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Last €4.25 EUR
Change Today -0.022 / -0.51%
Volume 3.1M
CGG On Other Exchanges
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As of 11:35 AM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

cgg sa (CGG) Snapshot

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12/4/14 - €8.87
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08/24/15 - €3.21
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cgg sa (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 sa (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 sa (CGG) Key Developments

CGG SA Reports Earnings Results for the Six Months Ended June 30, 2015

CGG SA reported earnings results for the six months ended June 30, 2015. For the six months, the company reported net loss attributable to owners of the company was $117 million, or $0.66 loss per share, compared to a net loss attributable to owners of the company of $366.9 million, or $2.07 loss per share, for the same period ended June 30, 2014. Operating revenues were $1.04 billion, compared to $1.49 billion for the same period ended June 30, 2014.

CGG Reports Earnings Results for the Second Quarter and First Half Ended June 2015; Provides Capital Expenditure Guidance for the Year 2015

CGG reported earnings results for the second quarter and first half ended June 2015. For the quarter, the company reported revenues down 31% year-over-year. GAAP loss per share was $0.35, compared to the year-ago loss of $0.35. Net loss was $61 million on revenues of $473 million, compared to loss of $325 million on revenues of $689 million in the year-earlier period. EBITDA was $106 million, compared to $98 million in the year-earlier period. Total revenue was $473 million, down 17% sequentially. The decrease was clearly driven by poor market conditions embedding volume effect, utilization and price conditions across the group. Operating loss before non-recurring item was at $25 million. LBIT was $9 million including the $50 million positive contribution from the equity from investees mainly on the Seabed Geosolutions JV, which is back into black, and Argas in the Middle East. Operational cash flow was only down 13% this quarter-on-quarter at $101 million. Total CapEx at $150 million were quite stable sequentially with multi-client cash CapEx at $79 million. CapEx were at $26 million, a low level compared to last year. And R&D CapEx stood at $10 million. The combination of the cash flow from operation, the global CapEx and $49 million of interest paid this quarter led to $64 million of free cash outflow compared free cash outflow of $20 million last quarter. For the first half, CapEx discipline led to a better free cash outflow at $83 million compared to $204 million in first half of 2014. The company has decided an additional cut to CapEx in 2015 by $50 million. So they will be globally coming down by approximately 40% compared to last year. Industrial CapEx will therefore be reduced to the range of $125 million to $150 million, and multi-client cash CapEx will be reduced to the range $325 million to $375 million with a pre-funding rate of above 70%.

Tanzania Petroleum Development Corporation Awards CGG Airborne Gravity Gradiometer Surveys

CGG announced that it has been awarded a contract by the Tanzanian Petroleum Development Corporation (TPDC) to acquire high-resolution gravity gradiometry and aeromagnetic data over two onshore areas along the South-Eastern Tanzanian Coastal Basin and the eastern arm of the East African Rift. Acquisition over a total area of 30,000 sq km will commence in mid August 2015 and is scheduled to last up to two months. Using the noise Gravity Gradiometry, FALCON, the company will deliver high-resolution data and interpretation to help evaluate the hydrocarbon potential of these basins ahead of future licensing rounds. Tanzania has already established itself as a highly prospective hydrocarbon province in East Africa with a series of significant discoveries offshore and the company is excited to be part of this next phase of TPDC's exploration of the onshore basins. This survey will benefit from the experience gained through the completion of many projects throughout Africa using the most advanced technologies available in the industry.


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