Technip Drops Plans to Acquire CGG
Paris, France - 14 December, 2014
CGG notes the announcement made by Technip today that it no longer intends to file a tender offer for CGG. Since the beginning of this unsolicited approach by Technip on November 10, CGG remained open to dialogue and studied all proposals of Technip taking into account the interests of its shareholders, clients and employees.
CGG Confirms Another Client Commitment to its StagSeis Solution in the Gulf of Mexico
The Right Data, in the Right Place, at the Right Time
Paris, France - 21 November 2014
CGG announced today another significant commitment from an Exploration and Production company to its StagSeisTM multi-client solution in the Gulf of Mexico, this time with an earlier prefunder expanding their position. Following completion of acquisition in October, StagSeis presales of all three surveys, IBALT, DEUX and TROIS, have continued to strengthen, both with new companies joining, and with repeat customers increasing their commitments.
Unsolicited Approach by Technip
Paris, France - 20 November 2014
CGG confirms having been approached by Technip in an unsolicited manner in respect of a potential combination. CGG has considered that the conditions to pursue were not met.
CGG Robertson and Wood Mackenzie Launch New EV2 Exploration Valuation Tool
Two Companies are Partnering to Deliver Unmatched Volume and Valuation Intelligence to Give Clients the Edge in Exploration
Paris, Edinburgh, Houston, Singapore – 12th November 2014
Recently, the oil & gas exploration industry has experienced a significant shift in strategic emphasis towards value over volume. Recognizing the need to accurately assess the future potential of licensed and unlicensed acreage, CGG’s Robertson group and Wood Mackenzie are launching EV2 – a brand new exploration valuation tool – with an advance release of ten ‘hot’ basins.
CGG Announces Third Quarter 2014 Results
Resilient third quarter operating income
Transformation Plan on track
Successful amendment of our Credit Agreements
PARIS, France – November 6th, 2014 – CGG (ISIN: 0000120164 – NYSE: CGG), world leader in Geoscience, announced today its non-audited 2014 third quarter results. Resilient third quarter operating income in difficult market environment
Revenue sequentially stable at $694m
Operating income, before Non-Recurring Charges (NRC), at $51m, up 13% sequentially, with solid GGR performance
EBIT at $40m and at $(24)m after NRC linked to the Transformation Plan ($(9)m) and Seabed Geosolutions JV impairment ($(55)m)
Backlog at $1.
CGG Launches PowerLog Frac
Game-Changing Software Drives Faster, Better Models for Hydraulic Fracturing Projects
Paris, France – 29 October 2014
CGG announced the release of PowerLog® Frac, a new tool to petrophysically analyze well log data and directly feed results into fracture simulation software. Completions engineers use the resulting models to design better hydraulic fracturing projects and improve well performance.
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