Welcome to our dedicated page for CGG news (Ticker: CGG), a resource for investors and traders seeking the latest updates and insights on CGG stock.
CGG (Viridien) delivers cutting-edge geoscience solutions through seismic imaging and digital technologies that address global energy transition needs. This dedicated news hub provides investors and industry professionals with essential updates about the company's technological advancements and strategic initiatives.
Access real-time announcements covering operational milestones, including subsurface data innovations, sensor technology deployments, and sustainable resource management developments. Our curated collection features earnings reports, partnership disclosures, and progress updates on digital transformation projects critical to energy and infrastructure sectors.
Stay informed about CGG's leadership in geophysical surveying and Earth data analytics through verified press materials. The repository serves as a reliable source for tracking the company's contributions to responsible resource exploration and advanced seismic processing methodologies.
Bookmark this page for streamlined access to CGG's latest corporate communications, ensuring you never miss developments in MEMS sensor applications or integrated subsurface imaging solutions. Regular updates provide ongoing insights into how the company shapes data-driven decision-making in complex geological environments.
CGG has signed a binding offer with Pramena Investment & Anacap Financial Partners for the sale and leaseback of its headquarters, Galileo, located in Massy, France. The transaction is expected to close in Q2 2022. This strategic move is part of CGG's ongoing efforts to reduce costs and enhance its balance sheet, as stated by CFO Yuri Baidoukov.
CGG reported its Q4 2021 segment revenue at approximately $301 million, marking a 15% sequential increase and a 12% year-on-year rise, excluding GeoSoftware. The Geoscience segment revenue is expected to be around $93 million, up 37% sequentially and 50% year-on-year. The Multi-Client sales are projected at $114 million, while Equipment sales are down 7% sequentially. For 2021, CGG anticipates a positive net cash flow of $15 million before refinancing costs of $(40) million. Year-end net debt is estimated at $865 million.
CGG, a French société anonyme with a share capital of €7,116,639, disclosed information in accordance with French regulations. As of December 31, 2021, the total number of issued shares was 711,663,925. The company's actual voting rights stood at 712,303,465, while the theoretical voting rights were 712,328,461. This information highlights the voting structure, including details on treasury shares and double voting rights for registered shares held over two years. The report aims to provide transparency to shareholders and stakeholders regarding voting rights.
CGG S.A. has successfully completed the sale of its physical storage assets and related services from the Smart Data Solutions business to OASIS Group and Access Information Management Corporation. The deal encompasses seven specialized storage facilities, with Access acquiring three in North America and OASIS taking four in Europe. This strategic move aims to enhance service delivery for global clients, capitalizing on the strengths of both OASIS and Access in records and information management. CGG's CEO, Sophie Zurquiyah, emphasized this alignment for future growth.
CGG has disclosed its voting rights and share details as of November 30, 2021.
A total of 711,663,027 shares were issued, with 712,358,100 actual voting rights and 712,383,096 theoretical voting rights calculated. All shares possess equal voting rights, barring treasury shares, which lack voting rights, and registered shares held for over two years that enjoy double voting rights.
CGG has launched a new GeoVerse™ Carbon Storage screening study aimed at aiding CCUS operators in identifying viable CO2 storage sites. This comprehensive study covers potential carbon storage plays within the Northern North Sea, utilizing CGG’s North Viking Graben 3D seismic dataset across both UK and Norwegian waters. CEO Sophie Zurquiyah emphasized that this product leverages CGG’s extensive geoscience and data science expertise, contributing to energy transition efforts and expanding the company's offerings in geothermal resource assessment and carbon sequestration.
CGG, along with partners TGS and BGP, has commenced the acquisition of the Suriname 3D Phase 1 project, covering 11,100 square kilometers of new 3D seismic data and 3,000 square kilometers of reprocessed data. This survey targets the Upper Cretaceous channel systems adjacent to Block 58. The BGP Prospector will undertake the acquisition, with data processing conducted at CGG's Houston center using advanced imaging workflows. Early products are expected by April 2022, with final products available by November 2022. The initiative is supported by industry funding.
CGG has licensed its Northern Viking Graben multi-client seismic data to Northern Lights JV DA for CO2 storage projects in the North Sea. This marks a significant step in the CO2 storage market, as Northern Lights operates the first industry-scale CO2 transport and storage initiative. CGG aims to expand its data library to assist in identifying and securing subsurface storage sites and monitoring solutions. The initiative supports the transition to net zero emissions in Europe.
CGG, a French société anonyme, has reported its share capital of €7,116,622 and detailed the voting rights associated with its shares. As of October 31, 2021, the total number of issued shares is 711,662,679, with actual voting rights totaling 712,359,441 and theoretical voting rights at 712,384,437. All shares carry equal voting rights, except treasury shares, which do not have any, while registered shares held for over two years possess double voting rights.
