Net segment revenues1 for the quarter amounted to
Personnel costs and Other operating costs (‘cash operating costs’) for the quarter totaled
EBITDA came in at
Free cash flow3 was
CEO
A pre-recorded presentation of the results by CEO
Telephone conference dial-in details:
For more information contact:
Tel.: +47 995 89 882
E-mail: investor@tgs.com
Notes
1 - Figures based on Segment reporting, where sales committed prior to completion of the project are recognized on a Percentage of Completion basis. Please refer to the full Q3 2020 report for statements prepared according to IFRS
2 – Pro-forma figures including Spectrum
3 – Defined as Cash flow from operations after investments in the multi-client library
About TGS
TGS provides multi-client geoscience data to oil and gas Exploration and Production companies worldwide. In addition to extensive global geophysical and geological data libraries that include multi-client seismic data, magnetic and gravity data, digital well logs, production data and directional surveys, TGS also offers advanced processing and imaging services, interpretation products, and data integration solutions.
For more information visit TGS online at www.tgs.com.
Forward Looking Statement
All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to several risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS' reliance on a cyclical industry and principal customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data product at costs commensurate with profitability, as well as volatile market conditions, which have been exacerbated by the COVID-19 pandemic and the severe drop in oil prices. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.
Attachments
- TGS_Q3_2020_Presentation
- TGS_Q3_2020_Earnings_Release
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