This is PGS

PGS provides reliable images and 3D data about the subsurface. Oil and gas companies use this data to find and produce hydrocarbon reserves.

Oil and gas companies use PGS data for both exploration and production. In the exploration phase, seismic data is used to investigate regional geology and to locate reservoirs and spot traps during the search for new reserves. Later, in the production phase, accurate data with reliable attributes is necessary to plan the interventions required to produce efficiently from existing reservoirs over the life of a field. 

PGS activities are organized into three business areas.

  • Sales & Marketing promotes and sells seismic services including tailored acquisition contracts, MultiClient library data, and imaging services 
  • New Ventures designs and markets new MultiClient projects and manages strategic projects
  • Operations & Technology plans, manages and executes all our acquisition projects, and develops new technology solutions

Our Business

PGS is a leading, international, marine geophysical company. Our business is technology driven and we provide a broad range of seismic and reservoir services, including acquisition, imaging, interpretation, and field evaluation.

The PGS data library is among the largest and most modern in the industry. Around 60% of the 2D data and 44% of all 3D data in our library has been acquired with multisensor GeoStreamer® technology. That proportion is growing. 

PGS is the industry's most experienced provider of multisensor broadband data. Worldwide our teams have acquired and processed around 650 000 sq. km of GeoStreamer broadband data.  

PGS operates three larger sales and imaging hubs in Europe and North America, and has local offices in 13 countries. The PGS headquarters is in Oslo, Norway and the PGS share is listed on the Oslo stock exchange (OSE: PGS).


Worldwide Locations

PGS is headquartered in Oslo, Norway and has offices in 13 countries around the world. We have regional centers in London and Houston.

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Centralized hubs and local offices. Find out how to get in touch with your regional office under Contact Us

 

Key Figures

  USD Millions
2014 1453.8
2015 961.9
2016 764.3
2017 838.8
Business Unit Percentage
MultiClient - 64% 64
Contract - 29% 29
Imaging - 6% 6
Other - 1% 1
  USD Millions
2014 1111.7
2015 793.1
2016 662.3
2017 690.0
  Patents
2016 552
2017 632
Key Financial Figures
In USD million except per share data 2017 2016 2015 2014
Revenues 838.8 764.3 961.9 1453.8
EBITDA (as defined) 374.1 313.3 484.4 702.6
EBIT ex. impairment charges (147.1) (137.5) 15.8 177.3
EBIT as reported (383.6) (180.3) (430.4) 104.2
Net income (523.4) (293.9) (527.9) (50.9)
EPS (1.55) (1.21) (2.43) (0.24)
Net cash provided by operating activities 281.8 320.9 487.9 584.3
Capital expenditures 154.5 208.6 165.7 371.3
Cash investment in MultiClient library 213.4 201.0 303.3 344.2
Total assets 2482.8 2817.0 2914.1 3563.0
MultiClient library 512.3 647.7 695.0 695.2
Cash and cash equivalents 47.3 61.7 81.6 54.7
Shareholders equity 879.5 1359.4 1 463.7 1901.6
Net interest bearing debt 1139.4 1029.7 994.2 1048.0


MultiClient Fundamentals

  Percentage
GeoStreamer 3D Data - 40% 40
Other - 60% 60
  Percentage
GeoStreamer 2D Data - 60% 60
Other - 40% 40
  Percentage
PGS - 18% 18
Rest of Peer Group - 82% 82
  Percentage
PGS - 25% 25
Rest of Peer Group - 75% 75
  Percentage
PGS - 21% 21
Rest of Peer Group - 79% 79

 

Vessel Fleet

The modern, reliable PGS fleet has an average age of just five years. The fleet of eight 3D seismic vessels accommodates seasonal market swings by using two of the ships selectively according to demand swings. On average our seismic vessels towed 14.5 streamers per vessel in 2017.

  Percentage
Contract - 41% 41
MultiClient - 31% 31
Standby - 14% 14
Steaming - 11% 11
Yard - 3% 3
  Percentage
Marine Contract - 57% 57
MultiClient - 43% 43

 

People

In 2017 we radically revised our business structures and processes and had to let many valued employees go. Despite the inevitable upheaval such change produces, PGS continued to benefit from a strong team culture and the dedication of our people. The Company remains devoted to further developing its workforce and providing a safe and respectful working environment, to support the employees' health and well-being.

  Percentage
Male - 96% 96
Female - 4% 4
Nationality Percentage
British - 29% 29
Norwegian - 14% 14
Polish - 12% 12
American - 10% 10
Canadian - 5% 5
French - 3% 3
Brazilian - 3% 3
Other - 25% 25
  Percentage
Under 55 yrs - 85% 85
55 and over - 15% 15
  Percentage
Male - 68% 68
Female - 32% 32
Nationality Percentage
Norwegian - 25% 25
British - 20% 20
American - 13% 13
Egyptian - 5% 5
French - 4% 4
Brazilian - 4% 4
German - 3% 3
Other - 25% 25
  Percentage
Under 55 yrs - 82% 82
55 and over - 18% 18