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, a French société anonyme, has reported its monthly update as of April 30, 2021. The company disclosed that it has a total of 711,394,621 shares in circulation and 711,685,064 theoretical voting rights. This report complies with Article 223-16 of the General Regulation of the French market authority, which mandates such disclosures.
CGG has introduced SeaScope, an innovative pollution monitoring solution, enhancing its portfolio for environmental applications. This tool utilizes remote sensing, machine learning, and high-performance computing to provide critical sea surface slick intelligence for various industries. SeaScope aids energy companies in monitoring offshore assets, establishing water baselines, and detecting pollution incidents, thereby supporting environmental responsibility. Developed with the European Space Agency, SeaScope was successfully demonstrated in the North Sea and Gulf of Mexico, promising scalable remote monitoring across global assets.
CGG announced that Sercel and Low Impact Seismic Sources (LISS) have commenced exclusive negotiations for LISS's acquisition by Sercel. This acquisition focuses on the TPS (Tuned Pulse Source), enhancing marine seismic capabilities with low-frequency outputs. The TPS solution improves quantitative interpretations, promotes deeper explorations, and minimizes environmental impact. Shell supports further in-sea testing and aims to conduct a commercial survey using the TPS later in the year. Sercel's CEO highlighted LISS's contribution to their existing seismic product portfolio.
CGG has announced the delivery of fast-track data from its Agata Reimaging program over 9,300 sq km in Brazil's Santos Basin, a key area for oil and gas exploration. This advanced seismic data will aid companies in evaluating the potential of the Agata block ahead of Brazil's 7th Production Sharing Bidding Round. The program enhances imaging quality using the latest technologies, with Phase I data available in May and Phase II expected in August 2021. The initiative aims to support industry decision-making and improve exploration outcomes in this challenging geological area.
CGG will hold a Combined General Meeting on May 12, 2021, at 10:30 a.m. Paris time, conducted virtually due to the COVID-19 crisis. Shareholders can participate remotely and must vote by mail or electronically prior to the meeting. CGG will also release its first quarter 2021 results on the same day, before the Paris stock exchange opens. An analyst conference call will follow at 8:00 a.m. Paris time, with all information accessible on CGG's website.
CGG has entered a strategic agreement with dCarbonX to assist in assessing subsurface clean energy projects in Ireland and the UK, including geothermal energy and CO2 storage. This collaboration aims to facilitate the transition from fossil fuels to renewable energy. CGG will leverage its advanced geoscience solutions to evaluate and de-risk these subsurface sites. Both companies are committed to pioneering sustainable energy solutions, with dCarbonX focusing on innovative decarbonization methods. This partnership highlights CGG's dedication to supporting climate initiatives and advancing energy transition technologies.
CGG announces its Combined General Meeting to be held on May 12, 2021, at 10:30 am at its registered office in Massy, France, behind closed doors due to health measures. Shareholders will not be able to attend physically but can vote remotely prior to the meeting. A live audio broadcast will be available on the company's website. The meeting will follow regulations regarding public health and safety, with no new resolutions allowed during the session. Preparatory documents related to the meeting are available online.
CGG has been selected by the European Space Agency to lead a study focused on developing new technologies to tackle plastic pollution in marine environments. Collaborating with Mott MacDonald and Brunel University London, CGG will analyze data and employ AI models to create innovative monitoring solutions. The first phase of the project will last 12 months, assessing the feasibility and commercial viability of satellite-based services designed to detect floating plastic aggregations. CEO Sophie Zurquiyah emphasized the urgency of effective monitoring to mitigate environmental impacts.
CGG has released its monthly report for March 31, 2021, detailing its share capital and voting rights. The company holds a share capital of €7,113,942, with a total of 711,394,241 shares and 711,679,217 theoretical voting rights. This data is in compliance with Article 223-16 of the General Regulation of the French market authority. The registered office is located at 27 avenue Carnot, Massy, France. These figures provide insights into the company's share structure and governance.
CGG announced the issuance of $500 million in 8.75% Senior Secured Notes and €585 million in 7.75% Senior Secured Notes, both due in 2027. This issuance was a prerequisite for settling a tender offer for existing first lien senior secured notes due 2023, which expired on March 29, 2021. Additionally, CGG secured a $100 million Revolving Credit Facility linked partially to greenhouse gas emission targets. Proceeds will be used to settle various existing notes and cover associated costs.