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Last €6.33 EUR
Change Today -0.083 / -1.29%
Volume 1.8M
As of 11:35 AM 06/3/15 All times are local (Market data is delayed by at least 15 minutes).

cgg (CGG) Snapshot

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06/24/14 - €11.31
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12/15/14 - €4.25
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cgg (CGG) Details

CGG, a geoscience company, provides geological, geophysical, and reservoir services to the oil and gas exploration and production industry in North America, the Central and South Americas, Europe, Africa, the Middle East, and the Asia Pacific. The company’s Acquisition segment offers geophysical acquisition services, including land, marine, airborne, and seabed. This segment provides marine seismic 2D and 3D, marine seismic contract data acquisition and multi-client surveys, and marine gravity and bathymetry data processing services. As of December 31, 2014, this segment had a fleet of 13 3D high capacity vessels, 2 source vessels, and 1 3D/2D vessel of lower capacity. This segment is also involved in the acquisition and onsite processing of seismic data acquired on land areas; and the acquisition, processing, and interpretation of airborne geophysical data on land or offshore. Its Geology, Geophysics & Reservoir segment develops and licenses multi-client seismic surveys; processes seismic data; sells seismic data processing and reservoir characterization software under the geovation, Hampson-Russell, Jason, and Insight Earth brands; provides geoscience and petroleum engineering consulting services, and data management services and software; and collects, develops, and licenses geological data. The company’s Equipment develops, produces, and sells seismic equipment in the land and marine seismic markets, as well as offers customer support services, such as training. This segment offers geophysical equipment for seismic data acquisition, including seismic recording equipment, software, and seismic sources for land or marine, as well as supplies integrated solutions to its clients. The company was formerly known as Compagnie Générale de Géophysique — Veritas SA and changed its name to CGG in 2013. CGG was founded in 1931 and is headquartered in Paris, France.

8,540 Employees
Last Reported Date: 04/14/15
Founded in 1931

cgg (CGG) Top Compensated Officers

Chief Executive Officer, Director and Member ...
Total Annual Compensation: €863.1K
Chief Financial Officer, Senior Executive Vic...
Total Annual Compensation: €557.1K
Senior Executive Vice President of Equipment ...
Total Annual Compensation: €546.4K
Compensation as of Fiscal Year 2014.

cgg (CGG) Key Developments

CGG Launches Low-Noise FALCON Plus Airborne Gravity Gradiometry Technology

CGG announced the launch of FALCON Plus, the new release in the highly successful suite of FALCON airborne gravity gradiometer (AGG) systems, halving the survey data noise of the better AGG and providing more effective exploration capabilities. Now, with multiple improvements in hardware, software, and data acquisition technology, the new FALCON Plus halves the noise of the FALCON system. FALCON Plus provides 20 times better spatial resolution (150 m vs. 3000 m] and up to 10 times higher accuracy (0.1 mGal vs. 1.0 mGal) than conventional airborne gravity systems. Additionally, FALCON Plus surveys can immediately be assessed for data accuracy and system noise, assuring consistent high-quality data, while routinely covering in excess of 2,000 km2 per week in a fixed-wing aircraft. Because of its higher resolution, FALCON Plus can be used for detailed mapping of near-surface geology, including ever smaller geological features. Its greater accuracy over conventional airborne gravity also results in superior mapping of basement topography to depths exceeding 6,000m. Falcon Plus can also be successfully deployed in areas of remote and rugged topography, such as in Papua New Guinea or the South American Andes, which pose significant challenges to ground-based gravity acquisition.

CGG's GeoSoftware Business Line Releases Major New Technology -Innovation Across Full Portfolio Reduces E&P Risks

CGG announced that its GeoSoftware Business Line is launching major releases across its full product portfolio. Focused on technology innovation, workflow integration and ease of use across all application suites, Jason 9.0, Hampson-Russell HRS 10.0 and Insight Earth 3.0 enable oil and gas companies to better understand and characterize the Earth's subsurface. Now, more than ever, geoscience software users are required to resolve increasingly complex E&P challenges with fewer resources and progressively more involved applications and workflows. The new capabilities from GeoSoftware provide high-end, integrated and easy-to-use technologies that effectively address these challenges and deliver new insights that reduce the risks associated with exploration and production. From dip-guided auto tracking, anisotropic inversion, stochastic inversion and rock physics to pore pressure, Nuclear Magnetic Resonance (NMR) and formation testing analysis, the new technologies from GeoSoftware rapidly deliver answers for conventional and unconventional reservoirs. Integration with third-party industry software platforms and across high-end GeoSoftware workflows enables users to better characterize prospects and understand reservoir properties and how they evolve over the life of the field.

CGG Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Capital Expenditure Guidance for the Year 2015

CGG announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company has posted operating revenues of USD 569.5 million against USD 806.2 million a year ago. Total income from ordinary activities was USD 569.9 million against USD 806.6 million a year ago. Operating Income was USD 0.7 million against USD 34.5 million a year ago. Loss of consolidated companies before income taxes was USD 46.3 million against USD 10.6 million a year ago. Net loss was USD 54.5 million against USD 39.0 million a year ago. Net loss attributable to owners of the company was USD 55.5 million against USD 40.4 million a year ago. Diluted net loss per share was USD 0.31 against USD 0.23 a year ago. Net cash provided by operating activities was USD 90.8 million against USD 117.8 million a year ago. EBITDA was at USD 145. Negative free cash flow was USD 20 million versus USD 151 million last year. EBIT after NRC was USD 2 million against USD 18 million a year ago. Group net debt was USD 2.386 billion. Total revenues were down 29% year-on-year. The decrease was clearly driven by the perimeter effect for roughly half of it and the other half coming from market conditions, which embeds volume effect, utilization and price condition across the 3 divisions. Total CapEx at USD 110 million were down 56% year-on-year and 30% sequentially. Multi-client cash CapEx at USD 71 million were cut by half year-on-year. Additional CapEx at USD 27 million were cut by 2/3, showing that have put in place a very strict monitoring of spending. And R&D CapEx were low at USD 12 million. On these bases and without compromising not its future, nor its operations, the company has decided to cut further CapEx in 2015 by USD 50 million, which means that CapEx will be coming down by approximately 30% compared to 2014. And this CapEx will be further reduced USD 250 million to USD 275 million, and multi-client cash CapEx will be reduced to USD 350 million to USD 400 million with still a prefunding rate above 70%.


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