https://newsweb.oslobors.no/message/468355

Innkommet 31.01.2019 07:14
Jan 31 (Reuters) - Seismic firm Petroleum Geo Services ASA
:
* 2019 MULTICLIENT CASH INVESTMENTS ARE EXPECTED TO BE
APPROXIMATELY $250 MILLION
* PGS EXPECTS FULL YEAR 2019 GROSS CASH COSTS OF
APPROXIMATELY
$550 MILLION
* PGS Q4 SEGMENT REVENUES $245.2 MILLION VERSUS PRELIMINARY
VIEW
OF $235 MILLION
* THIS NUMBER TAKES INTO ACCOUNT AN ESTIMATED APPROXIMATELY
$50
MILLION REDUCTION FROM IMPLEMENTATION OF IFRS 16 IN 2019
* PGS Q4 SEGMENT EBITDA $154.5 MILLION VERSUS PRELIMINARY
VIEW OF
$145 MILLION
* CAPITAL EXPENDITURE FOR 2019 IS EXPECTED TO BE
APPROXIMATELY $85
MILLION, WHICH INCLUDES REACTIVATION OF RAMFORM VANGUARD
* MORE THAN 50% OF 2019 ACTIVE 3D VESSEL TIME IS EXPECTED TO
BE
ALLOCATED TO MULTICLIENT ACQUISITION
* WE EXPECT SEISMIC MARKET IN 2019 TO CONTINUE IMPROVEMENT
TREND
EXPERIENCED DURING 2018
* ORDER BOOK TOTALED $163 MILLION AT DECEMBER 31, 2018
(INCLUDING
$59 MILLION RELATING TO MULTICLIENT)
* PGS Q4 SEGMENT EBIT $47.9 MILLION
* EXPECTS FULL YEAR 2019 GROSS CASH COSTS OF APPROXIMATELY
$550
MILLION
* IN CONTRACT MARKET WE EXPERIENCE HIGHER ACTIVITY, IMPROVED
VISIBILITY AND BETTER PRICES AS WE MOVE INTO 2019
* REVENUE GROWTH AND LOWER COSTS WILL POSITION US TO IMPROVE
CASH
FLOW FURTHER THIS YEAR
* EXPECTS CONTINUED CAPEX DISCIPLINE AMONG OIL FIRMS
* EXPECT CONTRACT PRICING TO BE MATERIALLY HIGHER IN 2019
VERSUS
2018
* PETROLEUM GEO SERVICES SAYS WELL POSITIONED TO REFINANCE
IN 2019
* PETROLEUM GEO SERVICES EXPECTS TO SIGNIFICANTLY EXPAND
CASH FLOW
IN 2019
* PETROLEUM GEO SERVICES SAYS 2019 GLOBAL DEMAND OUTLOOK IS
STRONG
AND DRIVING INCREASED ACTIVITY LEVELS OF 10-15%, WITH INDUSTRY
UNDER-SUPPLY ANTICIPATED MID-YEAR
* PETROLEUM GEO SERVICES SAYS GOOD VISIBILITY FOR 2019 IN
THE
CONTRACT SEGMENT WITH SIGNIFICANTLY HIGHER RATES ACHIEVED TO
DATE VERSUS 2018
* PETROLEUM GEO SERVICES SAYS TWO RAMFORM TITAN-CLASS
VESSELS WILL
HAVE SCRUBBERS INSTALLED IN 2019
* PETROLEUM GEO SERVICES SAYS WE PLAN TO INSTALL SCRUBBERS
ON THE
TWO REMAINING RAMFORM TITAN-CLASS VESSELS IN 2020
* PETROLEUM GEO SERVICES SAYS SCRUBBERS WILL ALLOW USE OF
HFO FUEL
ON ALL RAMFORM TITAN-CLASS VESSELS – A SIGNIFICANT COST
ADVANTAGE

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(Reporting By Ole Petter Skonnord)
((olepetter.skonnord@thomsonreuters.com;))