TGS Operational Update: Q1 2025 Highlights
TGS ASA, known for its robust energy data solutions, regularly shows its operational progress each quarter. In the latest update, the company expresses optimism for the first quarter of 2025, highlighting noteworthy advancements in its service capabilities and investment activities.
Growing Ocean Bottom Node (OBN) Crew Counts
The report features significant growth in TGS’ normalized Ocean Bottom Node crew count. For Q1 2025, TGS reported a normalized crew count of 2.8 for Contract operations, up from 1.9 in Q1 2024. This increase underscores the company’s commitment to enhancing its operational efficiency and service delivery in the energy sector.
Active Seismic Streamer Vessel Capacity Allocation
In addition to crew statistics, TGS detailed its allocation of active seismic streamer 3D vessel capacity. In Q1 2025, the allocation remained robust with 37% designated for Contract operations and 36% for Multi-client activities. The successful deployment of resources reflects TGS's ability to adapt to market demands while ensuring high productivity levels.
Insights on Vessels and Operations
The data indicates that the number of vessels has slightly decreased from 7 in Q1 2024 to 6 in Q1 2025, as the company strategically optimizes its fleet usage. Moreover, the report also highlighted a notable 11% of the vessel capacity now engaged in Steaming, which signifies greater operational focus in dynamic market areas.
Impressive Multi-client Investments
TGS also anticipates multi-client investment to reach approximately USD 130 million for the quarter. This demonstrates the company's strong positioning in the market despite global economic fluctuations. Kristian Johansen, the CEO of TGS, expressed satisfaction regarding these advancements, noting the company's ability to meet increased demand for data services, particularly in frontier regions.
Future Outlook and Events
Looking ahead, TGS is set to release its Q1 2025 results, demonstrating transparency in its financial performance and strategic initiatives. The results will be shared in a public presentation at 09:00 a.m. CEST on the specified date, where stakeholders can engage with the leadership and understand the company's ongoing and future projects.
Company Profile
TGS ASA focuses on providing advanced data services that empower businesses in the energy sector. Leveraging state-of-the-art technologies, TGS supports various energy initiatives around the globe. Their vast resource library combined with top-notch data solutions makes them a key player in energy exploration and production.
Contact Information
For any inquiries regarding TGS and its offerings, you can reach out to Bård Stenberg, VP of Investor Relations & Communication. He can be contacted at +47 992 45 235 or via email at investor@tgs.com.
Frequently Asked Questions
1. What were TGS' crew counts for Q1 2025?
TGS reported a normalized crew count of 2.8 for Contract operations and 0.2 for Multi-client services in Q1 2025.
2. How does TGS' vessel allocation look for Q1 2025?
The allocation for Contract operations stood at 37%, while Multi-client usage was at 36% for Q1 2025.
3. What is TGS' expected investment for multi-client projects?
TGS expects to invest around USD 130 million in multi-client initiatives for the first quarter of 2025.
4. When will TGS release its Q1 2025 results?
The Q1 2025 results will be announced on a specified date at 07:00 a.m. CEST.
5. Who can I contact for more information about TGS?
For inquiries, reach out to Bård Stenberg at +47 992 45 235 or email him at investor@tgs.com.
