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 reported a strong Q3 2021 performance with segment revenue soaring by 35% year-on-year to $270 million, while segment EBITDAs more than doubled to $118 million. The Geoscience segment maintained stable revenue at $77 million, while Multi-Client and Equipment segments experienced substantial increases, with sales up 26% and 105% respectively. Despite a group net loss of $(17) million, cash liquidity improved to $240 million. The company continues to leverage its technological advancements to capture new growth opportunities amidst a strengthening demand environment.
CGG, PGS, and TGS have launched Versal, a groundbreaking unified ecosystem for accessing seismic data from multiple vendors. Announced on October 28, 2021, this cloud-based platform provides clients access to over 70% of the seismic multi-client market via a single login. The initiative aims to streamline workflows, enhancing data accessibility for exploration and production teams. Company leaders from CGG, PGS, and TGS express confidence that Versal will transform workflows and improve decision-making efficiency for energy companies.
CGG will announce its Q3 2021 financial results on November 3, after market close. The company plans to publish its quarterly financial communication at 5:45 PM CET and hold a management conference call at 6:30 PM CET on the same day. Interested parties can access the conference call via audio webcast on the company's website. A replay will be available for 12 months. CGG is a leading global geoscience technology provider, employing approximately 3,700 people worldwide, delivering various data and solutions for resource and environmental challenges.
CGG, in collaboration with TGS and BGP, has signed a multi-client agreement with Staatsolie for seismic programs in offshore Suriname, announced on October 20, 2021. This initiative will involve acquiring new 3D seismic data and reprocessing existing data in the region's shallow water acreage, which includes newly awarded blocks and additional open acreage. The new data aims to enhance understanding of the area's potential, particularly following recent discoveries in block 58. Initial data acquisition is set to begin in Q4 2021, with results expected in H1 2022.
CGG anticipates Q3 2021 segment revenue to reach approximately $270 million, reflecting a 35% year-on-year increase and a 72% sequential rise. Key segments are:
- Geoscience: $77 million (stable year-on-year, +5% sequential)
- Multi-Client: $92 million (+26% year-on-year, +149% sequential)
- Equipment: $101 million (+102% year-on-year, +110% sequential)
CGG will release full Q3 results on November 3, 2021, and has updated its financial communication schedule to better accommodate investors.
CGG released information detailing its total voting rights and shares as of September 30, 2021. The company has a total of 711,662,205 issued shares, with 712,328,962 actual voting rights and 712,353,958 theoretical voting rights. All issued shares carry the same voting rights, except treasury shares, which do not have voting rights. The press release adheres to Article L. 233-8 II of the French Commercial Code and Article 223-16 of the General Regulation of the French market authority (AMF).
CGG S.A. has successfully finalized the sale of its GeoSoftware business to Topicus.com Inc. and Vela Software for a total cash amount of US$95 million. This transaction became effective on October 1, 2021, following prior announcements. The sale represents a strategic move for CGG, which is recognized as a leader in geoscience technology, employing approximately 3,700 people globally. The company is dedicated to providing a wide range of solutions addressing complex challenges in natural resources and environmental sectors.
CGG has awarded Sercel a significant contract to provide land seismic equipment for a 3D mega-crew survey in North Africa. This contract includes a 508XT acquisition system featuring 100,000 QuietSeis® digital sensors and a fleet of twenty Nomad 90 Neo broadband vibrator trucks, with equipment delivery expected in Q4 2021. The deal underscores the industry's growing appreciation for low-noise and high-accuracy sensor technology, positioning Sercel as a leader in broadband seismic solutions.
CGG
As of August 31, 2021, CGG reports a total of 711,662,197 shares issued, with 712,328,755 actual voting rights and 712,353,751 theoretical voting rights. Each share carries the same voting rights, save for treasury shares and registered shares held over two years, which receive double voting rights. This information aligns with regulatory requirements under the French Commercial Code and is pertinent for shareholders monitoring voting power dynamics.
CGG has reported its total number of issued shares and voting rights as of July 31, 2021. The company has a total of 711,661,905 issued shares. The actual number of voting rights stands at 711,944,595, while the theoretical voting rights total 711,969,591. All issued shares carry equal voting rights, with treasury shares excluded from voting. This information is provided in compliance with Article L. 233-8 II of the French Commercial Code.
