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 (www.cgg.com) is a global technology leader, specializing in providing cutting-edge data, products, services, and solutions in the realms of Earth science, data science, and sensing and monitoring. Headquartered in Paris, France, CGG is renowned for its high-performance computing (HPC) capabilities, supporting clients in efficiently addressing complex challenges across digital transformation, energy transition, natural resource management, environmental sustainability, and infrastructure development.
Employing approximately 3,400 people worldwide, CGG is listed on the Euronext Paris SA (ISIN: 0013181864). The company’s diverse portfolio is designed to deliver robust and reliable solutions tailored to meet the evolving needs of its clientele, ensuring maximum productivity and reduced downtime even in the harshest environments.
In a notable recent development, Sercel, CGG's Sensing & Monitoring division, announced its first major sale of the 528™ cable-based land acquisition system to the Turkish Petroleum International Corporation (TPIC). This advanced system, comprising 8,000 channels, will be deployed in a 3D seismic survey in Turkey’s challenging semi-arid terrain, with the survey slated to commence in Q3 2024. The 528™ system, known for its lightweight and low power consumption, exemplifies Sercel’s commitment to enhancing client ROI through innovative technology.
CGG's recent financial news highlights robust performance with first-quarter 2024 segment financial results showcasing substantial progress. Adjusted for non-recurring charges and gains, the financial statements reflect the company's strategic investments and operational efficiency.
For more details on CGG’s AI Cloud offering and other solutions, visit their official website. Stay updated with the latest news and developments to understand how CGG is shaping the future of technology and sustainability.
CGG has entered a strategic agreement with dCarbonX to assist in assessing subsurface clean energy projects in Ireland and the UK, including geothermal energy and CO2 storage. This collaboration aims to facilitate the transition from fossil fuels to renewable energy. CGG will leverage its advanced geoscience solutions to evaluate and de-risk these subsurface sites. Both companies are committed to pioneering sustainable energy solutions, with dCarbonX focusing on innovative decarbonization methods. This partnership highlights CGG's dedication to supporting climate initiatives and advancing energy transition technologies.
CGG announces its Combined General Meeting to be held on May 12, 2021, at 10:30 am at its registered office in Massy, France, behind closed doors due to health measures. Shareholders will not be able to attend physically but can vote remotely prior to the meeting. A live audio broadcast will be available on the company's website. The meeting will follow regulations regarding public health and safety, with no new resolutions allowed during the session. Preparatory documents related to the meeting are available online.
CGG has been selected by the European Space Agency to lead a study focused on developing new technologies to tackle plastic pollution in marine environments. Collaborating with Mott MacDonald and Brunel University London, CGG will analyze data and employ AI models to create innovative monitoring solutions. The first phase of the project will last 12 months, assessing the feasibility and commercial viability of satellite-based services designed to detect floating plastic aggregations. CEO Sophie Zurquiyah emphasized the urgency of effective monitoring to mitigate environmental impacts.
CGG has released its monthly report for March 31, 2021, detailing its share capital and voting rights. The company holds a share capital of €7,113,942, with a total of 711,394,241 shares and 711,679,217 theoretical voting rights. This data is in compliance with Article 223-16 of the General Regulation of the French market authority. The registered office is located at 27 avenue Carnot, Massy, France. These figures provide insights into the company's share structure and governance.
CGG announced the issuance of $500 million in 8.75% Senior Secured Notes and €585 million in 7.75% Senior Secured Notes, both due in 2027. This issuance was a prerequisite for settling a tender offer for existing first lien senior secured notes due 2023, which expired on March 29, 2021. Additionally, CGG secured a $100 million Revolving Credit Facility linked partially to greenhouse gas emission targets. Proceeds will be used to settle various existing notes and cover associated costs.
CGG has secured three significant seismic imaging projects from BP, with two projects based in the deepwater Gulf of Mexico and one offshore Trinidad & Tobago. These projects are set to commence in Q1/Q2 of 2021, with data delivery expected by Q4 2021. Utilizing CGG Cloud technology, imaging specialists will apply advanced data-driven algorithms for enhanced imaging quality. Colin Murdoch, EVP of Geoscience at CGG, highlighted the importance of these awards, emphasizing the company's commitment to technology investments during challenging times.
CGG has priced a debt offering of US$500 million in 8.75% senior secured notes and €585 million in 7.75% senior secured notes, both due in 2027. The offering reflects strong market confidence and aims to streamline CGG's capital structure. The proceeds will be used to repurchase existing secured notes and pay associated fees. Additionally, CGG plans to enter a US$100 million Revolving Credit Facility, linked to greenhouse gas emission targets, to enhance financial flexibility.
CGG S.A. has launched an offering of senior secured notes due 2027, totaling approximately US$1.2 billion. The notes, guaranteed by certain subsidiaries, will be issued in both U.S. dollars and euros. CGG has also secured a US$100 million revolving credit facility linked to greenhouse gas emission targets. The net proceeds will be used to repurchase existing senior secured notes and discharge other secured notes. This Tender Offer is contingent on the successful completion of the offering.
CGG has registered its Universal Registration Document for the 2020 financial year with the French Market Authorities (AMF) as of March 5, 2021. This document, available to the public, includes key information such as the corporate governance report, auditors’ reports, details on the share buyback program, and the annual financial report. CGG is a global leader in geoscience technology, employing around 3,700 people and providing data and solutions for natural resource and infrastructure challenges.
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