TGS 2013 Guidance and Q4 2012 Update
ASKER, NORWAY TGS announces 2013 full year guidance and Q4 2012 update.
Based on preliminary reporting from operating units, TGS management expects net revenues for the fourth quarter of 2012 to be approximately 280 MUSD, bringing estimated net revenues for the full year of 2012 to approximately 931 MUSD, 53% higher than 2011. Multi-client investments for the fourth quarter are expected to be approximately 93 MUSD. Management will give a full report of Q4 2012 results on 7 February 2013.
For 2013 the guidance is as follows:
-Multi-client investments 530 600 MUSD
-Average pre-funding 50 60%
-Average multi-client amortization rate 40 46%
-Net revenues 970 1050 MUSD
-Contract revenues approximately 5% of total revenues
To access a presentation on the guidance via webcast go to the Company website at www.tgs.com
The slides from the presentation are also available in PDF format at both the TGS and Oslo Stock Exchange websites.
CEO Robert Hobbs and CFO Kristian Johansen will also host a conference call on 8 January 2013 at 15:00 CET Norway time (9:00 AM New York time). Attendees may want to call 5-10 minutes before 15:00 CET (9:00 AM NY) to ensure registration and access.
-Norwegian attendees are invited to call +800 56054 or +47 2316 2771
-International attendees are invited to call 0800 279 4992 or +44 (0)20 7136 2055
-US attendees are invited to call +1 877 280 2296
Participants will need to quote the following confirmation code when dialing into the conference: 4175002.
A Q&A session will follow a short introduction, based upon the presentation issued in the morning. To pose a question, please press *1.
A replay of the conference call will be available shortly after. To access replay of the TGS conference call,
-dial +47 2100 0498 (Norway) or +44 (0)20 3427 0598 (International) or +1 347 366 9565 (US)
-replay access code 4175002 followed by # (pound-sign)
A replay of the conference call will also be available at www.tgs.com.
TGS provides multi-client geoscience data to oil and gas Exploration and Production companies worldwide. In addition to extensive global geophysical and geological data libraries that include multi-client seismic data, magnetic and gravity data, digital well logs, production data and directional surveys, TGS also offers advanced processing and imaging services, interpretation products, permanent reservoir monitoring and data integration solutions.
All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS reliance on a cyclical industry and principal customers, TGS ability to continue to expand markets for licensing of data, and TGS ability to acquire and process data product at costs commensurate with profitability. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.
TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange (OSLO:TGS).
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