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.
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.