Brief: PGS Expects Global Energy Consumption To Keep Rising

PGS ASA

27/04/2023 07:22

April 27 (Reuters) - PGS ASA  PGS.OL :
    * Q1 RESULTS: STRONG ACQUISITION REVENUES IN A RECOVERING
SEISMIC
MARKET
    * INCREASE IN PRODUCED REVENUES WAS DRIVEN BY HIGHER
CONTRACT
REVENUES, STRONG PRE-FUNDING FOR ONGOING MULTICLIENT ACQUISITION
PROJECTS
    * EXPECTS GLOBAL ENERGY CONSUMPTION TO CONTINUE TO INCREASE
OVER
LONGER TERM WITH OIL AND GAS REMAINING IMPORTANT PART OF ENERGY
MIX
    * 2023 OUTLOOK: SEES GROSS CASH COSTS TO BE ABOUT $550
MILLION
    * 2023 OUTLOOK: SEES MULTICLIENT CASH INVESTMENTS TO BE
ABOUT $160
MILLION
    * OUTLOOK 2023: ABPUT 60% OF 2023 ACTIVE 3D VESSEL TIME IS
EXPECTED TO BE ALLOCATED TO CONTRACT WORK
    * 2023 OUTLOOK: SEES CAPITAL EXPENDITURES TO BE ABOUT $100
MILLION

Source text: https://mfn.se/one/a/pgs/pgs-asa-first-quarter-2023-results-ff4b2b0b
Further company coverage:  PGS.OL 

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