Last 42.61 NOK
Change Today -0.63 / -1.46%
Volume 1.9M
PGS On Other Exchanges
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As of 10:25 AM 03/2/15 All times are local (Market data is delayed by at least 15 minutes).

petroleum geo-services (PGS) Snapshot

Open
43.50 NOK
Previous Close
43.24 NOK
Day High
44.23 NOK
Day Low
42.48 NOK
52 Week High
05/6/14 - 75.15 NOK
52 Week Low
12/1/14 - 31.50 NOK
Market Cap
9.3B
Average Volume 10 Days
1.8M
EPS TTM
-0.20 NOK
Shares Outstanding
217.8M
EX-Date
05/15/15
P/E TM
--
Dividend
0.70 NOK
Dividend Yield
5.40%
Current Stock Chart for PETROLEUM GEO-SERVICES (PGS)

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petroleum geo-services (PGS) Details

Petroleum Geo-Services ASA, a marine geophysical company, provides seismic and reservoir services worldwide. The company is engaged in the acquisition, processing, interpretation, and field evaluation of seismic data, which oil and gas companies use to explore for hydrocarbon accumulations, develop new oil and gas fields, and manage their producing fields. It also offers multi-client library data; and provides imaging and reservoir-related processing services to exploration and production companies. The company serves multi-national, independent, and national or state-owned oil companies. Petroleum Geo-Services ASA was founded in 1991 and is headquartered in Oslo, Norway.

Founded in 1991

petroleum geo-services (PGS) Top Compensated Officers

Chief Executive Officer and President
Total Annual Compensation: $2.1M
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $1.1M
Executive Vice President of Operations
Total Annual Compensation: $1.0M
Executive Vice President of Multiclient
Total Annual Compensation: $1.0M
Executive Vice President of Imaging & Enginee...
Total Annual Compensation: $979.8K
Compensation as of Fiscal Year 2013.

petroleum geo-services (PGS) Key Developments

Petroleum Geo-Services ASA Wins Patent Dispute with EMGS

Petroleum Geo-Services ASA announced that Oslo District Court in its judgment of February 13, 2015 ruled in favor of PGS in the lawsuit filed by ElectroMagnetic GeoServices ASA ('EMGS') against PGS for patent infringement relating to PGS' Towed Streamer EM technology. The court found that EMGS' patent NO 324 454 (the 'EMGS Patent') is invalid and that PGS' Towed Streamer EM system therefore does not infringe the EMGS Patent. PGS was also awarded legal fees of NOK 15,292,917. Oslo District Court found that all the elements of the EMGS Patent were sufficiently described (anticipated) by four independent written articles. The judgment was thorough and well written, and its conclusion as expected by PGS. EMGS may appeal the judgment within one month from formal notice.

Petroleum Geo-Services Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Full Year of 2015; Reports Impairment Charge for the Fourth Quarter of 2014

Petroleum Geo-Services ASA announced unaudited consolidated earnings results for the fourth quarter and full year Ended December 31, 2014. For the quarter, revenues were USD 430.1 million against USD 359.5 million a year ago, mainly driven by higher marine contract revenues and MultiClient late sales revenues. EBITDA was USD 211.8 million against USD 201 million a year ago. LBIT was USD 39.7 million against EBIT of USD 66.4 million a year ago. Loss before income taxes was USD 58.0 million against income before income taxes of USD 44.8 million a year ago. Net loss to equity holders was USD 85.5 million against net income to equity holders of USD 30.1 million a year ago. Diluted loss per share was USD 0.40 against diluted earnings per share of USD 0.14 a year ago. Net cash provided by operating activities was USD 131.3 million against USD 211.9 million a year ago. Capital expenditures were USD 36.9 million against USD 73.3 million a year ago. For the full year, revenues were USD 1,453.8 million against USD 1,501.6 million a year ago. The reduction is mainly due to a 19% reduction of MultiClient pre-funding revenues compared to 2013, partially offset by increased marine contract revenues. EBITDA was USD 702.6 million against USD 828.9 million a year ago. EBIT was USD 104.2 million against USD 382.1 million a year ago. Income before income taxes was USD 16.7 million against USD 327.9 million a year ago. Net loss to equity holders was USD 42.7 million against net income to equity holders of USD 238.3 million a year ago. Diluted loss per share was USD 0.20 against diluted earnings per share of USD 1.10 a year ago. Net cash provided by operating activities was USD 584.3 million against USD 775.3 million a year ago. Capital expenditures were USD 371.3 million against USD 437.8 million a year ago. Net interest bearing debt was USD 1,048.0 million compared to USD 666.7 million for the same period a year ago. The company expects full year 2015 EBITDA to be in the range of USD 550 million to 700 million. For the full year of 2015, amortization is expected to be approximately 55%. Capital expenditures are estimated to be approximately USD 250 million, of which slightly below USD 150 million for Ramform Tethys and Ramform Hyperion, both with new delivery dates in 2016. The company recorded an impairment charge of USD 39.7 million in the fourth quarter of 2014 against USD 15.0 million a year ago.

Petroleum Geo-Services Declares Dividend

The board of Petroleum Geo-Services has decided to distribute a dividend of NOK 0.70 per share. The ex-date has been set to May 15.

 

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PGS:NO 42.61 NOK -0.63

PGS Competitors

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Company Last Change
Dolphin Group AS 2.55 NOK -0.15
ION Geophysical Corp $2.28 USD 0.00
Polarcus Ltd 0.57 NOK -0.01
SAExploration Holdings Inc $2.85 USD -0.15
TGS Nopec Geophysical Co ASA 186.20 NOK -0.70
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PGS

Industry Average

Valuation PGS Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.8x
Price/Book 0.6x
Price/Cash Flow 2.5x
TEV/Sales NM Not Meaningful
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