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EMGS reports multi-client revenue
Electromagnetic Geoservices ASA (“EMGS” or the “Company”) has entered into a late-sales multi-client licensing agreement related to its multi-client library in Norway. The net revenue to EMGS under the agreement is approximately USD 1.7 million.
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Vessel update and activity for the first quarter 2020
Electromagnetic Geoservices ASA (the “Company” or “EMGS”) releases information on vessel activity and utilisation 4-5 working days after the close of each quarter. The Company defines vessel utilisation as the percentage of the vessel charter period spent on proprietary or multi-client data acquisition. Downtime (technical or maritime), mobilisation, steaming, and some standby activities are not included in the utilisation rate.
