EMGS: Fourth quarter results 2011
(Thomson Reuters ONE) -
Highlights in the fourth quarter 2011 include record-high financial results:
* Total revenues at USD 57.8 million for the quarter
* EBITDA of USD 16.7 million
* Net Income of USD 12.3 million
* Multi-client basalt mapping survey in Norwegian Sea pre-funded by ExxonMobil
* Successful start-up of USD 90 million Petrobras contract
* European Patent Office ruled in favour of EMGS at final appeal level
* EMGS and Schlumberger announced EM industry deal
* Letter of Intent from Shell for 3D EM survey in Brunei
Subsequent important events:
* EMGS and Schlumberger signed cooperative agreement
* EM Leader mobilized for operations in Q1 2012
* New Barents Sea multi-client 3D EM campaign launched
"We are proud to present our best ever quarterly and annual financial
performance, with revenues, EBITDA and Net Income at an all-time high," says
Roar Bekker, EMGS chief executive officer. "As we mark EMGS's 10th anniversary,
I would like to take the opportunity to thank the EMGS team, customers,
shareholders and suppliers for their commitment and support during our first
decade. Together, we have established a strong platform to further develop the
company and the EM market over the next decade."
The full fourth quarter report and presentation can be downloaded by clicking on
the links below.
Contact
Roar Bekker, EMGS chief executive officer +47 22 01 14 00
Svein Knudsen, EMGS chief financial officer +47 22 01 14 00
About EMGS
EMGS, the marine EM market leader, uses its proprietary electromagnetic (EM)
technology to support oil and gas companies in their search for offshore
hydrocarbons. EMGS supports each stage in the workflow, from survey design and
data acquisition to processing and interpretation. The company's services enable
integration of EM data with seismic and other geophysical and geological
information to give explorationists a clearer and more complete understanding of
the subsurface. This improves exploration efficiency, and reduces risks and the
finding costs per barrel.
EMGS has conducted more than 600 surveys to improve drilling success rates
across the world's mature and frontier offshore basins. The company operates on
a worldwide basis with main offices in Trondheim, Stavanger and Oslo, Norway;
Houston, USA; and Kuala Lumpur, Malaysia. Please visit www.emgs.com for more
information.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Fourth quarter presentation 2011:
http://hugin.info/137402/R/1583892/495408.pdf
Fourth quarter report 2011:
http://hugin.info/137402/R/1583892/495409.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: EMGS via Thomson Reuters ONE
[HUG#1583892]
Unternehmensinformation / Kurzprofil:
Datum: 09.02.2012 - 08:00 Uhr
Sprache: Deutsch
News-ID 112725
Anzahl Zeichen: 3535
contact information:
Town:
Trondheim
Kategorie:
Business News
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