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Last 36.60 NOK
Change Today -0.68 / -1.82%
Volume 1.8M
PGS On Other Exchanges
Symbol
Exchange
PGS is not on other exchanges.
As of 10:25 AM 08/3/15 All times are local (Market data is delayed by at least 15 minutes).

petroleum geo-services (PGS) Snapshot

Open
36.98 NOK
Previous Close
37.28 NOK
Day High
37.52 NOK
Day Low
36.23 NOK
52 Week High
05/6/15 - 55.75 NOK
52 Week Low
12/1/14 - 31.50 NOK
Market Cap
8.0B
Average Volume 10 Days
1.6M
EPS TTM
-0.75 NOK
Shares Outstanding
217.8M
EX-Date
05/15/15
P/E TM
--
Dividend
0.70 NOK
Dividend Yield
1.91%
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 a range of seismic and reservoir services worldwide. The company is involved in the acquisition, imaging, interpretation, and field evaluation of seismic data to oil and gas companies, which use this data to explore for hydrocarbon accumulations, to develop new oil and gas fields, and to manage their producing fields. It also offers electromagnetic services, reservoir analysis/interpretation services, and multi-client library data. Petroleum Geo-Services ASA was founded in 1991 and is headquartered in Oslo, Norway.

2,301 Employees
Last Reported Date: 04/15/15
Founded in 1991

petroleum geo-services (PGS) Top Compensated Officers

Chief Executive Officer and President
Total Annual Compensation: $1.3M
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $761.2K
Executive Vice President of Operations
Total Annual Compensation: $731.0K
Executive Vice President of Multiclient
Total Annual Compensation: $729.9K
Executive Vice President of Imaging & Enginee...
Total Annual Compensation: $684.6K
Compensation as of Fiscal Year 2014.

petroleum geo-services (PGS) Key Developments

Petroleum Geo-Services ASA Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Revised Earnings Guidance for the Full Year of Fiscal 2015

Petroleum Geo-Services ASA announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company announced revenues of $255.8 million compared to $337.0 million for the same period a year ago. The second quarter revenues, reflecting significant market-driven revenue decline of 24% in the second quarter and 19% year-to-date as compared to the same periods last year. The decline is driven by Marine Contract revenue decline. EBITDA was $125.1 million compared to $170.6 million for the same period a year ago. EBIT ex. impairment and other charges was $15.9 million compared to $55.0 million for the same period a year ago. LBIT as reported was $45.7 million compared to EBIT of $46.2 million for the same period a year ago. Loss before income tax expense was $57.9 million compared to income before income tax of $34.5 million for the same period a year ago. Net loss attributable to equity holders was $63.8 million or $0.30 per basic share compared to net income attributable to equity holders of $29.7 million or $0.14 per basic share for the same period a year ago. Net cash provided by operating activities was $83.1 million compared to $40.2 million for the same period a year ago. Investment in property and equipment was $72.2 million compared to $123.2 million for the same period a year ago. Investment in other intangible assets was $3.6 million compared to $5.1 million for the same period a year ago. The lower revenues are mainly due to a 51% reduction in contract revenues and a 44% reduction in MultiClient late sales, partially offset by a 50% increase in MultiClient pre-funding revenues. CapEx in the second quarter related primarily to the new builds, including the installment for the floating of Ramform Tethys which happened in June. The $80 million related to the sale of Apollo was received in the second quarter and is included in other investing activities in the cash flow statement. For the six months, the company announced revenues of $506.9 million compared to $629.5 million for the same period a year ago. EBITDA was $252.6 million compared to $309.2 million for the same period a year ago. EBIT ex. impairment and other charges was $29.5 million compared to $100.1 million for the same period a year ago. LBIT as reported was $34.8 million compared to EBIT of $91.4 million for the same period a year ago. Loss before income tax expense was $67.9 million compared to income before income tax of $47.2 million for the same period a year ago. Net loss attributable to equity holders was $83.3 million or $0.39 per basic share compared to net income attributable to equity holders of $34.3 million or $0.24 per basic share for the same period a year ago. Net cash provided by operating activities was $295.4 million compared to $222.1 million for the same period a year ago. That's 33% better than first half 2014. Primary driver is good working capital management. And as a result, the company has, for the first half year, a significant positive cash flow or free cash flow before financing activities. Net interest bearing debt at the end of the period was $995.0 million compared to $1,091.5 million for the same period a year ago. Investment in property and equipment was $102.9 million compared to $267.3 million for the same period a year ago. Investment in other intangible assets was $8.5 million compared to $11.8 million for the same period a year ago. Reduction in revenue is mainly due to a 47% reduction in contract revenues, while a 28% reduction in MultiClient late sales Revenue was more than offset by a 33% increase in MultiClient pre-funding revenues. The company revised earnings guidance for the full year of fiscal 2015. Based on the current operational projections and with reference to disclosed risk factors, the company expects full year 2015 EBITDA to be in the lower range of the guided interval $550 million to $700 million. Capital expenditures are estimated to be approximately $225 million, of which almost $150 million is for the new builds Ramform Tethys and Ramform Hyperion.

Petroleum Geo-Services ASA, Q2 2015 Earnings Call, Jul 23, 2015

Petroleum Geo-Services ASA, Q2 2015 Earnings Call, Jul 23, 2015

Petroleum Geo-Services ASA, Q2 2015 Earnings Call, Jul 23, 2015

Petroleum Geo-Services ASA, Q2 2015 Earnings Call, Jul 23, 2015

 

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PGS:NO 36.60 NOK -0.68

PGS Competitors

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Company Last Change
CGG SA €4.40 EUR -0.165
Dolphin Group AS 1.15 NOK -0.06
ION Geophysical Corp $0.76 USD -0.0257
Key Energy Services Inc $0.98 USD +0.0725
TGS Nopec Geophysical Co ASA 170.60 NOK -1.70
View Industry Companies
 

Industry Analysis

PGS

Industry Average

Valuation PGS Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.7x
Price/Book 0.5x
Price/Cash Flow 3.1x
TEV/Sales NM Not Meaningful
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