Welcome to our dedicated page for CGG news (Ticker: CGG), a resource for investors and traders seeking the latest updates and insights on CGG stock.
The CGG news page on Stock Titan aggregates recent public communications that are issued under the Viridien name. These items present Viridien as an advanced technology, digital and Earth data company and provide insight into its financial performance, governance decisions, capital structure and major Earth data projects. Readers can use this page to review how the group describes its activities across natural resources, digital, energy transition and infrastructure-related challenges.
News items include detailed financial updates, such as quarterly and full-year segment revenue, segment EBITDAs, net cash flow and net debt figures, as well as commentary on the company’s asset-light strategy and deleveraging efforts. Viridien also publishes announcements about bond redemptions, new loans and liquidity, giving context on how it manages its balance sheet and financing costs.
Operational news highlights multi-client seismic and Earth data projects. Examples include the Megabar Extension Phase I multi-client 3D seismic survey in the Barreirinhas Basin offshore Brazil and a seismic reimaging program over offshore block 22 in Angola. These releases describe the scope of the surveys, the use of proprietary subsurface imaging technologies and the intended benefits for exploration and licensing activities.
Governance and regulatory news covers decisions by the Board of Directors, such as the separation of the roles of Chair and Chief Executive Officer, and monthly disclosures on the total number of issued shares and voting rights in accordance with French market regulations. By following this news feed, users can track how Viridien presents its strategic direction, financial trajectory and key Earth data initiatives over time.
CGG is set to announce its third quarter 2022 financial results on November 2, 2022, after market close. The press release and presentation will be available on its website at www.cgg.com at 5:45 PM CET. An analysts conference call will follow at 6:30 PM CET. Note that CGG has switched to a new conference call provider, and participants need to register to receive the dial-in information or join via a webcast. A conference call replay will be accessible for 12 months on the company's website.
CGG announced its total number of shares and voting rights as of September 30, 2022. The company has issued 712,357,321 shares, resulting in 714,189,092 actual voting rights and 714,214,088 theoretical voting rights.
All shares have uniform voting rights, except treasury shares and registered shares held for over two years, which receive double voting rights. This update complies with the French Financial Markets Authority regulations.
CGG has licensed its new GeoVerse™ Carbon Storage multi-client study to TotalEnergies, marking a significant endorsement for CGG's innovative data-driven screening studies aimed at enhancing decision-making in carbon storage. This licensing deal highlights CGG's expertise in geoscience and data integration, including advancements in machine learning and high-performance computing. The GeoVerse studies support energy transition efforts by assessing carbon and geothermal resources.
CGG, a French société anonyme, reported its shareholding details as of August 31, 2022. The total number of issued shares reached 712,357,321, with actual voting rights at 714,191,571 and theoretical voting rights at 714,216,567. The report highlights that all shares possess equal voting rights, excluding treasury shares. Additionally, shares held for over two years have double voting rights. The information complies with Article L. 233-8 II of the French Commercial Code and AMF regulations.
On September 12, 2022, CGG announced that Sercel has acquired the software business of ION Geophysical Corporation. This acquisition includes key software products such as Orca, Gator, Mesa, and Marlin, enhancing Sercel's software offerings and diversifying its operations in marine and land seismic applications. Sercel plans to maintain the acquired technology as a standalone business unit, leveraging ION's expertise in software solutions to expand its market presence. The acquisition is seen as a strategic move to broaden Sercel's portfolio and improve service capabilities.
CGG announced the sale of 12,000 GPR300 nodes to BGP Inc., following a previous order of 18,000 nodes in 2021. This brings the total to 30,000 nodes deployed for a major seismic survey project in the Middle East, marking it as the largest seabed seismic exploration project to date. The GPR300 nodes, noted for their high performance, are expected to enhance productivity in shallow water environments. Sercel's CEO emphasized the company's commitment to innovation and meeting market needs through advanced technology.
The press release from CGG provides essential updates regarding its issued shares and voting rights as of July 31, 2022. The company has a total of 712,357,321 issued shares. The actual voting rights count stands at 714,192,938, while the theoretical voting rights amount to 714,217,934. The report clarifies that all shares carry equal voting rights, excluding treasury shares and those held for over two years, which have enhanced voting rights.
CGG has released its interim financial report for the period ending June 30, 2022, which is now available on the company's website. The report was filed with the Autorité des Marchés Financiers (AMF). CGG, a global leader in technology and high-performance computing, specializes in Earth and data sciences, providing innovative solutions for sustainable development. The company employs approximately 3,300 people worldwide and is listed on the Euronext Paris.
CGG, a leader in high-performance computing, reported strong Q2 2022 results with segment revenue of $240 million, up 66% year-on-year. Notable EBITDAs of $126 million reflect a 52% margin, and the company achieved a net income of $16 million. The growth was driven by increased Earth Data after-sales and sustained Geoscience activity amid a favorable market upcycle. Additionally, the company announced successful acquisitions in its Sensing and Monitoring division, highlighting its commitment to expanding its portfolio.
CGG has entered a significant multi-year global agreement with bp for data transformation and curation, reinforcing bp's digital strategy in the Subsurface sector. The collaboration aims to enhance the use of unstructured data, facilitating better decision-making and risk assessment for asset teams. Sophie Zurquiyah, CEO of CGG, emphasized the partnership's potential to unlock substantial business value and insights drawn from disparate data sources. This contract illustrates the longstanding relationship between the two companies, leveraging CGG's expertise in data science and technology.
