Brief: PGS Expects 2024 Outlook Offshore Energy Investments To Increase In 2024

PGS ASA

08/05/2024 06:44

May 8 (Reuters) - PGS ASA  PGS.OL :
    * 2024 OUTLOOK: OFFSHORE ENERGY INVESTMENTS ARE EXPECTED TO
CONTINUE TO INCREASE IN 2024
    * 2024 OUTLOOK: PGS EXPECTS GROSS CASH COSTS IN 2024 TO BE
BELOW
$600 MILLION, IN LINE WITH PREVIOUS GUIDANCE
    * 2024 OUTLOOK: CAPITAL EXPENDITURES FOR 2024 IS EXPECTED TO
BE
APPROX. $125 MILLION, INCLUDING CAPEX TO EXPAND THE OFFSHORE
WIND ACTIVITIES, IN LINE WITH  PREVIOUS GUIDANCE
    * SAYS WE HAD STRONG REVENUES FROM OUR CONTRACT WORK IN Q1
AND
PROJECT PROFITABILITY WERE IN LINE WITH 2023 SUMMER SEASON
LEVELS
    * SAYS UTILIZATION  IMPROVED COMPARED TO Q4, BUT WE STILL
SUFFERED
FROM STANDBY TIME, REFLECTING A MUTED ACQUISITION MARKET DURING
THE WINTER

Source text for Eikon:  ID:nGNE9YCkZs 
Further company coverage:  PGS.OL 

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