CGG GeoSoftware has released VelPro™ 9.5, an industry-leading velocity modeling and depth conversion commercial software technology used by interpreters and velocity modeling experts to seamlessly integrate seismic and well velocity information, horizons, faults, and well tops into robust and data-driven velocity models.
CGG announced today that its Document de Référence and report on Form 20-F for 2015 were filed with the Autorité des Marchés Financiers (AMF) and the SEC on April 15, 2016 respectively.
CGG GeoConsulting announced that its NPA Satellite Mapping group has been awarded a contract to lead the ‘Live Land’ demonstration project, sponsored by the European Space Agency (ESA) within the “Integrated Applications Program (IAP)”.
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.