har lenket seg til masta og derfor først blir med ned med NULL-0 garanti for at det går opp igjen verken til dagens nivå eller nivået man håper på....
Redigert 08.07.2024 kl 01:24
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BWMx5
08.07.2024 kl 07:02
5357
Q2 2024 Revenue Update
OSLO, Norway (8 July 2024) - Based on preliminary reporting from operating
units, management of TGS ASA ("TGS") expects IFRS revenues for Q2 2024 to be
approximately USD 224 million, compared to USD 206 million in Q2 2023.
POC revenues* are expected to be approximately USD 215 million, compared to USD
241 million in Q2 2023.
POC multi-client revenues are estimated at approximately USD 115 million versus
USD 129 million in Q2 2023, with early sales of USD 49 million, compared to USD
66 million in Q2 2023, and late sales of approximately USD 66 million, up from
USD 63 million in Q2 2023. Multi-client investments were approximately USD 52
million, compared to USD 86 million in Q2 2023.
Proprietary revenues are expected to be USD 100 million versus USD 113 million
in Q2 2023.
"Without any special sales events, such as licensing rounds and transfer fees,
we are satisfied with the development in multi-client revenues in the quarter.
Late sales increased by 6% compared to the same quarter of last year and we
continued to show strong sales of ongoing surveys with an early sales rate of
94%. Proprietary revenues increased approximately 30% sequentially and our
operational performance was solid for ongoing projects. Furthermore, I'm pleased
to see strong order inflow in our Acquisition business in the quarter,
reflecting continued growth in demand for OBN data acquisition services. By
completing the merger with PGS on 1 July, TGS is perfectly positioned to support
our customers' exploration ambitions and capitalize on what we think will be a
multi-year upcycle," stated Kristian Johansen, CEO of TGS.
The PGS acquisition was completed on 1 July 2024, meaning that the financial
results will not be reported as part of TGS until Q3 2024. Based on a
preliminary assessment from PGS, POC revenues* in Q2 2024 are expected to be
approximately USD 180 million, of which USD 100 million relates to multi-client
and USD 79 million relates to proprietary revenues (incl. Imaging). In Q2 2024,
approximately 31% of the vessel capacity** was allocated to contract seismic,
27% to multi-client, while the remaining 42% was split between steaming, yard-
stays, and standby.
TGS will release its Q2 2024 results at approximately 7:00 am CET on 18 July
2024.
*For the purpose of POC revenues, multiclient revenues committed prior to
completion of projects are recognized on a percentage of completion ("POC")
basis. This differs from IFRS reporting, where revenues committed prior to
completion are recognized when the customers receive access to the finished
data.
** The statistics are based on eight available vessels in Q2 2024. All cold-
stacked vessels are excluded from the statistics.
Adjustments between preliminary IFRS and POC revenue numbers for Q2 2024:
Preliminary reported IFRS revenue: USD 224 million
- Revenue recognized from performance obligations met during Q2 for completed
projects: USD 58 million
+ Revenue recognized under POC during Q2: USD 49 million
= Preliminary reported POC revenue: USD 215 million
For more information, visit TGS.com (http://www.tgs.com) or contact:
CFO Sven Børre Larsen
Tel.: +47 90 94 36 73
E-mail: investor@tgs.com (mailto:investor@tgs.com)
https://newsweb.oslobors.no/message/623197
OSLO, Norway (8 July 2024) - Based on preliminary reporting from operating
units, management of TGS ASA ("TGS") expects IFRS revenues for Q2 2024 to be
approximately USD 224 million, compared to USD 206 million in Q2 2023.
POC revenues* are expected to be approximately USD 215 million, compared to USD
241 million in Q2 2023.
POC multi-client revenues are estimated at approximately USD 115 million versus
USD 129 million in Q2 2023, with early sales of USD 49 million, compared to USD
66 million in Q2 2023, and late sales of approximately USD 66 million, up from
USD 63 million in Q2 2023. Multi-client investments were approximately USD 52
million, compared to USD 86 million in Q2 2023.
Proprietary revenues are expected to be USD 100 million versus USD 113 million
in Q2 2023.
"Without any special sales events, such as licensing rounds and transfer fees,
we are satisfied with the development in multi-client revenues in the quarter.
Late sales increased by 6% compared to the same quarter of last year and we
continued to show strong sales of ongoing surveys with an early sales rate of
94%. Proprietary revenues increased approximately 30% sequentially and our
operational performance was solid for ongoing projects. Furthermore, I'm pleased
to see strong order inflow in our Acquisition business in the quarter,
reflecting continued growth in demand for OBN data acquisition services. By
completing the merger with PGS on 1 July, TGS is perfectly positioned to support
our customers' exploration ambitions and capitalize on what we think will be a
multi-year upcycle," stated Kristian Johansen, CEO of TGS.
The PGS acquisition was completed on 1 July 2024, meaning that the financial
results will not be reported as part of TGS until Q3 2024. Based on a
preliminary assessment from PGS, POC revenues* in Q2 2024 are expected to be
approximately USD 180 million, of which USD 100 million relates to multi-client
and USD 79 million relates to proprietary revenues (incl. Imaging). In Q2 2024,
approximately 31% of the vessel capacity** was allocated to contract seismic,
27% to multi-client, while the remaining 42% was split between steaming, yard-
stays, and standby.
TGS will release its Q2 2024 results at approximately 7:00 am CET on 18 July
2024.
*For the purpose of POC revenues, multiclient revenues committed prior to
completion of projects are recognized on a percentage of completion ("POC")
basis. This differs from IFRS reporting, where revenues committed prior to
completion are recognized when the customers receive access to the finished
data.
** The statistics are based on eight available vessels in Q2 2024. All cold-
stacked vessels are excluded from the statistics.
Adjustments between preliminary IFRS and POC revenue numbers for Q2 2024:
Preliminary reported IFRS revenue: USD 224 million
- Revenue recognized from performance obligations met during Q2 for completed
projects: USD 58 million
+ Revenue recognized under POC during Q2: USD 49 million
= Preliminary reported POC revenue: USD 215 million
For more information, visit TGS.com (http://www.tgs.com) or contact:
CFO Sven Børre Larsen
Tel.: +47 90 94 36 73
E-mail: investor@tgs.com (mailto:investor@tgs.com)
https://newsweb.oslobors.no/message/623197
Tyrkman
08.07.2024 kl 07:09
5308
Bliver naturligvis interessant at følge men den kvartalsmæssige udvikling er egentlig ikke så vigtig. Jeg har ikke høje forventninger til kvartalet men derimod store forventninger til de næste par år som jeg er overbevist om bliver fantastiske. Så uanset hvad er det blot at holde sine aktier eller købe flere hvis der kommer dip
10PS
08.07.2024 kl 07:40
5124
Fra DN :
TGS økte inntektene med ti prosent
Seismikkselskapet TGS kommer med en topplinjeoppdatering mandag morgen. Der opplyses det at inntektene endte på 224 millioner dollar i andre kvartal, som kan sammenlignes med 206 millioner i samme periode i fjor.
TGS økte inntektene med ti prosent
Seismikkselskapet TGS kommer med en topplinjeoppdatering mandag morgen. Der opplyses det at inntektene endte på 224 millioner dollar i andre kvartal, som kan sammenlignes med 206 millioner i samme periode i fjor.
rolser
08.07.2024 kl 07:57
5040
July 11, 2023, Oslo, Norway: Based on a preliminary review, PGS expects to report Revenues and Other Income according to IFRS for Q2 2023 of approximately $156 million, compared to $273.6 million in Q2 2022. The Company expects Produced Revenues* for Q2 2023 of approximately $186 million, compared to $209.7 million in Q2 2022.
Contract revenues ended at approximately $71 million in Q2 2023, compared to $62.8 million in Q2 2022. MultiClient late sales revenues were approximately $55 million in Q2 2023, compared to $108.2 million in Q2 2022, when the Company benefited from significant transfer fees.
Estimated Produced MultiClient Pre-funding Revenues* in Q2 2023 were approximately $54 million compared to $32.6 million in Q2 2022. MultiClient pre-funding revenues based on IFRS, where revenues are recognized at the time of delivery of finally processed data, were approximately $24 million in Q2 2023, compared to $96.5 million in Q2 2022. IFRS revenues for Q2 were lower than previously estimated due to changes to delivery time for completed data.
Contract revenues ended at approximately $71 million in Q2 2023, compared to $62.8 million in Q2 2022. MultiClient late sales revenues were approximately $55 million in Q2 2023, compared to $108.2 million in Q2 2022, when the Company benefited from significant transfer fees.
Estimated Produced MultiClient Pre-funding Revenues* in Q2 2023 were approximately $54 million compared to $32.6 million in Q2 2022. MultiClient pre-funding revenues based on IFRS, where revenues are recognized at the time of delivery of finally processed data, were approximately $24 million in Q2 2023, compared to $96.5 million in Q2 2022. IFRS revenues for Q2 were lower than previously estimated due to changes to delivery time for completed data.
oppturen
08.07.2024 kl 08:35
4605
Er vel ingen som har gitt estimat på IFRS, alle gir estimat på POC.
Grimsmo
08.07.2024 kl 08:39
4530
TGS ASA ("TGS") expects IFRS revenues for Q2 2024 to be
approximately USD 224 million, compared to USD 206 million in Q2 2023.
approximately USD 224 million, compared to USD 206 million in Q2 2023.
unikum
08.07.2024 kl 09:18
4014
Tja over konsensus og faller 4 %.. klarer ikke å se helt den. Kommer ut bedre enn 2023 og en del bedre enn Q1 så ja vi får se etterhvert..
Obxserver
08.07.2024 kl 09:18
4018
TGS/PGS leverte som forventet mot konsensus. Det er fra 2H 2024 at ting begynner å bli morro. Det er nå posisjoneringen starter:).
Geiren
08.07.2024 kl 09:21
3989
Må få opp betalt tid på de 8 båtene fra PGS. Blir ikke penger i kassa av 40% ubetalt tid, må iallefall ned til 25%
Skimmy
08.07.2024 kl 09:27
3877
Det ser vel bedre ut for H2 på flåteutnyttelsen hvertfall. Og kan fort komme noe transfer fees og i H2.
Grimsmo
08.07.2024 kl 09:29
3876
Tenker vi ender i + i dag. Bare litt typisk skremsel fra Short mafian fra start av. Godt nytt betyr som oftest nedgang fra start.
CatchTrader
08.07.2024 kl 09:30
3870
DNB fikk rett, det hender at de har noen lysglimt. Ikke at denne var videre vanskelig å "tippe"
Kontur
08.07.2024 kl 09:33
3835
Se fremover det er som ett nytt sammenslått selskap verdiene skal yngle.
Kjøp
Kjøp
Blue Cow Group
08.07.2024 kl 09:44
3881
Dnb lå vel 20% under konsensus, hvordan kommer du fram til at de fikk rett?
Sydforekvator
08.07.2024 kl 10:32
3533
* Shares in Norwegian oil services company TGS
TGS
slip 3.3% after the company posted preliminary Q2 revenue below expectations
** TGS merged with Norwegian peer PGS
PGS1
on July 1, 2024; shares on track for worst day in two months
** Co's figures for Q2 on standalone basis "ok", says Carnegie analyst Erik Aspen Fossa
** "However, disappointing PGS revenue means that TGS on a combined basis was 8% below our total revenue estimate and 10% below consensus"
** Adds, the miss on combined basis is driven by disappointing late sales and proprietary revenue in PGS
** Additionally, attributes a "big part" of the miss to "delayed start-up on two contracts in Brazil, meaning utilisation for the PGS fleet in Q2 came in at 58% vs. our estimate at 71%"
TGS
slip 3.3% after the company posted preliminary Q2 revenue below expectations
** TGS merged with Norwegian peer PGS
PGS1
on July 1, 2024; shares on track for worst day in two months
** Co's figures for Q2 on standalone basis "ok", says Carnegie analyst Erik Aspen Fossa
** "However, disappointing PGS revenue means that TGS on a combined basis was 8% below our total revenue estimate and 10% below consensus"
** Adds, the miss on combined basis is driven by disappointing late sales and proprietary revenue in PGS
** Additionally, attributes a "big part" of the miss to "delayed start-up on two contracts in Brazil, meaning utilisation for the PGS fleet in Q2 came in at 58% vs. our estimate at 71%"
Nidaros-andy
08.07.2024 kl 11:51
3053
Som gammel PGS aksjonær så får jeg bare mer aksjer for kompensasjonen som kommer i morra, så nedgangen må bare vare til da😁
Nestoren
08.07.2024 kl 12:27
2834
Nå er vi ferdig to "svake" kvartaler. Nå starter reisen til 200 kr +.
Tilbakekjøp i høsten og to gode kvartaler så smiler vi godt til jul.
Tilbakekjøp i høsten og to gode kvartaler så smiler vi godt til jul.
rischioso
08.07.2024 kl 13:03
2640
Ja, i kjent stil så sender menigheten som ledelsen nok en gang en hvit pil etter forventningene og sier at det vil bli så mye bedre om ett år eller 3 noe som er blitt gjort de siste 3 åra og flere år før det og slik kan man jo fortsette inn i evigheten, men det er altså ikke blitt noe bedre, markedet er det samme og supersyklusen glimrer fortsatt med sitt fravær og det rett in forkant av en utfordrende, langtekkelig og kostnads økende innflettings -og slankeprosess - mao, det er ikke mye på børs som er garantert, men at det vil gå mot nye kvartalsmessige skuffelser i dette caset er vel det eneste sikre...
Redigert 08.07.2024 kl 13:04
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Grøntgress
08.07.2024 kl 13:15
2629
Handler på dippene som kommer før presentasjon Q2. Som vanlig dukker det opp ett troll eller to når de får en liten sjangs til å kommentere negativt. Støtten øker og fremtiden ser svært bra ut.
10PS
08.07.2024 kl 13:25
2686
Du er heldig du ris som ikke har aksjer i TGS og da slipper du å bry deg, men da blir spørsmålet hvorfor bryr du deg likevel dag etter dag hele døgnet. Er du ansatt på si av DNB for å hjelpe Evjen ? æ bare spør.
rischioso
08.07.2024 kl 13:31
2690
Jeg følger caset fordi det kan komme gode trading muligheter slik det gjorde i PGS så det er ikke snakk om heldig eller ikke heldig.
Sagt på annen måte så har det ikke vært noe behov for å baisse dette caset - det klarer caset fint på egenhånd - jeg bare underbygger fakta og fakta bare underbygger det jeg har sagt - og det bør man jo ha lov til ikke ulikt mange andre, men da med motsatt fortegn...;)
Sagt på annen måte så har det ikke vært noe behov for å baisse dette caset - det klarer caset fint på egenhånd - jeg bare underbygger fakta og fakta bare underbygger det jeg har sagt - og det bør man jo ha lov til ikke ulikt mange andre, men da med motsatt fortegn...;)
Nidaros-andy
08.07.2024 kl 13:45
2675
Minner fortsatt om at siden Ris var tilbake på gamle pgs tråd 3.mai og har spredd rundt seg med alle negative tanker og betraktninger så har kursen gått opp. Og ut fra hans egne "håv" mål så er håven tom. Likevel klarer han å melde og mene at han har rett. Det er fascinerende 😁
unikum
08.07.2024 kl 14:03
2649
Kan du komme med litt fakta hvorfor prossen med fusjonen blir så vanskelig og kostbar som du vil ha det til? Og ikke kom med tomme ord igjen. Må ha noen tall med normal dokumentasjon .
rischioso
08.07.2024 kl 14:05
2717
Ingen tomme ord her i gården. Har redegjort for det i flere innlegg - scroll tilbake...;)
Redigert 08.07.2024 kl 14:06
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Tyrkman
08.07.2024 kl 14:31
2605
Processen er hverken kompliceret eller kostbar. Vi taler om sammenlægning af 2 selskaber med omkring 1000 medarbejdere. Eneste omkostning vil stort set være lønninger til de personer som afskediges men fortsat holdes i bøgerne i notice perioden. No big deal. Til gengæld vil besparelsen hurtigt blive betydelig når synergierne hentes og dobbeltled fjernes. Det anbefales at læse udtalelserne om synergieffekten ved sammenlægningen. Det er jo fuldkommen idiotisk at hævde at omkostningerne stiger ved sammenlægningen
Omo
08.07.2024 kl 14:47
2544
Ristrollet følger caset og etter hans syn alle trolla med tanke å få kjøpt på dipper. Noen som skjønner hva han mener, og hvor eg logikken? Hentet han inspirasjon og kunnskap fra alle etter hans syn troll her inne? Du snakker om vissvass preik .