ASKER, NORWAY (9 January 2014) - TGS announces 2014 full year guidance today.
The guidance is as follows:
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Multi-client investments 390 - 460 MUSD
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Average pre-funding 45 - 55%
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Average multi-client amortization rate 40 - 46%
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Net revenues 870 - 950 MUSD
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Contract revenues approximately 5% of total revenues
To access a presentation on the guidance via webcast go to the company website at www.tgs.com
The slides from the presentation are also available in PDF format at both the TGS and Oslo Stock Exchange websites.
CEO Robert Hobbs and CFO Kristian Johansen will host a conference call on 9 January 2014 at 15:00 CET (9:00 AM New York time). Attendees may want to call 5-10 minutes before 15:00 CET (9:00 AM NY) to ensure registration and access.
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Norwegian attendees are invited to call 800 56053 or +47 2316 2729
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International attendees are invited to call 0800 279 4977 or +44(0)20 3427 1917
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US attendees are invited to call +1 877 280 2342
Participants will need to quote the following confirmation code when dialing into the conference: 8329782.
A Q&A session will follow a short introduction, based upon the presentation issued in the morning. To pose a question, please press *1.
A replay of the conference call will be available shortly after. To access replay of the TGS conference call,
A replay of the conference call will also be available at www.tgs.com.
Company summary
TGS-NOPEC Geophysical Company (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, permanent reservoir monitoring and data integration solutions.
For more information visit TGS online at www.tgs.com.
Forward-looking statements and contact information
All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of 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 products at costs commensurate with profitability. 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.
TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange (OSLO:TGS).
TGS sponsored American Depositary Shares trade on the U.S. over-the-counter market under the symbol "TGSGY".
For additional information about this press release please contact:
Kristian Johansen
Chief Financial Officer
Tel: +47 47 60 33 34
Email: kristian.johansen@tgs.com
Will Ashby
Director Investor Relations and M&A
Tel: +1 713 860 2184
Email: will.ashby@tgs.com
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: TGS via Globenewswire
HUG#1753591