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CGG (Viridien) delivers cutting-edge geoscience solutions through seismic imaging and digital technologies that address global energy transition needs. This dedicated news hub provides investors and industry professionals with essential updates about the company's technological advancements and strategic initiatives.
Access real-time announcements covering operational milestones, including subsurface data innovations, sensor technology deployments, and sustainable resource management developments. Our curated collection features earnings reports, partnership disclosures, and progress updates on digital transformation projects critical to energy and infrastructure sectors.
Stay informed about CGG's leadership in geophysical surveying and Earth data analytics through verified press materials. The repository serves as a reliable source for tracking the company's contributions to responsible resource exploration and advanced seismic processing methodologies.
Bookmark this page for streamlined access to CGG's latest corporate communications, ensuring you never miss developments in MEMS sensor applications or integrated subsurface imaging solutions. Regular updates provide ongoing insights into how the company shapes data-driven decision-making in complex geological environments.
CGG will announce its Q4 2021 financial results on March 3, 2022, after market close. The press release and slide presentation will be available on the CGG website at 5:45 PM CET. An analysts conference call is scheduled for the same day at 6:30 PM CET, accessible via audio webcast. The company employs around 3,300 people worldwide and specializes in geoscience technology, supporting clients in addressing natural resource challenges.
CGG, a French société anonyme, reports its capital structure as of January 31, 2022. The company has a total of 711,670,269 issued shares, resulting in 712,313,409 actual voting rights. The theoretical voting rights stand at 712,338,405. Notably, all shares have equal voting rights, excluding treasury shares and registered shares held for over two years, which possess double voting rights. This report complies with the French Commercial Code and regulations established by the Autorité des Marchés Financiers (AMF).
CGG has secured a three-year contract extension to operate a dedicated permanent reservoir monitoring (PRM) imaging center for Equinor in Stavanger, effective January 1, 2022, through December 31, 2024. This extension highlights CGG's expertise in providing high-quality 4D seismic imaging, which aids Equinor's asset teams in optimizing production from key North Sea fields like Johan Sverdrup, Snorre, and Grane. CGG's imaging solutions are praised for their quick turnaround and innovative technologies, reinforcing the company's status as a leading partner in the offshore PRM sector.
CGG has signed a binding offer with Pramena Investment & Anacap Financial Partners for the sale and leaseback of its headquarters, Galileo, located in Massy, France. The transaction is expected to close in Q2 2022. This strategic move is part of CGG's ongoing efforts to reduce costs and enhance its balance sheet, as stated by CFO Yuri Baidoukov.
CGG reported its Q4 2021 segment revenue at approximately $301 million, marking a 15% sequential increase and a 12% year-on-year rise, excluding GeoSoftware. The Geoscience segment revenue is expected to be around $93 million, up 37% sequentially and 50% year-on-year. The Multi-Client sales are projected at $114 million, while Equipment sales are down 7% sequentially. For 2021, CGG anticipates a positive net cash flow of $15 million before refinancing costs of $(40) million. Year-end net debt is estimated at $865 million.
CGG, a French société anonyme with a share capital of €7,116,639, disclosed information in accordance with French regulations. As of December 31, 2021, the total number of issued shares was 711,663,925. The company's actual voting rights stood at 712,303,465, while the theoretical voting rights were 712,328,461. This information highlights the voting structure, including details on treasury shares and double voting rights for registered shares held over two years. The report aims to provide transparency to shareholders and stakeholders regarding voting rights.
CGG S.A. has successfully completed the sale of its physical storage assets and related services from the Smart Data Solutions business to OASIS Group and Access Information Management Corporation. The deal encompasses seven specialized storage facilities, with Access acquiring three in North America and OASIS taking four in Europe. This strategic move aims to enhance service delivery for global clients, capitalizing on the strengths of both OASIS and Access in records and information management. CGG's CEO, Sophie Zurquiyah, emphasized this alignment for future growth.
CGG has disclosed its voting rights and share details as of November 30, 2021.
A total of 711,663,027 shares were issued, with 712,358,100 actual voting rights and 712,383,096 theoretical voting rights calculated. All shares possess equal voting rights, barring treasury shares, which lack voting rights, and registered shares held for over two years that enjoy double voting rights.
CGG has launched a new GeoVerse™ Carbon Storage screening study aimed at aiding CCUS operators in identifying viable CO2 storage sites. This comprehensive study covers potential carbon storage plays within the Northern North Sea, utilizing CGG’s North Viking Graben 3D seismic dataset across both UK and Norwegian waters. CEO Sophie Zurquiyah emphasized that this product leverages CGG’s extensive geoscience and data science expertise, contributing to energy transition efforts and expanding the company's offerings in geothermal resource assessment and carbon sequestration.
