Third quarter results 2010
(Thomson Reuters ONE) -
Highlights in the third quarter 2010:
* Total revenues at USD 22.8 million
* EBITDA gain of USD 6.5 million
* USD 150 million PEMEX-contract signed
* Several contracts awarded in Asia
* Barents Sea multi-client sales of USD 4.6 million
* Launch of EDDA, a joint industry 3D EM project
* Completed USD 20 million bond offering
* EMGS won patent dispute launched by Schlumberger
Subsequent important events:
* Shetland-survey awarded by TOTAL and DONG
* Shallow water survey awarded in Malaysia
* Surveys offshore Brunei and Philippines awarded by Shell
Roar Bekker, EMGS chief executive officer, commented: "We are pleased to report
an improvement in our financial results for the fourth consecutive quarter. EMGS
has put a lot of energy into developing the EM market and it is rewarding to see
that this has resulted in record-high vessel utilisation and contract backlog.
We have now established a solid platform from which EMGS can further develop the
EM market."
The full third quarter report and presentation can be downloaded by clicking on
the links below.
Contacts
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 500 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 and Stavanger, Norway; Houston,
USA; and Kuala Lumpur, Malaysia. Please visit www.emgs.com for more information.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1463624]
Third quarter report 2010:
http://hugin.info/137402/R/1463624/402340.pdf
Third quarter presentation :
http://hugin.info/137402/R/1463624/402341.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
Unternehmensinformation / Kurzprofil:
Datum: 18.11.2010 - 08:01 Uhr
Sprache: Deutsch
News-ID 48890
Anzahl Zeichen: 3293
contact information:
Town:
Trondheim
Kategorie:
Business News
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"Third quarter results 2010"
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