TGS Q4 2024 Operational Update

Core Insights - TGS reported strong utilization of Ocean Bottom Node (OBN) crews in Q4 2024, primarily focused on acquiring 4D production data in the US Gulf of Mexico [2] - The company anticipates organic multi-client investment for Q4 2024 to be around USD 100 million, reflecting project delays impacting investment and vessel utilization [1][2] - TGS announced four significant streamer contract awards in Q4 2024, which are expected to enhance visibility and vessel utilization for the first half of 2025 [2] Operational Metrics - The normalized OBN crew count for TGS in Q4 2024 was 3.5, showing an increase from 2.3 in Q4 2022 [1] - The allocation of active seismic 3D vessel capacity in Q4 2024 was as follows: 35% for contract, 31% for multi-client, 6% for steaming, 6% for yard, and 22% for stacked/standby [1] - The number of vessels remained consistent at 6 throughout 2024, with a peak of 7 vessels in Q3 2023 [1] Upcoming Events - TGS will release its Q4 2024 results on February 20, 2025, at 07:00 a.m. CET, followed by a live presentation at 09:00 a.m. CET [2]