Financial Performance - TGS reported Q4 2025 revenues of USD 363 million, driven by strong multi-client performance with a sales-to-investment ratio of 2.0x for the full year 2025 [5] - The company achieved an order inflow of USD 598 million in Q4 2025, marking the best quarter since before the pandemic, and increased total order backlog to USD 706 million [5] - TGS generated a net cash flow before dividends of over USD 200 million and reduced net debt to USD 427 million by year-end, despite challenging market conditions [2][5] Strategic Insights - The Imaging division experienced a 65% growth in pro-forma external revenue for 2025, attributed to a sharpened strategic approach [1] - The company maintained a focus on cost and capital efficiency, leading to a substantial reduction in costs [2] - Management anticipates a sustained recovery in demand as the global oil market is expected to move toward a more balanced state in the latter part of 2026 [3] Future Guidance - For 2026, TGS plans to invest in multi-client projects in the range of USD 500-575 million, an increase from USD 447 million in 2025, supported by strong customer commitments [5] - The company expects significant increases in vessel utilization driven by high multi-client activity, with OBN activity anticipated to be in line with 2025 [5] - Gross operating costs are projected to be approximately USD 950 million, with capital expenditures expected to remain at similar levels as in 2025 [5]

OSLO, Norway (11 February 2026) – TGS, a global leader in energy data and intelligence, is pleased to announce the Ultra Profundo multi-client 2D survey offshore Angola. The survey covers approximately 12,600 line kilometers and Ramform Victory commenced operations earlier in Q1. Data acquisition is estimated to be completed in approximately 100 days, with fast-track products available in Q3. Full data processing is scheduled for completion in Q2 2027. The Ultra Profundo multi-client 2D survey marks the fir ...

Core Insights - TGS, in collaboration with SLB, has launched Engagement 9, a new phase of their Ocean Bottom Node (OBN) multi-client campaign in the Gulf of America [1][5] - Engagement 9 aims to improve subsurface illumination in the Walker Ridge protraction area, which is known for its structural complexity and hydrocarbon potential [2][3] - The project covers 161 OCS blocks and includes significant producing assets, enhancing imaging quality and supporting field development [2][3] Project Details - The acquisition phase of Engagement 9 is expected to conclude in July 2026, with final data products anticipated for release in the second half of 2027 [4] - The use of a low frequency source in the project is designed to enhance full waveform inversion (FWI) and long wavelength velocity model building [2][3] Strategic Importance - Engagement 9 is positioned to unlock infrastructure-led exploration opportunities, providing clients with greater subsurface confidence in a commercially successful region [3] - The project reflects TGS's commitment to technological innovation and delivering high-value subsurface insights to customers [5]

Company Overview - TGS Esports Inc. is a full-service marketing solutions provider specializing in engaging video game and esports fans, creating gaming strategies and marketing programs for brands [5] - Jeff Credit Ltd. is a professional lending institution licensed by the Hong Kong government for over a decade, providing credit services primarily in Hong Kong [6] Transaction Details - TGS Esports has signed a non-binding letter of intent (LOI) with Jeff Credit Ltd. for a proposed business combination and financing transaction, resulting in a reverse takeover [1][2] - The transaction will involve TGS Esports acquiring all issued and outstanding common shares of Jeff Credit, with a valuation of TGS at $100,000 and Jeff Credit at $8 million [4] - The resulting issuer will continue under the name Jeff Credit Ltd. or another acceptable name, with shares listed on the TSX Venture Exchange [3] Future Plans - Jeff Credit is evaluating the ESG-related market and plans to partner with providers of green taxis to offer credit services for drivers needing to lease new electric vehicles [8]

Core Viewpoint - TGS has secured an ocean bottom node (OBN) contract in Europe, which will enhance its data acquisition campaign for the 2026 season [1][2]. Group 1: Contract Details - The OBN contract has a duration of approximately 45 days, with acquisition activities set to begin in early April [1]. - The contract is aimed at optimizing resource extraction over a well-established producing field for a repeat customer [2]. Group 2: Company Insights - TGS is recognized as a leading provider of energy data and intelligence, offering advanced technology and solutions across the entire energy value chain [3]. - The company emphasizes its commitment to acquiring and delivering high-quality data, which supports clients in making informed decisions in the energy sector [2][3].

Core Insights - TGS has secured a 4D streamer acquisition contract in the North Sea, offshore Norway, with a survey scheduled to begin in Q2 2026 and expected to last approximately 65 days [1] Company Overview - TGS is a leading provider of energy data and intelligence, offering advanced data and technology solutions across the entire energy value chain [3] - The company utilizes proprietary GeoStreamer technology and Ramform-designed vessels to deliver high-quality data for optimizing oil and gas production [2] Contract Details - The contract is awarded to TGS by a repeat customer, indicating a strong relationship and trust in TGS's capabilities [2] - The survey will be conducted using a Ramform vessel, showcasing TGS's advanced technological capabilities in the energy sector [1][2]

Core Viewpoint - TGS, a leading global provider of energy data and intelligence, is set to release its Q4 2025 results on February 12, 2026, at 07:00 a.m. CET, with a public presentation following at 09:00 a.m. CET [1] Group 1 - The Q4 2025 earnings release and presentation will be accessible on TGS's official website and news platforms [2] - CEO Kristian Johansen and CFO Sven Børre Larsen will present the results at Thon Hotel Vika Atrium in Oslo, Norway [1] - The presentation will be webcasted live, allowing broader access for stakeholders [1] Group 2 - TGS specializes in providing advanced data and intelligence to the energy sector, supporting exploration and production activities [3] - The company utilizes cutting-edge technology and a diverse energy data library to assist clients in making informed decisions [3] - TGS is recognized as a trusted partner in the global energy market, offering a comprehensive range of insights across the energy value chain [3]

Core Viewpoint - The comparison between Transportadora De Gas Sa Ord B (TGS) and Williams Companies, Inc. (WMB) indicates that TGS is currently a more attractive option for value investors due to its stronger earnings outlook and better valuation metrics [1][3]. Group 1: Zacks Rank and Earnings Outlook - TGS has a Zacks Rank of 2 (Buy), while WMB has a Zacks Rank of 4 (Sell), suggesting that TGS is likely experiencing a more favorable earnings outlook [3]. - The Zacks Rank system emphasizes companies with positive earnings estimate revisions, which supports TGS's stronger position [3]. Group 2: Valuation Metrics - TGS has a forward P/E ratio of 12.55, significantly lower than WMB's forward P/E of 26.00, indicating that TGS may be undervalued relative to WMB [5]. - TGS's PEG ratio is 1.20, while WMB's PEG ratio is 1.40, further suggesting that TGS offers better value considering its expected earnings growth [5]. - TGS has a P/B ratio of 1.93 compared to WMB's P/B of 4.97, reinforcing TGS's superior valuation metrics [6]. - Based on these valuation figures, TGS has earned a Value grade of B, while WMB has a Value grade of D, highlighting TGS's stronger overall value proposition [6].

Core Insights - TGS has launched APEX 1, a pioneering multi-client long-offset Ocean Bottom Node (OBN) acquisition campaign in the Gulf of America, with node deployment starting in December 2025 and completion expected by late Q2 2026 [1] - APEX 1 sets a new standard for large-scale long-offset multi-client seismic by utilizing a denser node grid and functioning as a stand-alone exploration dataset, independent of streamer seismic coverage [2] - The project is supported by industry funding and aims to create a flexible, future-proof exploration dataset that can be utilized in various geological contexts, enhancing exploration capabilities not only in the Gulf of America but also in other offshore basins globally [4] Technical Advancements - APEX 1 is powered by TGS' Gemini™ enhanced frequency source and incorporates advanced techniques such as Dynamic Matching FWI (DM-FWI), which together improve subsurface resolution, velocity accuracy, and geological confidence [3] - The combination of dense node spacing and ultra-long offsets is designed to significantly enhance imaging workflows, providing a step-change in data quality for exploration and appraisal [3] Company Vision - TGS emphasizes its commitment to innovation in multi-client seismic technology, with APEX 1 reflecting the company's collaborative efforts across various teams to meet customer needs with high-impact solutions [5] - The initiative underscores TGS' dedication to delivering exceptional value and reinforcing its position as a leader in seismic technology, particularly in a market where efficiency and data quality are critical [5]

Core Viewpoint - TGS ASA has reported significant changes in its operational metrics for Q4 2025, indicating a shift in its seismic vessel utilization and multi-client investment, which reflects a strong market position and operational efficiency [1][3]. Operational Metrics - The normalized Ocean Bottom Node (OBN) crew count for Q4 2025 was 0.7 for contracts and 1.0 for multi-client projects, compared to 3.5 and 0.0 respectively in Q4 2024 [1]. - The allocation of active seismic streamer 3D vessel capacity showed a decrease in contract work from 35% in Q4 2024 to 31% in Q4 2025, while multi-client work increased from 31% to 48% [2]. Financial Overview - TGS expects multi-client investment to reach approximately USD 120 million in Q4 2025, up from USD 100.4 million in Q4 2024 [2]. - The company reported a seismic vessel utilization rate of 79% in Q4 2025, an increase from 73% in the previous quarter [3]. - TGS has reduced its net interest-bearing debt to approximately USD 430 million, indicating a stronger balance sheet [3]. Future Outlook - The company has established a portfolio of multi-client projects offshore Brazil, with plans to maintain half of its streamer fleet in the region into 2026 [3]. - TGS will release its Q4 2025 results on February 12, 2026, with a live presentation by the CEO and CFO [3].