TGS gains on revenue beat, capex cut
09/05/2025 09:05
** Shares in TGS TGS.OL are up around 4% after the Norwegian oil service group's Q1 produced revenues beat expectations ** The company plans to lower its gross operating expenses and capex spend by around 5% and 10%, responding to economic uncertainties and sliding oil prices ** Fearnley Securities describes the move as positive, "proactive" reaction ** TGS keeps its guidance for multi-client investments but it expects lower industry ocean bottom node revenue compared to 2024 (Reporting by Anna Chaberska) ((Anna.chaberska@thomsonreuters.com;))
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