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 will announce its Q3 2021 financial results on November 3, after market close. The company plans to publish its quarterly financial communication at 5:45 PM CET and hold a management conference call at 6:30 PM CET on the same day. Interested parties can access the conference call via audio webcast on the company's website. A replay will be available for 12 months. CGG is a leading global geoscience technology provider, employing approximately 3,700 people worldwide, delivering various data and solutions for resource and environmental challenges.
CGG, in collaboration with TGS and BGP, has signed a multi-client agreement with Staatsolie for seismic programs in offshore Suriname, announced on October 20, 2021. This initiative will involve acquiring new 3D seismic data and reprocessing existing data in the region's shallow water acreage, which includes newly awarded blocks and additional open acreage. The new data aims to enhance understanding of the area's potential, particularly following recent discoveries in block 58. Initial data acquisition is set to begin in Q4 2021, with results expected in H1 2022.
CGG anticipates Q3 2021 segment revenue to reach approximately $270 million, reflecting a 35% year-on-year increase and a 72% sequential rise. Key segments are:
- Geoscience: $77 million (stable year-on-year, +5% sequential)
- Multi-Client: $92 million (+26% year-on-year, +149% sequential)
- Equipment: $101 million (+102% year-on-year, +110% sequential)
CGG will release full Q3 results on November 3, 2021, and has updated its financial communication schedule to better accommodate investors.
CGG released information detailing its total voting rights and shares as of September 30, 2021. The company has a total of 711,662,205 issued shares, with 712,328,962 actual voting rights and 712,353,958 theoretical voting rights. All issued shares carry the same voting rights, except treasury shares, which do not have voting rights. The press release adheres to Article L. 233-8 II of the French Commercial Code and Article 223-16 of the General Regulation of the French market authority (AMF).
CGG S.A. has successfully finalized the sale of its GeoSoftware business to Topicus.com Inc. and Vela Software for a total cash amount of US$95 million. This transaction became effective on October 1, 2021, following prior announcements. The sale represents a strategic move for CGG, which is recognized as a leader in geoscience technology, employing approximately 3,700 people globally. The company is dedicated to providing a wide range of solutions addressing complex challenges in natural resources and environmental sectors.
CGG has awarded Sercel a significant contract to provide land seismic equipment for a 3D mega-crew survey in North Africa. This contract includes a 508XT acquisition system featuring 100,000 QuietSeis® digital sensors and a fleet of twenty Nomad 90 Neo broadband vibrator trucks, with equipment delivery expected in Q4 2021. The deal underscores the industry's growing appreciation for low-noise and high-accuracy sensor technology, positioning Sercel as a leader in broadband seismic solutions.
CGG
As of August 31, 2021, CGG reports a total of 711,662,197 shares issued, with 712,328,755 actual voting rights and 712,353,751 theoretical voting rights. Each share carries the same voting rights, save for treasury shares and registered shares held over two years, which receive double voting rights. This information aligns with regulatory requirements under the French Commercial Code and is pertinent for shareholders monitoring voting power dynamics.
CGG has reported its total number of issued shares and voting rights as of July 31, 2021. The company has a total of 711,661,905 issued shares. The actual number of voting rights stands at 711,944,595, while the theoretical voting rights total 711,969,591. All issued shares carry equal voting rights, with treasury shares excluded from voting. This information is provided in compliance with Article L. 233-8 II of the French Commercial Code.
CGG has entered an agreement to sell its GeoSoftware business to Topicus.com and Vela Software. The deal entails Topicus acquiring a 60% interest and Vela a 40% interest in GeoSoftware. The transaction is subject to mutually agreed closing conditions. CGG's CEO stated that Topicus and Vela are well-positioned to enhance the GeoSoftware product suite, promising growth and continued success for the company. This strategic move aligns with CGG's focus on enhancing operational efficiency and fostering long-term relationships.
CGG has released its interim financial report for the period ending June 30, 2021, filed with the Autorité des Marchés Financiers (AMF). The report is accessible on CGG's website under the Investors section. CGG is a prominent global geoscience technology leader, employing approximately 3,700 people worldwide and offering a diverse range of data and services aimed at addressing complex challenges in natural resources, environment, and infrastructure.