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CGG - CGG STOCK NEWS

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.

News

CGG and Trinidad-Tobago Sign Multi-Client Reimaging Program Agreement

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CGG has signed an agreement with the Ministry of Energy and Energy Industries of Trinidad and Tobago to reimage vintage 3D seismic data from offshore blocks. The project has received firm industry commitments and will deliver early products in late February 2024. CGG has committed to reimaging over 5500 km2 of 3D seismic data in the complex eastern Columbus Basin using its proprietary TL-FWI imaging technology.
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Sercel Unveils New 528 and VE564 Solutions to Optimize Mega-Crew Surveys

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CGG's Sercel has launched the next-generation 528TM land acquisition system and VE564TM vibrator electronics to improve recording capacity, reliability, productivity, and data fidelity. The 528 is the most advanced cable-based system available, with enhancements such as the lightest weight and lowest power consumption, allowing it to be solar-powered. The VE564 vibroseis electronics technology can be embedded within the 528 platform and easily reconfigured for efficient operations with the WiNGNT wireless system. CEO Sophie Zurquiyah stated that the solutions provide unparalleled operational gains, resulting in increased productivity, cost reduction, and successful land seismic projects.
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CGG Provides Q4 & Full Year 2023 Financial Update

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CGG anticipates Q4 2023 segment revenue at around $316 million, slightly down (1)% year-on-year. Full year 2023 segment revenue is expected to be around $1.12 billion, up 21%, with a positive net cash flow of around $30 million despite penalty fees. The company's cash balance at year-end 2023 is around $325 million, with expectations for improved 2024 performance and significant cash generation in 2025-2026.
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CGG and C-Questra Sign CCUS Cooperation Agreement

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CGG (CGG), a global technology and HPC leader, and C-Questra have signed a commercial cooperation agreement in carbon capture, utilization, and sequestration (CCUS). CGG brings over 15 years of experience and unique industrial know-how in supporting CCUS projects worldwide. C-Questra, a European technology company founded in 2023, specializes in CCUS from emission sources to sequestration sites. The cooperation aims to accelerate the development of carbon storage projects, particularly in France.
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CGG: Information on the total number of voting rights and shares

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CGG, a French company with a share capital of €7,136,762 and registered office at 27 avenue Carnot, 91300 Massy, France, has reported the total number of voting rights and shares as of December 31, 2023. The total number of issued shares is 713,676,258, with 715,887,284 actual voting rights and 715,912,280 theoretical voting rights. It's important to note that all of the company shares have the same voting rights, except for treasury shares which do not have voting rights and registered shares held for more than two years, which have double voting rights.
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CGG: Information on the total number of voting rights and shares

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CGG, a French company with a share capital of €7,136,762 and ticker symbol CGG, has disclosed information on the total number of voting rights and shares. As of November 30, 2023, the total number of issued shares is 713,676,258, with 715,889,547 actual voting rights and 715,914,543 theoretical voting rights.
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CGG Sells its Stake in ARGAS to TAQA  

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CGG (CGG) has entered into a definitive agreement with TAQA to sell its entire 49% stake in Arabian Geophysical and Surveying Company. The transaction is expected to close this year, subject to satisfying relevant conditions. The sale marks a final step in the strategic plan to become an asset-light company, by exiting the data acquisition services business and strengthening the focus on high-end technology businesses. CEO Sophie Zurquiyah looks forward to continuing to provide the Kingdom of Saudi Arabia and TAQA with high-end subsurface imaging and seismic acquisition systems to support their business objectives and playing a part in the successful development of energy and low-carbon resources in the Middle East region.
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CGG to Acquire 8,000 km of Multi-Client Data Offshore Malaysia

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CGG - PETRONAS announces the start of the Selat Melaka 2D multi-client seismic program over the Langkasuka Basin offshore Malaysia. The project, located in the Malacca Strait, has received industry funding and will provide early products in December 2023 and final results in August 2024. CGG's latest proprietary full-waveform inversion (FWI) and Q-tomography imaging technologies will offer a better regional understanding of the underexplored basin, focusing on the prospective pre-tertiary target.
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CGG and Eclairion Join Forces to Meet Growing Demand for Sustainable HPC in the EU

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CGG - CGG and Eclairion announce collaboration to establish energy-efficient infrastructure for high-power density servers. The collaboration aims to create a highly optimized industrial HPC and AI cloud environment with 100% renewable energy and immersion cooling expertise, reducing environmental footprint and meeting the demands of the HPC cloud market while prioritizing sustainability and optimized performance.
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CGG Launches Outcome-as-a-Service Offering for HPC and AI Solutions  

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CGG - CGG Announces Launch of Outcome-as-a-Service (OaaS) Offering for HPC and AI Solutions. The new OaaS offering provides customized, cost-effective HPC and AI solutions for scientific and engineering domains, removing the need for significant CAPEX and unpredictable usage-based billing. It leverages the latest compute technology and a novel commercial model to deliver industrialized HPC solutions for AI, simulation, and modelling. Agnès Boudot, EVP, HPC & Cloud Solutions, CGG, emphasizes the goal of helping high-tech industries optimize their workflows and meet business objectives cost-effectively.
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FAQ

What does CGG specialize in?

CGG specializes in Earth science, data science, and sensing and monitoring, providing advanced technology solutions and high-performance computing services.

Where is CGG headquartered?

CGG is headquartered in Paris, France.

What is Sercel's 528™ system?

Sercel's 528™ system is an advanced cable-based land acquisition system designed for 3D seismic surveys, known for its lightweight and low power consumption.

Who recently purchased the 528™ system?

The Turkish Petroleum International Corporation (TPIC) recently purchased the 528™ system for a 3D seismic survey in Turkey.

How many employees does CGG have?

CGG employs approximately 3,400 people worldwide.

On which stock exchange is CGG listed?

CGG is listed on the Euronext Paris SA (ISIN: 0013181864).

What kind of challenges does CGG help its clients address?

CGG helps its clients address challenges related to digital transformation, energy transition, natural resource management, environmental sustainability, and infrastructure development.

What recent financial performance has CGG reported?

CGG reported substantial progress in the first-quarter 2024 segment financial results, showcasing the company’s strategic investments and operational efficiency.

When is the 3D seismic survey using the 528™ system expected to start?

The 3D seismic survey using the 528™ system is expected to start in Q3 2024.

Where can more information about CGG's offerings be found?

For more information about CGG’s offerings, visit their official website at www.cgg.com.
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