CGG Stock Price, News & Analysis

CGG (historically associated with the ticker CGG) is linked in recent disclosures to Viridien, which describes itself as an advanced technology, digital and Earth data company. According to Viridien’s public communications, the group focuses on using Earth data and high-end imaging technologies to address complex challenges related to natural resources, digital applications, the energy transition and infrastructure. Viridien states that it is listed on Euronext Paris under the symbol VIRI and operates as a French société anonyme.

In its "About Viridien" sections, the group presents itself as a company that "pushes the boundaries of science" through advanced technology, digital capabilities and Earth data. Its activities are described as covering natural resources, energy transition and infrastructure challenges, with an emphasis on efficiency and responsibility. The company highlights the role of data, digital tools and subsurface imaging in supporting decision-making for complex projects.

Business activities and segments

Viridien’s financial communications describe several internal business lines. A major area is Data, Digital and Energy Transition (DDE), which includes Geoscience and Earth Data (EDA). Geoscience is associated with subsurface imaging and related services, while Earth Data focuses on Earth data surveys and multi-client data libraries. Another business line is Sensing and Monitoring (SMO), which covers land and marine activities and other sensing-related operations.

Within these activities, Viridien emphasizes high-end subsurface imaging and Earth data solutions. For example, the group has announced multi-client seismic surveys and reimaging programs, such as the Megabar Extension Phase I survey in the Barreirinhas Basin offshore Brazil and a seismic reimaging program over offshore block 22 in Angola. These projects involve multi-client 3D seismic surveys and reimaging of existing data sets, using proprietary imaging technologies.

Technology and Earth data focus

Viridien’s announcements describe the use of proprietary subsurface imaging technologies, including time-lag full-waveform inversion (TL-FWI), reverse time migration (RTM), time-lag FWI, Q-FWI, Q-Kirchhoff, and advanced deghosting and demultiple. These techniques are applied to generate high-end seismic and Earth data products, which the company positions as tools to improve geological understanding, reveal new play potential, and support exploration and evaluation activities.

In Angola, Viridien has communicated that it will reimage data over offshore block 22 to support an upcoming licensing round, providing a high-end data set over thousands of square kilometers. In Brazil, the Megabar Extension Phase I survey in the Barreirinhas Basin is described as a multi-client 3D seismic project designed to provide the first ultramodern 3D seismic data set in a specific area with proven geological potential but no existing 3D data. Imaging for this survey is to be conducted by Viridien’s subsurface imaging experts using its proprietary technologies.

Financial and organizational profile

Viridien’s financial updates describe segment revenue and performance across its business lines, as well as net cash flow generation, capital expenditure and net debt metrics. The group has communicated an "asset-light" strategy and a focus on deleveraging, including bond redemptions and liability management. It has also highlighted cash generation from its core activities, particularly in Data, Digital and Energy Transition and Earth Data late sales.

The company describes itself as employing around 3,200 people worldwide and being listed as VIRI on Euronext Paris. It is registered as a French société anonyme with its registered office in Massy, France, and is recorded in the Evry Trade and Companies Register. Viridien’s communications also reference interactions with the French Financial Markets Authority (AMF) for regulatory disclosures such as monthly information on the total number of voting rights and shares.

Governance and corporate structure

Viridien has reported on its governance structure, including the roles of its Board of Directors and the separation of the functions of Chair and Chief Executive Officer. The Board has described a transition in which the roles of Chair and CEO are dissociated, with the Chair focusing on strategic continuity and long-term vision, and a designated Group CEO assuming executive responsibilities following a transition period as Chief Operating Officer. The Board also refers to an Appointment, Remuneration and Governance Committee and a Lead Director position as part of its governance framework.

In its governance communications, the company notes that it follows what it describes as best governance practices, including the role of a Lead Director and the use of Board committees. It also emphasizes the role of leadership in repositioning the group as an asset-light, technology-driven company with a more diverse portfolio and a stronger financial foundation.

Capital structure and voting rights

Viridien regularly publishes information on its total number of issued shares, actual voting rights and theoretical voting rights, in accordance with Article L. 233-8 II of the French Commercial Code and Article 223-16 of the AMF General Regulation. These disclosures explain that all shares carry the same voting rights, except for treasury shares, which have no voting rights, and registered shares held for more than two years, which have double voting rights. The theoretical number of voting rights includes treasury shares and is calculated based on shares with single or double voting rights.

These monthly AMF disclosures provide transparency on the company’s share capital and voting rights structure. They also reflect changes in the total number of issued shares and voting rights over time, as required by French market regulations.

Position in the energy and Earth data ecosystem

Based on Viridien’s own descriptions, the group positions itself within the broader ecosystem of energy, natural resources and infrastructure by focusing on advanced Earth data and digital technologies. Its projects in Brazil and Angola, and its collaborations with partners such as TGS and national energy agencies, illustrate its role in providing seismic and Earth data to support exploration and licensing activities.

The company’s communications highlight that its Earth data library and subsurface imaging capabilities are intended to help operators evaluate plays, de-risk exploration, and support decision-making in areas with proven petroleum systems or underexplored structures. At the same time, Viridien presents its activities as contributing to energy transition and infrastructure challenges, reflecting a broader scope beyond traditional exploration.

Relationship between CGG and Viridien

The news and regulatory-style disclosures provided refer consistently to Viridien, while the symbol information references CGG. The materials do not explicitly describe the historical or legal relationship between the CGG ticker and the Viridien name, nor do they provide specific details on any renaming or rebranding process. However, the recurring description of Viridien as an advanced technology, digital and Earth data company, registered in France and listed on Euronext Paris, indicates that current public communications about the group’s activities, governance and financial performance are made under the Viridien name and the VIRI ticker.

Key points for investors and observers

• Viridien describes itself as an advanced technology, digital and Earth data company focused on natural resources, digital, energy transition and infrastructure challenges.
• The group reports business lines including Data, Digital and Energy Transition (with Geoscience and Earth Data) and Sensing and Monitoring.
• It conducts multi-client seismic surveys and reimaging programs, such as projects offshore Brazil and Angola.
• Viridien is a French société anonyme registered in Massy, France, and states that it is listed on Euronext Paris under the symbol VIRI.
• The company communicates an asset-light strategy, a focus on cash generation and deleveraging, and regular updates on its share capital and voting rights.
• Governance disclosures describe a Board of Directors, separation of Chair and CEO roles, and Board committees overseeing appointments and remuneration.