PGS announces second quarter and preliminary first half 2021 results energy-pedia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from energy-pedia.com Daily Mail and Mail on Sunday newspapers.
PGS has been awarded a significant acquisition contract in the Black Sea. The project is scheduled to start mid-August 2021 and be completed in November. The Ramform Vanguard will acquire the survey.
PGS announces first quarter 2021 results
22 Apr 2021
Segment EBITDA of $84.1 million, compared to $80.5 million in Q1 2020
Segment EBIT (excluding impairments and other charges) loss of $13.9 million, compared to a loss of $15.8 million in Q1 2020
Segment MultiClient pre-funding revenues of $46.3 million, with a corresponding pre-funding level of 107%, compared to $40.7 million and 60%, respectively, in Q1 2020
Cash flow from operations of $88.6 million, compared to $176.0 million in Q1 2020
As Reported Revenues and Other Income according to IFRS of $165.7 million and an EBIT loss of $2.3 million, compared to $128.8 million and EBIT loss of $80.2 million, respectively, in Q1 2020
Awarded multiyear 4D framework agreement by Equinor
Awarded first simultaneous node and streamer acquisition contract by Lundin Energy Norway
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ALL crew members onboard a seismic survey vessel currently docked at Lerwick harbour which is linked to the recent cases of Covid-19 in Shetland are quarantining, according to the vesselâs owner.
A spokesperson for PGS, which owns the
Ramform Vanguard, said crew members are not allowed to disembark the ship.
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It comes after three positive coronavirus tests came through the local laboratory since the weekend, and were added to the local tally.
NHS Shetland declined to comment further on the small cluster of cases but confirmed that they were all inter-linked and originated from outside the isles.
Credit: PGS
Norway-based marine seismic surveyor PGS said Thursday it was experiencing an increase in seismic acquisition project activity, and that it would reactivate some previously stacked vessels. Based on project awards so far, PGS has started preparations to activate Ramform Vanguard for the summer season, with the acquisition expected to commence in April, PGS said.
In addition, the company said it would activate the Sanco Swift vessel to be used as a source vessel for at least three months on awarded projects.
To remind, back in April 2020, due to the coronavirus outbreak and a crash in oil prices hitting the offshore services industry hard, PGS said it would cold stack two 3D vessels - PGS Apollo and Sanco Swift.