EMGS Reports Multi-Client Sale (Scandinavian Oil-Gas Magazine)

EMGS Reports Multi-Client Sale

Published Dec 19, 2016

Electromagnetic Geoservices ASA (EMGS) has announced that the company has entered into new data licensing agreements providing a net revenue of approximately USD 2.0 million to EMGS.

USD 1.8 million of these revenues will be recognised in the fourth quarter of 2016, while the remaining USD 0.2 million is prefunding of planned MC data acquisition relevant for the 24th licensing round in the Barents Sea.

Christiaan Vermeijden, CEO of EMGS, is pleased that see interest in 3D CSEM data from the Barents Sea and encourages customers to take advantage of the vessel being active in the area in the spring of 2017.

Tags: Electromagnetic Geoservices ASA (EMGS)

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