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.
The CGG news page on Stock Titan aggregates recent public communications that are issued under the Viridien name. These items present Viridien as an advanced technology, digital and Earth data company and provide insight into its financial performance, governance decisions, capital structure and major Earth data projects. Readers can use this page to review how the group describes its activities across natural resources, digital, energy transition and infrastructure-related challenges.
News items include detailed financial updates, such as quarterly and full-year segment revenue, segment EBITDAs, net cash flow and net debt figures, as well as commentary on the company’s asset-light strategy and deleveraging efforts. Viridien also publishes announcements about bond redemptions, new loans and liquidity, giving context on how it manages its balance sheet and financing costs.
Operational news highlights multi-client seismic and Earth data projects. Examples include the Megabar Extension Phase I multi-client 3D seismic survey in the Barreirinhas Basin offshore Brazil and a seismic reimaging program over offshore block 22 in Angola. These releases describe the scope of the surveys, the use of proprietary subsurface imaging technologies and the intended benefits for exploration and licensing activities.
Governance and regulatory news covers decisions by the Board of Directors, such as the separation of the roles of Chair and Chief Executive Officer, and monthly disclosures on the total number of issued shares and voting rights in accordance with French market regulations. By following this news feed, users can track how Viridien presents its strategic direction, financial trajectory and key Earth data initiatives over time.
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.
CGG is set to announce its fourth quarter 2020 results on March 5, 2021, before the Paris stock exchange opens. The press release and slide presentation will be accessible on its website at 7:00 am, followed by an English language conference call at 8:00 am (Paris time). Interested parties can join the audio webcast through CGG's website, and a replay will be available the next day for 12 months. As a global leader in geoscience technology, CGG employs around 3,700 people and offers solutions for natural resource and infrastructure challenges.
CGG has released its monthly update, detailing the number of shares and voting rights as of January 31, 2021. The company reported a total of 711,393,125 shares outstanding and 711,644,442 theoretical voting rights. This information complies with Article 223-16 of the General Regulation of the French market authority. The transparent disclosure of share capital details is crucial for investors and stakeholders to understand the voting power within the company.
CGG challenges attempts to destabilize its safeguard plan. The company denies initiating a publication concerning general meetings of holders of convertible bonds, which was instead done by former representative Jean Gatty. CGG asserts that these bonds have been fully repaid by conversion into shares, rendering the meetings invalid. Furthermore, Gatty has filed appeals against the safeguard plan, but CGG contests his claims. The company plans legal action against these destabilization attempts, including a complaint for slander.
CGG has completed a global geothermal resource study for a major energy client, highlighting the potential for geothermal energy in electricity generation and heating. The study leverages CGG's extensive experience in sedimentary basins and data analytics, resulting in a database of over 700,000 subsurface temperature data points. This initiative underscores the increasing interest in geothermal energy as a reliable baseload power source to complement renewable energy sources like solar and wind. The project aligns with CGG's commitment to facilitating the energy transition towards lower carbon solutions.
CGG has launched a new seismic data reimaging program in the Walker Ridge area of the Gulf of Mexico, covering approximately 300 OCS blocks. This initiative aims to enhance subsurface imaging using advanced technologies. Strong prefunding from industry clients supports the program, which includes Walker Ridge Wide-Azimuth and StagSeis DEUX surveys. Preliminary results indicate improved imaging of difficult geological formations. Final data products are anticipated between February and May 2021, with full results expected by the end of 2021.
CGG Geoscience's Smart Data Solutions (SDS) business has secured data management contracts totaling approximately $10 million. A notable contract involves a global framework agreement with a major international energy company focused on digitizing its legacy data and providing multi-year storage solutions. CGG's expertise ensures safe data management and supports enhanced decision-making for its clients' digitalization initiatives. CEO Sophie Zurquiyah highlighted the importance of leveraging legacy data within exploration and technological advancements.
CGG reported its monthly update on shares and voting rights as of September 30, 2020. The total number of shares stands at 711,324,363, while the number of theoretical voting rights is 711,560,353. This information complies with Article 223-16 of the General Regulation of the French market authority.
Summary not available.
Summary not available.