Brief: PGS Preliminary Q3 Revenues And Other Income Of $199 Mln

PGS ASA

11/10/2022 07:05

Oct 11 (Reuters) - PGS ASA  PGS.OL :
    * REG-PGS ASA: Q3 2022 UPDATE
    * BASED ON A PRELIMINARY REVIEW, PGS EXPECTS TO REPORT
REVENUES
AND OTHER INCOME ACCORDING TO IFRS* FOR Q3 2022 OF APPROXIMATELY
$199 MILLION, COMPARED TO $141.7 MILLION IN Q3 2021
    * CONTRACT REVENUES ENDED AT APPROXIMATELY $101 MILLION IN
Q3
2022, COMPARED TO $66.4 MILLION IN Q3 2021
    * MULTICLIENT LATE SALES REVENUES WERE APPROXIMATELY $72
MILLION
IN Q3 2022, COMPARED TO $24.8 MILLION IN Q3 2021
    * MULTICLIENT PRE-FUNDING REVENUES BASED ON IFRS WERE
APPROXIMATELY $20 MILLION IN Q3 2022, COMPARED TO $45.3 MILLION
IN Q3 2021
    * Q3 2022 REVENUES WERE APPROXIMATELY $10 MILLION LOWER THAN
ESTIMATE GIVEN IN CONNECTION WITH Q2 2022 EARNINGS RELEASE DUE
TO POSTPONED COMPLETION OF PROCESSING FOR ONE SURVEY WHERE
PROCESSING IS DONE BY A THIRD PARTY
    * ESTIMATED PRODUCTION OF MULTICLIENT PRE-FUNDING ORDER BOOK
(ON A
PERCENTAGE-OF-COMPLETION BASIS) IN Q3 2022 WAS $37 MILLION
COMPARED TO $35.3 MILLION IN Q3 2021*

Source text for Eikon:  ID:nGNE1KCsrX 
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