TGS ASA (OSL:TGS)

kr 119.6 -3.1 (-2.53%) Market Cap: 15.65 Bil Enterprise Value: 16.10 Bil PE Ratio: 69.87 PB Ratio: 1.22 GF Score: 88/100

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Aug 07, 2020 / 01:00PM GMT

Release Date Price: kr139.7 (+1.97%)

Transcript

Operator

Welcome to TGS-NOPEC Q&A Conference Call. (Operator Instructions) As a reminder, this call is being recorded.

I will now hand the word over to Kristian Johansen, CEO of TGS-NOPEC. Please begin your meeting.

Kristian Kuvaas Johansen

TGS-NOPEC Geophysical Company ASA - CEO

Thank you, and good afternoon to our European audience, and a very good morning to all our U.S.-based participants. Thank you all for dialing in at this conference call at the end of the week. My name is Kristian Johansen. I'm the CEO of TGS. And with me today, I have our CFO, Fredrik Amundsen.

Last evening, we had the pleasure of announcing that we have submitted an offer for the purchase of a multiclient data library of PGS. After a short introduction, we will open up for questions.

As you all know, the seismic industry has seen a sharp drop in aggregate return on capital, caused by a combination of factors, such as lower oil price, more consolidated customer base and overcapacity on the supply side. As a result, industry players have changed their strategy

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