CGG - CGG STOCK NEWS

Viridien announced changes to its Board of Directors. Helen LEE BOUYGUES resigned as Director on September 11, 2024, to pursue new responsibilities. The Board co-opted Amélie OYARZABAL as new independent Director on October 31, 2024, serving until the end of 2027. OYARZABAL joins the Audit & Risk Management Committee and New Businesses and M&A Committee. Sophie ZURQUIYAH will serve as interim Chairman of the New Businesses and M&A Committee. OYARZABAL brings 25 years of financial advisory experience, including 16 years as Partner at Lazard Frères and current role as Managing Director at Greenhill & Co's French office.

Viridien reported Q3 2024 results with revenue of $246M and adjusted EBITDA of $98M. The company's Digital, Data and Energy Transition (DDE) segment showed strong performance in Geoscience with 32% revenue growth and 91% increase in order intake. Earth Data saw weaker after-sales but increased prefunding from the Laconia project. Sensing & Monitoring revenue declined 51% due to absence of mega crew systems. The company maintains its 2024 financial objectives, with revenue expected in line with 2023, positive EBITDA impact from business mix, and Earth Data cash Capex projected at $230-250M.

Viridien and SLB have completed a new multi-client survey in the Bonaparte Basin, offshore Australia, covering approximately 6,760 sq km. The ultramodern PSDM seismic data acquisition, which received industry support and prefunding, aims to evaluate this prospective yet underexplored area. The final processed data will be available in Q2 2025.

The survey addresses historical imaging challenges in this complex geological area, characterized by carbonates and shallow water. The project utilized Sercel Sentinel MS multi-component streamers and the Sercel QuietSea marine mammal monitoring system. Notably, the survey area partially covers a recently awarded carbon storage block, permit G-13-AP.

Viridien, previously known as CGG, has announced that it will release its third quarter 2024 financial results on Thursday, October 31st, 2024, after the market closes. The company will make the press release and presentation available on its website www.viridiengroup.com at 5:45 pm (CET).

An English language analysts conference call is scheduled for the same day at 6:00 pm (CET). Interested participants can register for the call to receive dial-in information or join via live webcast. A replay of the conference call will be accessible on the company's website for 12 months following the event.

Viridien, a French société anonyme with a share capital of €7,161,465 and registered office in Massy, France, has released information on its total number of voting rights and shares as of September 30, 2024. This disclosure is in compliance with Article L. 233-8 II of the French Commercial Code and Article 223-16 of the AMF General Regulation.

Key figures reported:

• Total number of issued shares: 7,161,465
• Number of actual voting rights: 7,187,374
• Number of theoretical voting rights: 7,187,623

The company notes that all shares have equal voting rights, except for treasury shares (which have no voting rights) and registered shares held for over two years (which have double voting rights). The theoretical voting rights calculation includes shares with single or double voting rights, including non-voting treasury shares.

Viridien has been awarded a comprehensive remote sensing program by Minerals Development Oman (MDO) to identify, map, and rank mineralization prospectivity potential across seven concessions, covering 16,000 km² in Oman. The project aims to support MDO's strategic development of Oman's mineral resources.

Viridien will utilize machine learning, high-performance computing, and advanced processing algorithms to create innovative Bare Earth Plus models. These will be integrated with structural, airborne geophysical, and gamma-ray spectrometry data to identify mineral potential in the Samail and Masirah Ophiolites.

This collaboration underscores MDO's commitment to incorporating AI tools and cutting-edge solutions into their exploration and mining operations. Viridien's expertise in remote sensing and integrated Minerals & Mining solutions aims to support more efficient and accurate decision-making throughout the mining lifecycle.

Viridien, a French société anonyme with a share capital of €7,161,465, has released information on its total number of voting rights and shares as of August 31, 2024. The company, registered in Evry with Trade and Companies Register number 969 202 241, reported the following data:

Total number of issued shares: 7,161,465
Number of actual voting rights: 7,186,256
Number of theoretical voting rights: 7,186,505

The company notes that all shares have the same voting rights, except for treasury shares (which have no voting rights) and registered shares held for more than two years (which have double voting rights). The theoretical voting rights calculation includes shares with single or double voting rights, including treasury shares deprived of voting rights.

Viridien's Sensing & Monitoring business, marketed under the Sercel brand, has sold and delivered 30,000 Sercel WiNG land seismic nodes to DMT GmbH & Co. KG, a global engineering services company based in Germany. DMT plans to use these innovative nodes for large-scale seismic surveys in urban areas, targeting energy resources, including geothermal.

The WiNG nodes feature the ultra-sensitive QuietSeis® sensor, providing optimal data quality for subsurface imaging. They also include Pathfinder transmission management technology for real-time monitoring of the acquisition spread. This contract highlights Viridien's commitment to providing advanced, reliable, and sustainable solutions for seismic surveys in various conditions.

Viridien has released phase 2 of its GeoVerse™ Carbon Storage Screening Study of the Gulf of Mexico, following the successful delivery of phase 1 last year. This comprehensive study complements Viridien's multi-client seismic data, providing extensive subsurface data coverage over the US Gulf of Mexico shallow waters and coastal areas. The timely release aims to accelerate the screening process for identifying high-potential areas in upcoming carbon sequestration lease offerings by the Texas General Land Office and School Land Board.

The full product offers an integrated package of interactive ArcGIS-compatible screening maps, digitized well data, and merged legacy seismic data across the Gulf of Mexico basin's shallow water shelf. This region contains several large-scale aquifer stores throughout the stratigraphic section, making it a key area of interest for the CCUS industry.