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]

Core Insights - Viridien and TGS have launched the Megabar Extension Phase I survey in the Barreirinhas Basin, covering 5,300 sq km, aimed at enhancing geological understanding and exploration potential in the region [1][4] - The Barreirinhas Basin is noted for its proven petroleum systems and recent licensing activities by international oil companies (IOCs), indicating a growing interest in the area [2][5] - The survey will utilize TGS's advanced GeoStreamer technology aboard the Ramform Tethys vessel, with data acquisition set to begin in early September and conclude by late November [3] Company Insights - Viridien is a technology and Earth data company focused on providing innovative solutions for natural resource challenges, employing around 3,200 people globally and listed on Euronext Paris [6] - TGS is committed to delivering high-quality data for exploration in Brazil's equatorial margin basins, leveraging its expertise to support the energy industry [5] Industry Insights - The Megabar Extension Phase I survey is positioned in a promising area with no existing 3D data, which could lead to new exploration opportunities and improved prospect evaluation [3][4] - The project is expected to generate significant interest and value for clients, providing them with an early-mover advantage in the underexplored Barreirinhas Basin [5]

Core Insights - TGS, in collaboration with Viridien, has launched the Megabar Extension Phase I survey in the Barreirinhas Basin offshore Northern Brazil, covering an area of 5,300 sq km [1][2] - The survey aims to enhance geological understanding and support exploration activities in a region with proven petroleum systems and significant discoveries in nearby basins [2][4] Company Overview - TGS is a global leader in energy data and intelligence, providing advanced data and insights to support exploration and production in the energy sector [6] - The company utilizes cutting-edge technology, including proprietary GeoStreamer technology, to acquire high-quality 3D seismic data [3][5] Industry Context - The Barreirinhas Basin is gaining momentum due to recent licensing activities by international oil companies (IOCs) and the success of Brazil's 5 Cycle Permanent Concession Offer [2] - The Megabar Extension survey is positioned to provide early-mover advantages for explorers in this underexplored area, potentially leading to new exploration opportunities [5]

Core Insights - TGS has been awarded a significant streamer contract offshore Indonesia, covering approximately 10,000 square kilometers [1] - The project will primarily focus on acquiring 3D seismic data, with a final phase dedicated to 4D seismic data acquisition for production monitoring [2] - The survey is set to commence in Q4 2025 and will last for an estimated total duration of eight months [2] Company Overview - TGS is a leading provider of energy data and intelligence, offering advanced technology and solutions across the entire energy value chain [4] - The company utilizes proprietary GeoStreamer technology and purpose-built vessels to ensure high-quality data delivery and efficient acquisition [3] - TGS supports exploration and production of energy resources globally, backed by a comprehensive range of products and an extensive energy data library [4]

Core Points - TGS has awarded Performance Share Units (PSUs) and Restricted Share Units (RSUs) to 283 key employees, as approved by shareholders at the Annual General Meeting on 8 May 2025 [1][2] - The maximum number of new shares to be issued under the awarded PSUs and RSUs is 1,900,000 [4] Summary of PSUs - PSUs are granted to executive and senior leadership teams, vesting on 15 August 2028, contingent on continued employment [2] - Upon vesting, PSUs convert to shares based on performance against three metrics: Absolute Total Shareholder Return (TSR), Relative TSR, and HSE and Sustainability goals [2] - The number of shares issued upon vesting can range from 0% to 150% of the PSUs granted, determined by performance over a three-year period [2] Summary of RSUs - RSUs are granted to executives, senior leadership teams, and other key employees, also vesting on 15 August 2028, contingent on continued employment and satisfactory performance ratings [3] - Upon vesting, RSU holders will receive an equivalent number of TGS shares [3] Company Overview - TGS provides advanced data and intelligence to the energy sector, offering a comprehensive range of insights to support exploration and production of energy resources [4]

Core Insights - TGS ASA reported a financial update for Q2 2025, indicating a significant increase in revenues compared to Q2 2024, with IFRS revenues expected to be approximately USD 332 million, up from USD 224 million [1][4] - The company faced challenges in Q2 2025, including lower-than-expected data licensing, operational difficulties, and reduced participation from joint venture partners, which impacted revenue recognition [4] Revenue Breakdown - Produced revenues are projected to be around USD 306 million in Q2 2025, compared to USD 215 million in Q2 2024 [2][6] - Contract revenues for Q2 2025 are estimated at USD 171 million, an increase from USD 100 million in Q2 2024 [3] Multi-client Insights - Multi-client revenues are expected to reach approximately USD 135 million in Q2 2025, compared to USD 115 million in Q2 2024 [2] - Multi-client investment is anticipated to be around USD 120 million in Q2 2025, significantly higher than USD 52 million in Q2 2024 [2] Operational Metrics - The normalized Ocean Bottom Node (OBN) crew count for Q2 2025 was 1.7 for contracts and 1.1 for multi-client, compared to 2.7 and 0.0 respectively in Q2 2024 [1] - The allocation of active seismic streamer 3D vessel capacity showed a shift, with contract capacity increasing to 55% from 28% year-over-year [1] Future Outlook - CEO Kristian Johansen expressed optimism about future exploration activity, citing positive developments in Brazil and the US Gulf of America as drivers for increased seismic activity [4]