News
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EMGS – Vessel update and activity for the fourth quarter 2017
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.
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EMGS reports multi-client late sales and revenues related to existing multi-client licenses
Electromagnetic Geoservices ASA (the "Company" or "EMGS") has entered into an agreement with one of its clients related to the client's licenses to CSEM data from EMGS' multi-client library in Norway. The agreement covers the client's merger with another entity and the merger fees payable as a result of this, as well as an upfront settlement of all uplifts which would otherwise be payable to EMGS from that client as a result of license awards in APA17 and the 24th licensing round in Norway.
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EMGS reports third quarter 2017 results
Electromagnetic Geoservices ASA (EMGS) recorded revenues of USD 10.0 million in the third quarter 2017, up from USD 4.5 million in the third quarter 2016 and down from USD 10.6 million in the second quarter 2017.
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EMGS will present its results for the third quarter of 2017 on Thursday 2 November
Link to Webcast
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EMGS prepares for multi-client survey west of Newfoundland, Canada
Electromagnetic Geoservices ASA and its wholly owned subsidiary Electromagnetic Geoservices Canada Inc. (together, "EMGS") have initiated preparations for carrying out a pre-funded multi-client survey west of Newfoundland, Canada. The survey represents a minimum level of revenues to EMGS of approx. USD 2.5 million.
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EMGS – Vessel update and activity for the third quarter 2017
Electromagnetic Geoservices ASA (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 contracted or multi-client data acquisition. Downtime (technical or maritime) and some standby activities are not included in the utilisation.