Scandoil  

TGS issues guidlinees for 2016


Published Jan 8, 2016
TGS- logo

Based on a preliminary review of sales and investments, TGS provides the following update on Q4 2015:

The weak market conditions are expected to continue in 2016. Consequently, TGS is planning for a lower activity level, which results in the following guidance for 2016:

TGS expects multi-client investments of approximately 220 MUSD
Multi-client investments are expected to be prefunded 45 to 50%

As announced on 4 December 2015, the accounting practice with respect to amortization of the multi-client library will change with effect from 1 January 2016. In accordance with the new policy TGS estimates multi-client amortization of close to 290 MUSD in 2016. An expected impact of the new accounting practice will be more predictable and less volatile quarterly normal amortization of the data library.

Tags: TGS-NOPEC Geophysical Company




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml