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 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.
CGG announced its Q4 and full year 2020 results, showcasing a challenging year impacted by the oil & gas market collapse. For Q4, revenue was $217 million, with a segment EBITDAs margin of 43%. Full year revenue totaled $886 million, down 35% YoY. Despite a net loss of $100 million in Q4 and $438 million for the year, the company expects a recovery in 2021 with positive net cash flow. Segment backlog as of January 1, 2021, stands at $421 million. CGG aims for carbon neutrality by 2050, highlighting its ongoing investments in geoscience technologies.
CGG reported its monthly share capital update as of February 28, 2021. The company has a share capital of €7,113,935, with a total of 711,393,503 shares outstanding. The number of theoretical voting rights stands at 711,645,969, indicating a minor difference in the voting rights due to share issuance or treasury shares. This information complies with Article 223-16 of the General Regulation of the French market authority.
