Newsroom

CGG GeoSoftware has launched a new version of InsightEarth®, its software suite which accelerates 3D visualization and interpretation. High-impact improvements in structural and stratigraphic interpretation capabilities enable oil and gas company interpretation teams to deliver more accurate interpretations with fewer people in less time. They can now generate powerful outcomes quickly with much faster workflows to re-work legacy datasets for missed opportunities.

CGG congratulates ARGAS, its geophysical services joint venture with TAQA in the Middle East, on its 50th anniversary. Since its creation in January 1966, ARGAS has consistently delivered geophysical innovation and superior technical performance, expanding its business scope from the Kingdom of Saudi Arabia to the whole Arabian Peninsula and Egypt.

In a very difficult market environment, CGG has delivered a satisfactory level of EBITDAs in the fourth quarter of 2015, due to the strong performance of its multi-client library and the resilience of its Equipment segment...

The amendment of IAS 38 intangible assets leads CGG to adapt its multi-client library amortization pattern. Each survey will be fully amortized over a five-year period based on the following principles...

On March 2, 2016, CGG received notice from the New York Stock Exchange, Inc. (NYSE) that it is no longer in compliance with the NYSE’s continued listing standards...

On November 16th, following the announcement by CGG of a next step of its Group’s Transformation, S&P downgraded CGG’s corporate rating to CCC+ with a Negative Outlook reflecting the rating agency’s view that the Company could notably face liquidity issue in the first half of 2016, breach its covenants, be unable to repay its 2017-2018 debt installments and be unable to benefit from the cash injection needed to finance its Transformation Plan.

CGG announced today the successful large-scale deployment of Sercel’s new-generation 508XT land seismic acquisition system on a high-productivity super crew conducting a seismic survey in Saudi Arabia.

CGG has announced that it will commence a multi-client airborne gravity and magnetic survey offshore Mexico. The Comisión Nacional de Hidrocarburos (CNH) has authorized the program, which will include the acquisition of approximately 200,000 line kilometers over six areas across the Mexican Gulf of Mexico.

CGG announced today that it has been awarded an extension to a major 3D seismic survey it successfully completed on the Caribbean coast offshore Colombia in late 2015.