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Last 0.87 NOK
Change Today +0.03 / 3.57%
Volume 844.8K
EMGS On Other Exchanges
EMGS is not on other exchanges.
As of 10:25 AM 09/2/15 All times are local (Market data is delayed by at least 15 minutes).

electromagnetic geoservices (EMGS) Snapshot

0.87 NOK
Previous Close
0.84 NOK
Day High
1.02 NOK
Day Low
0.85 NOK
52 Week High
12/19/14 - 4.80 NOK
52 Week Low
08/24/15 - 0.80 NOK
Market Cap
Average Volume 10 Days
-0.03 NOK
Shares Outstanding
Dividend Yield

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electromagnetic geoservices (EMGS) Details

Electromagnetic Geoservices ASA, together with its subsidiaries, provides electromagnetic (EM) surveying services to the offshore oil and gas exploration industry worldwide. It is involved in acquisition, processing, modelling, interpretation, and integration of EM data, as well as provision of training services. The company uses its patented EM survey method to help oil and gas companies in their search for hydrocarbons in offshore reservoirs. Electromagnetic Geoservices ASA was founded in 2002 and is headquartered in Trondheim, Norway.

311 Employees
Last Reported Date: 03/19/15
Founded in 2002

electromagnetic geoservices (EMGS) Top Compensated Officers

Chief Financial Officer
Total Annual Compensation: 2.3M NOK
Chief Operating Officer and Chief Technical O...
Total Annual Compensation: 2.2M NOK
Executive Vice President of Strategic Develop...
Total Annual Compensation: 2.1M NOK
Compensation as of Fiscal Year 2014.

electromagnetic geoservices (EMGS) Key Developments

Electromagnetic Geoservices ASA Announces Management Changes

Bjarte Bruheim has decided to step down as Chief Executive Officer of Electromagnetic Geoservices ASA with immediate effect. Until a permanent CEO is in place, Stig Eide Sivertsen has been appointed new CEO. As the CEO cannot be a member of the board of directors, according to the Norwegian Public Limited Liability Companies Act, Sivertsen has voluntarily resigned as board member with immediate effect. Sivertsen has served on the Board and chaired the company's audit committee. He has previously, among others, worked for Schibsted ASA, Petroleum-Geo services ASA and Telenor ASA.

EMGS Reports Multi-Client Sales from Barents Sea and Norwegian Sea

Electromagnetic Geoservices ASA (EMGS) has entered into two new data licensing agreements with two oil companies for the provision of 3D EM data from EMGS' multi-client data library over the Barents Sea and the Norwegian Sea worth USD 1.6 million.

Electromagnetic Geoservices ASA Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Records Goodwill Impairment for the Second Quarter Ended June 30, 2015

Electromagnetic Geoservices ASA reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. The company reported total revenue of USD 12.1 million, LBITDA of USD 6 million, LBIT of USD 25.2 million, loss before tax of USD 25.9 million, net loss of USD 26 million against total revenue of USD 42.5 million, EBITDA of USD 10.9 million, EBIT of USD 2.3 million, loss before tax of USD 0.6 million, net loss of USD 2.5 million a year ago. Net cash flow from operating activities was USD 18.4 million against USD 10.7 million a year ago. The decrease in revenues is related to less contract work this year than in the corresponding period last year. Purchase of property, plant and equipment was USD 3,165,000 against USD 6,414,000 a year ago. For the six months, the company reported total revenue of USD 44.3 million, EBITDA of USD 1.3 million, LBIT of USD 24.5 million, loss before tax of USD 27.1 million, net loss of USD 27.2 million against total revenue of USD 103.8 million, EBITDA of USD 31.4 million, EBIT of USD 15 million, profit before tax of USD 11.1 million, net profit of USD 5.8 million a year ago. Net cash flow from operating activities was USD 46.6 million against USD 10.1 million a year ago. Purchase of property, plant and equipment was USD 5,760,000 against USD 8,926,000 a year ago. The company recorded goodwill impairment of USD 14,422,000 for the second quarter ended June 30, 2015.


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