EMGS - Vessel update and activity for the third quarter

New Post Public Reply Private Reply Replies (0) Message Board
News Desk 2018
18
EMGS - Vessel update and activity for the third quarter 2017

Electromagnetic Geoservices ASA (EMGS) releases information on vessel activity and utilisation 4-5 working days after the close of each quarter. The Company defines vessel utilisation as the percentage of the vessel charter period spent on contracted or multi-client data acquisition. Downtime (technical or maritime) and some standby activities are not included in the utilisation. Vessel utilisation for the third quarter 2017 was 77% compared with 52% for the third quarter in 2016. For the first nine months this year, the vessel utilisation was 85%, whereas the utilisation for the same period last year was 61%. In the third quarter of 2017, the Company had one vessel in operation. This vessel was allocated 72% to multi-client projects and 5% to a funded research and development project. In the comparable quarter of 2016, the vessels were allocated 31% to multi-client projects and 21% to a funded research and development project. EMGS recorded 3.0 vessel months in the quarter. In the third quarter 2016, the Company had two vessels in operation and recorded 6.0 vessel months. Vessel activity The Atlantic Guardian started the quarter with rigging of the Deep Blue source and completed the Fjord test on 17 July, prior to the first commercial project with the new source. Following that, the vessel acquired data on prefunded multi-client surveys in the Norwegian Sea and in the Barents Sea. The vessel's utilisation for the third quarter was 77%. The BOA Thalassa has been off-hire since 1 April 2017. The new charter agreement has a firm start on 1 October 2017. Multi-client revenues in the third quarter The Company expects to record approximately USD 9 million in multi-client revenues for the third quarter 2017. EMGS will publish its third quarter 2017 financial results on Thursday 2 November 2017 at 07:30 CET. A presentation will be held at Felix Konferansesenter, Bryggetorget 3, Oslo, and will be broadcast live over the Internet, starting at 10:00 CET. Contact Hege Veiseth, EMGS Chief Financial Officer, +47 992 16 743 About EMGS EMGS, the marine EM market leader, uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbons. EMGS supports each stage in the workflow, from survey design and data acquisition to processing and interpretation. The Company's services enable the integration of EM data with seismic and other geophysical and geological information to give exploration experts a clearer and more complete understanding of the subsurface. This improves exploration efficiency and reduces risks and the finding costs per barrel. EMGS operates on a worldwide basis with offices in Trondheim, Oslo, Houston, Villahermosa, Rio de Janeiro and Kuala Lumpur For more information, visit www.emgs.com This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Scroll down for more posts ▼

Top 10 Most Recent News Articles

AdminaHealth's AI Assistant Elevates Billing Solutions

Updated Category News Views 4

AdminaHealth Unveils AI Data Assistant for Enterprises Amid the hustle and bustle of business operations, AdminaHealth has tossed a digital lifeline into the sea of billing chaos. Enter their AI-powered data assistant, now available to the big players on the Enterprise Tier within the AdminaHealth Billing Suite. This tool isn't just some gizmo for show; it's a genuine...

Continue Reading
Catalina Behavioral Health: 4 Years, 1,000 Lives Touched

Updated Category News Views 3

Pioneering Care in Behavioral Health Catalina Behavioral Health is proving that four years can make a difference. From their base in Tucson, they've grown to serve 1,000 souls navigating the stormy waters of addiction and mental health. It's not just about numbers, you see—this milestone marks real lives changed, one battle at a time. Building Trust, One Patient at a...

Continue Reading
1.8M Moves in England: The Admin Maze Explained

Updated Category News Views 5

Navigating the Address Change Labyrinth Every time that welcome mat rolls out in a new spot, you're signing up for a mountain of paperwork. Sloth Move just painted a picture of the administrative mess awaiting those 1.8 million English households that decided 'new view, new digs' last year. Their analysis highlights why moving home means more than packing boxes—it's...

Continue Reading
Foodsmart's Program Links Food Benefits to Health Gains

Updated Category News Views 3

Navigating the healthcare maze isn't for the faint of heart, especially when it comes to making sure that dollars spent on food benefits actually translate to improved health. Enter Foodsmart, the foodcare powerhouse that just rolled out its Food-is-Medicine Benefits Management (FBM) program. Turning Meals into Measurable Metrics Health plans are under mounting pressure...

Continue Reading
Kansas City Current's Grand Playoff Push in 2026

Updated Category News Views 5

A Celebration of Fans and Momentum Some things are bigger than just a match. The Kansas City Current’s event, 'One Current 2026: Bigger Home. Bigger Future.' ain't just another day on the pitch. This is about expanding a vision that has the whole town buzzing. On Sunday, October 25, the buzzhits fever pitch as CPKC Stadium rolls out the biggest event in its...

Continue Reading
Oracle Harnesses AI to Streamline Healthcare Payments

Updated Category News Views 8

Oracle Steps into Healthcare's Payment Arena You ever try solving a puzzle with half the pieces missing? Well, that's exactly what healthcare orgs have been doing with their revenue cycles. Oracle (NYSE:ORCL) thinks it’s got the missing pieces. They've announced some slick AI capabilities to grease the wheels of healthcare revenue management. But hey, I've seen grand...

Continue Reading
IWP and SHARE Forge New Path for Filmmaker Funding

Updated Category News Views 4

Revolutionizing Film Financing The film industry has always been a tough nut to crack. Imagine trying to keep your creative baby yours without surrendering the crown jewels of intellectual property. Well, now, the cavalry with a fresh game plan has arrived, and both investors and filmmakers might be ready for another round. This isn't the typical PR fairytale; it's...

Continue Reading
Mattamy Homes Earns Spot as Top Workplace in Jacksonville

Updated Category News Views 7

Jacksonville's Housing Scene Gets a Boost In a world where everyone seems bent on working down to the bone to climb some imaginary corporate ladder, here comes Jacksonville's own Mattamy Homes with a news flash—it's possible to work, live, and still smile at the end of the day. Recently, they earned themselves a coveted spot among the best workplaces in Jacksonville for...

Continue Reading
Youth Mental Health: New Survey Spurs Action

Updated Category News Views 3

What's the 2025 Survey Telling Us? Numbers hit like a gut punch, don't they? The 2025 National Youth Risk Behavior Survey unveils some hard truths — truths that can't be softer just because we've made headway. We're talking about one in three high schoolers in this country feeling persistently down. That's about 33.3% of them, wrestling with sadness and hopelessness...

Continue Reading
EZ Elephant's Ladder-Free Gutter Fix Debuts at Expo

Updated Category News Views 4

A New Leaf in Gutter Maintenance From the ground up, EZ Elephant is redefining how we tackle gutter maintenance. Picture it: never having to teeter on that wobbly ladder again just to unclog your gutters. This American-made solution, showcased at the Western Roofing Expo from September 27–29, 2026, is a game changer. Check out Booth #834 to see this marvel of innovation...

Continue Reading

Top 5 Most Recently Viewed Articles

How Artificial Intelligence Is Impacting Personal Finance

Updated Category Personal Finance Views 80

Managing personal finances is an inherently complex effort that involves the assessment and balance of income, expenses, savings, investments, creditor relations, and future planning, all while operating in a frequently changing economy. AI technologies, which have become increasingly prevalent and powerful, have the capability to enhance personal financial...

Continue Reading
Summary of Firm Capital Apartment REIT's Annual Meeting Outcomes

Updated Category News Views 134

Key Takeaways from Firm Capital Apartment REIT’s Annual Meeting During a notable gathering held in Toronto, Firm Capital Apartment REIT (TSXV: FCA.U) convened for its annual and special meeting (the “Meeting”) of unitholders. This significant event took place earlier, and the Trust is excited to share the outcomes with its stakeholders. Trustee Elections and...

Continue Reading
Mon Courtier Energie Groupe Expands Operations to Belgium

Updated Category News Views 157

Mon Courtier Energie Groupe Launches Operations in Belgium Mon Courtier Energie Groupe (ISIN code: FR001400H3A0 - Ticker: ALMCE), a leading energy brokerage firm for businesses, is thrilled to announce its new operations in Belgium. This significant step underscores the company’s dedication to helping local businesses manage their energy costs more effectively. A New...

Continue Reading
FanDuel Sports Network Launches Innovative Streaming Initiative

Updated Category News Views 354

FanDuel Sports Network's Groundbreaking Digital Game Strategy FanDuel Sports Network is embarking on an unprecedented journey into the digital landscape, providing sports fans with enhanced access to live local NBA and NHL games. This initiative promises to reshape how fans engage with their favorite teams through innovative streaming solutions. This new digital...

Continue Reading
Straiker Secures $21 Million to Pioneer AI Security Solutions

Updated Category News Views 379

Straiker Secures $21 Million to Pioneer AI Security Solutions Straiker, an innovative AI-native security company, has emerged from stealth mode with an impressive initial funding of $21 million. This support comes from notable investors, including Lightspeed Ventures and Bain Capital Ventures. With this funding, Straiker aims to revolutionize the security landscape for AI...

Continue Reading