Core Insights - TGS has launched a new multi-client 2D-cubed seismic project in the offshore Andaman region of India, utilizing 2D-cubed technology to convert 2D seismic data into a 3D volume for enhanced geological analysis [1][3] Project Overview - The project spans 640,000 km² and targets both shallow and deep-water siliciclastic sediment basins in the Andaman-Nicobar area, covering four blocks from the OALP-X bid round [2] - Recent gas discoveries offshore Andaman Island and ongoing deep-water drilling have heightened interest in the region, prompting this initiative [2] Strategic Importance - The India Andaman 2D-cubed project enhances TGS's regional multi-client coverage and enriches its existing data library for India, providing operators with improved subsurface information for exploration assessments [3] - TGS aims to support operators in accelerating decision-making in a promising frontier basin, as stated by the company's multi-client executive vice-president [4] Market Context - With hydrocarbon demand growing at approximately 3% annually, India's economic growth necessitates continued investment in exploration, making this dataset crucial for companies assessing new opportunities [5] - TGS combines extensive subsurface knowledge and imaging tools to offer operators new opportunities for improved drilling outcomes [5]

Core Insights - TGS has secured a five-year extension of contracts for Permanent Reservoir Monitoring (PRM) and 4D Ocean Bottom Node (OBN) surveys with a major international energy company, lasting until 2030 with options for an additional five years [1][2] Company Overview - TGS is a leading provider of energy data and intelligence, offering advanced technology and solutions across the entire energy value chain, which supports exploration and production of energy resources globally [3] CEO Commentary - The CEO of TGS expressed satisfaction with the contract renewal, highlighting that it ensures continuity in PRM and source business, and emphasizes the high quality and cost-effectiveness of their seismic services [2]

Core Insights - TGS has announced the Pelotas Norte Phase I multi-client 3D survey in the Pelotas Basin, covering approximately 14,800 square kilometers across 21 exploration blocks, primarily in un-held acreage expected to be included in upcoming bid rounds [1][3] Project Details - A Ramform Titan-class vessel will mobilize for the survey later in Q4 2025, with the project expected to run into Q3 2026, utilizing TGS GeoStreamer technology for high-resolution 3D seismic data [2] - The Pelotas Basin is characterized by early basin carbonates and passive margin clastic sequences, with three organic-rich intervals from Albian, Turonian, and Paleocene ages, attracting significant industry interest due to geological similarities with West Africa [3] Industry Context - CEO Kristian Johansen highlighted the acceleration of exploration activity in the Pelotas Norte Basin, with major oil companies increasing their presence, and emphasized that the survey will enhance seismic coverage and assist clients in understanding geological structures [4] - The addition of Pelotas Norte Phase I brings the total number of Ramform Titan-class vessels operating offshore Brazil to three for the remainder of 2025 and into 2026 [4]

Core Insights - TGS has announced the Roosevelt 3D seismic onshore survey in the Uinta Basin, marking its first multi-client project in the region and a significant advancement in exploration efforts in North America [1][2] Company Developments - The Roosevelt 3D survey is a pivotal milestone for TGS's expansion into the Uinta Basin, utilizing advanced subsurface imaging technologies to deliver high-resolution data that enhances geological modeling and supports informed reservoir exploration [2] - The survey targets key geological formations including the Green River, Wasatch, and Mesaverde formations, employing advanced processing techniques such as AVO & Phase Compliant processing flow, Ray Based Image Correction & Optimization (RICO), and Dynamic Matching diving wave and reflection FWI [2] - The survey will cover 667 wells and includes 459 LAS logs and 2,649 rasters, providing a comprehensive dataset for reservoir modeling and decision-making [2] Future Plans - The flexible design of the survey allows for adaptation to the evolving needs of the industry, with plans to integrate depth imaging capabilities in future phases [3] - Receiver tails have been implemented for continuous data acquisition, ensuring long-term adaptability for future exploration and development projects in the region [3] Timeline - Recording for the Roosevelt 3D survey is set to begin in late Q4 2025, with final acquisition expected to conclude in fall 2026, and preliminary data will be available during 2026 [4]

Core Insights - TGS reported solid financial results for Q3 2025 despite macroeconomic uncertainty and volatile oil prices, with contract revenues exceeding initial expectations due to strong library sales and higher asset utilization [1][2] - The company experienced a significant reduction in net debt, enhancing financial resilience and dividend capacity, while maintaining a cautious outlook due to low oil prices impacting E&P companies [2] Financial Performance - Q3 2025 revenues reached USD 388 million, reflecting a 26% sequential growth from the previous quarter [5] - The multi-client segment demonstrated solid performance with a sales-to-investment ratio of 1.9x year-to-date [5] - Order inflow during Q3 2025 amounted to USD 436 million, resulting in a total order backlog of USD 473 million [5] Cash Flow and Debt Management - Strong cash flow allowed TGS to reduce net debt to USD 432 million, down from USD 479 million at the end of Q2 2025 [5] - The company maintains a solid balance sheet, enabling a stable dividend payment of USD 0.155 per share scheduled for Q4 2025 [5] Capital Expenditure - TGS has revised its capex guidance for 2025 down to USD 110 million from the previous estimate of USD 135 million, reflecting continued scrutiny of cash outflow [5]

Core Insights - TGS has secured an OBN acquisition contract in the Gulf of America, with a 4D monitor survey set to begin in Q4 2025 and lasting approximately 4.5 months [1][2] Company Overview - TGS is a leading provider of energy data and intelligence, offering advanced technology and solutions across the entire energy value chain [3] - The company has a diverse energy data library and aims to support clients in making informed decisions regarding energy resource exploration and production [3] Market Position - The Gulf of America is identified as a core market for TGS's OBN business, highlighting the importance of this region for the company's operations [2] - The contract is with a repeat IOC customer, indicating a strong relationship and trust in TGS's capabilities [2]

Core Insights - TGS has secured a streamer acquisition contract in Africa, set to commence in Q4 2025 and lasting approximately 50 days [1][2]. Company Overview - TGS is a leading provider of energy data and intelligence, offering advanced technology and solutions across the entire energy value chain [3]. - The company utilizes the Ramform acquisition platform and proprietary GeoStreamer technology to ensure high data quality for clients [2][3]. - TGS maintains a comprehensive energy data library, making it a trusted partner for exploration and production in the energy sector [3].

Core Insights - TGS ASA reported a significant increase in asset utilization for Q3 2025, with a normalized Ocean Bottom Node (OBN) crew count of 2.8 and streamer vessel utilization at 73%, surpassing previous expectations of 2.5 and 65% respectively [2] Group 1: Operational Performance - The normalized OBN crew count for TGS in Q3 2025 was 1.8 for contracts and 1.0 for multi-client projects, compared to 3.8 and 0.0 in Q3 2024 [1] - The allocation of active seismic streamer 3D vessel capacity showed a notable increase in contract utilization to 45% in Q3 2025 from 20% in Q3 2024, while multi-client utilization decreased to 28% from 57% [1] - TGS maintained a consistent number of vessels at 6 for both Q3 2025 and Q3 2024 [1] Group 2: Financial Expectations - TGS anticipates a multi-client investment of approximately USD 86 million in Q3 2025, a decrease from USD 129.4 million in Q3 2024 [1] - The company will release its Q3 2025 results on 23 October 2025, with a presentation by CEO Kristian Johansen and CFO Sven Børre Larsen [2]

Core Insights - TGS has launched a new multi-client Ultra-Long Offset Ocean Bottom Node (OBN) data acquisition campaign named Amendment West-1 in the Gulf of America, expanding its coverage in the Paleogene West play by over 5,400 square kilometers [1][3] Group 1: Project Details - The Amendment West-1 survey utilizes TGS' Gemini™ enhanced frequency source and ZXPLRe™ nodes, designed for deep penetration and improved imaging while maintaining high-frequency content [2] - The dataset from Amendment West-1 will enhance subsurface clarity in the East Breaks area, which is expected to be competitive in future lease rounds, particularly for operators focused on the Paleogene play [3] - Data acquisition for the project began in mid-September 2025 and is expected to conclude by mid-March 2026, with initial product delivery scheduled for Q2 2026 [4] Group 2: Company Commitment and Technology - TGS is committed to providing high-quality seismic acquisition and imaging solutions, with the Amendment West-1 survey being a key initiative to support Paleogene exploration targets [5] - The project leverages advanced seismic source and imaging technologies, including Elastic Full-Waveform Inversion (E-FWI) and Reverse Time Migration (RTM), to deliver superior seismic data for exploration and development [3][5] Group 3: Industry Context - The Paleogene play has gained momentum due to recent technological breakthroughs in production, making it an attractive area for exploration [3] - TGS' recent advancements in processing have garnered significant industry attention, reinforcing its position as a leader in advanced imaging capabilities [5]

Core Insights - TGS has announced the PAMA Phase II 3D multi-client survey in the Equatorial Margin area offshore Brazil, expanding its coverage significantly in a highly prospective basin [1][2][4] - The survey will cover an additional 11,500 square kilometers, including blocks nominated for upcoming license rounds in 2026 and 2027 [2] - The project is supported by industry funding and utilizes advanced TGS GeoStreamer technology for high-quality data acquisition [2][4] Industry Context - The Pará-Maranhao Basin is recognized for its functioning deepwater petroleum system, attracting interest due to discoveries in neighboring countries like Guyana and Suriname [3] - TGS aims to leverage its advanced acquisition capabilities to provide substantial value for clients' exploration activities in the basin [4] - The ongoing Megabar extension multi-client project in the Barreirinhas Basin will see two Ramform Titan-class vessels active in the Equatorial Margin through the remainder of 2025 [4]