Last 38.24 NOK
Change Today -0.87 / -2.22%
Volume 2.4M
PGS On Other Exchanges
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As of 10:25 AM 09/23/14 All times are local (Market data is delayed by at least 15 minutes).

petroleum geo-services (PGS) Snapshot

Open
39.07 NOK
Previous Close
39.11 NOK
Day High
39.13 NOK
Day Low
38.11 NOK
52 Week High
09/23/13 - 81.55 NOK
52 Week Low
09/23/14 - 38.11 NOK
Market Cap
8.3B
Average Volume 10 Days
3.3M
EPS TTM
0.65 NOK
Shares Outstanding
217.8M
EX-Date
05/9/14
P/E TM
9.3x
Dividend
2.30 NOK
Dividend Yield
6.01%
Current Stock Chart for PETROLEUM GEO-SERVICES (PGS)

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petroleum geo-services (PGS) Details

Petroleum Geo-Services ASA, a marine geophysical company, provides seismic and reservoir services worldwide. The company is engaged in the acquisition, processing, interpretation, and field evaluation of seismic data, which oil and gas companies use to explore for hydrocarbon accumulations, develop new oil and gas fields, and manage their producing fields. It also offers multi-client library data; and provides imaging and reservoir-related processing services to exploration and production companies. The company serves multi-national, independent, and national or state-owned oil companies. Petroleum Geo-Services ASA was founded in 1991 and is headquartered in Oslo, Norway.

2,245 Employees
Last Reported Date: 04/10/14
Founded in 1991

petroleum geo-services (PGS) Top Compensated Officers

Chief Executive Officer and President
Total Annual Compensation: $2.1M
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $1.1M
Executive Vice President of Operations
Total Annual Compensation: $916.1K
Executive Vice President of Multiclient
Total Annual Compensation: $1.0M
Executive Vice President of Marine Contract
Total Annual Compensation: $1.0M
Compensation as of Fiscal Year 2013.

petroleum geo-services (PGS) Key Developments

Petroleum Geo Services ASA Revises Capital Guidance for the Year 2014 and 2015

Petroleum Geo Services ASA revised capital guidance for the year 2014. For the year, the company expects to reduce its CAPEX plan by approximately USD 50 million. The revised CAPEX estimate for 2014 is USD 375 million. For the year 2015, the company expects to reduce its CAPEX plan by approximately USD 100 million.

Petroleum Geo Mulls Sale Of PGS-Khazar

Petroleum Geo Services ASA (OB:PGS) has decided to sell PGS-Khazar LLC joint venture. Petroleum Geo Services ASA expects an impairment charge of about $20 million on the value of retired vessels and the expected sale of PGS-Khazar LLC.

Petroleum Geo Services ASA Announces Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Full Year 2014; Reports Impairment Charges for the Second Quarter 2014

Petroleum Geo-Services ASA announced consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company's revenues were $337.0 million against $381.7 million a year ago. Operating profit/EBIT was $46.2 million against $110.6 million a year ago. Income before income tax expense was $34.5 million against $97.3 million a year ago. Net income to equity holders of the company was $29.7 million or $0.14 per basic and diluted share against $71.5 million or $0.33 per basic and diluted share a year ago. Net cash provided by operating activities was $40.2 million against $271.3 million a year ago. Investment in property and equipment was $123.2 million against $197.7 million a year ago. Investment in other intangible assets was $5.1 million against $7.2 million a year ago. EBITDA was $170.6 million compared to $209.6 million a year ago. For the six months, the company's revenues were $629.5 million against $776.5 million a year ago. Operating profit/EBIT was $91.4 million against $207.4 million a year ago. Income before income tax expense was $47.2 million against $185.2 million a year ago. Net income to equity holders of the company was $34.3 million or $0.16 per basic and diluted share against $134.0 million or $0.62 per basic and diluted share a year ago. Net cash provided by operating activities was $222.1 million against $374.0 million a year ago. Investment in property and equipment was $267.3 million against $275.8 million a year ago. Investment in other intangible assets was $11.8 million against $13.9 million a year ago. The main capital expenditures in the first half of 2014 and in second quarter 2014 were related to the new build program and seismic equipment. Based on the current operational projections and with reference to the risk factors, the company expects full year 2014 EBITDA to be approximately $850 million. Due to reduced predictability with regards to customers' seismic purchases, particularly MultiClient, the uncertainty range around the EBITDA guidance is wider than normal. Capital expenditures are estimated to be approximately $425 million, of which $275 million are related to the new build program. For the quarter, impairment of long-term assets was $9.1 million.

 

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