2013-01-08 07:53:34 -
ASKER, NORWAY (8 January 2013) - TGS announces 2013 full year guidance and Q4
Based on preliminary reporting from operating units, TGS management expects net
revenues for the fourth quarter of 2012 to be approximately 280 MUSD, bringing
estimated net revenues for the full year of 2012 to approximately 931 MUSD, 53%
higher than 2011. Multi-client investments for the fourth quarter are expected
to be approximately 93 MUSD. Management will give a full report of Q4 2012
results on 7 February 2013.
For 2013 the guidance is as follows:
* Multi-client investments 530 - 600 MUSD
* Average pre-funding 50 - 60%
* Average multi-client amortization rate 40 - 46%
* Net revenues 970 - 1050 MUSD
* Contract revenues approximately
5% of total revenues
To access a presentation on the guidance via webcast go to the Company website
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 also host a conference call on
8 January 2013 at 15:00 CET Norway time (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
· Norwegian attendees are invited to call +800 56054 or +47 2316 2771
· International attendees are invited to call 0800 279 4992 or +44 (0)20
· US attendees are invited to call +1 877 280 2296
Participants will need to quote the following confirmation code when dialing
into the conference: 4175002.
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,
· dial +47 2100 0498 (Norway) or +44 (0)20 3427 0598 (International) or
+1 347 366 9565 (US)
· replay access code 4175002 followed by # (pound-sign)
A replay of the conference call will also be available at www.tgs.com.
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
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
For additional information about this press release please contact:
Chief Financial Officer
Office: +47 66 76 99 00
Cell: +47 47 60 33 34
Director Investor Relations and M&A
Tel: +1 713 860 2184
TGS 2013 Guidance and Q4 2012 Update :
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Source: TGS via Thomson Reuters ONE