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 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]

Financial Performance - TGS reported strong financial performance in Q1 2025, with the multi-client segment significantly exceeding expectations due to robust sales of vintage library data in frontier areas [1] - The sales-to-investment ratio over the past four quarters was above 2x (pro-forma), highlighting the attractiveness of the multi-client model and the benefits of having a large and diversified data library [1] - There was a significant year-on-year improvement in asset utilization, contributing to solid contract revenues [5] Market Outlook - Despite recent oil price weakness adding short-term uncertainty, the long-term outlook for the energy sector remains positive [2] - E&P companies are struggling to replace reserves at current spending levels, indicating a need for more exploration to maintain production [2] Financial Metrics - Multi-client investment for Q1 2025 was USD 130 million, supported by solid pre-commitments from clients [5] - Order inflow during Q1 2025 was USD 302 million, resulting in a total order backlog of USD 600 million [5] - Strong cash flow reduced net debt to USD 453 million from USD 500 million at the end of 2024 [5] - The company plans to pay a stable dividend of USD 0.155 per share in Q2 2025 [5] Guidance and Adjustments - Guidance for gross operating expenses and capital expenditures has been lowered to approximately USD 1,000 million and USD 135 million, respectively, due to increased macro uncertainty [5]

Company Overview - TGS ASA held its Annual General Meeting on 8 May 2025, where all proposed resolutions were approved by shareholders [1] - TGS provides advanced data and intelligence to companies in the energy sector, utilizing leading-edge technology and solutions across the entire energy value chain [1] - The company offers a comprehensive range of insights to assist clients in making informed decisions, supported by a global and diverse energy data library [1] Industry Context - TGS operates within the energy sector, focusing on exploration and production of energy resources worldwide [1] - The company’s products and advanced data technologies position it as a trusted partner for clients in the energy industry [1]

Core Points - TGS granted the third tranche of Performance Stock Units (PSUs) under the Magseis 2022 Long-term Incentive Plan, which was authorized by the Board of Directors in 2023 [1] - The third tranche of PSUs vested on April 1, 2025, allowing 51 PSU holders to request the issuance of TGS shares, with a final payout of 58.3% based on performance metrics, resulting in 15,721 shares issuable [2] - Primary Insider Carel Hooijkaas received 2,470 shares from his vested PSUs, after which he owns a total of 53,164 shares in TGS [3] - Following the transaction, TGS holds 153,517 of its own shares in treasury [4] Company Overview - TGS provides advanced data and intelligence to companies in the energy sector, offering a comprehensive range of insights to support exploration and production of energy resources worldwide [5]