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Press Release

Reduction of Cash Costs and Related Issuance of Senior Notes

Publish Location
Paris, France
Body

Reflecting CGG’s commitment to focus on strict cost and cash management, CGG and CGG’s Norwegian subsidiary Exploration Investment Resources II have entered into agreements to substantially reduce the cash burden of the charter agreements (guaranteed by CGG) in respect of three cold-stacked seism

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    Group Communications & Investor Relations Contacts

    About CGG

    CGG (www.cgg.com) is a global geoscience technology leader. Employing around 3,700 people worldwide, CGG provides a comprehensive range of data, products, services and solutions that support our clients to more efficiently and responsibly solve complex natural resource, environmental and infrastructure challenges. CGG is listed on the Euronext Paris SA (ISIN: 0013181864).

    CGG Announces the Closing of GeoSoftware Business Sale for a Total Cash Consideration of US$95 million

    Publish Location
    Paris, France
    Body

    CGG S.A. (“CGG”) is pleased to announce today the completion of the previously announced sale of CGG’s GeoSoftware business to Topicus.com Inc. ("Topicus") and Vela Software (“Vela”) for the total cash consideration of US$95 million (subject to certain customary closing adjustments).

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      Contacts

      About CGG

      CGG (www.cgg.com) is a global geoscience technology leader. Employing around 3,700 people worldwide, CGG provides a comprehensive range of data, products, services and solutions that support our clients to more efficiently and responsibly solve complex natural resource, environmental and infrastructure challenges. CGG is listed on the Euronext Paris SA (ISIN: 0013181864).

      Trading and Financial Strategy Update

      Publish Location
      Paris, France
      Body

      In a market that remains difficult, multi-client sales are estimated at circa $135 million in the fourth quarter of 2016, with a level of prefunding in line with target (a prefunding rate above 80% on an annual basis) but an after-sales volume below our expectations.

      Publish Date
      Layout Canvas
        Group Communications & Investor Relations Contacts

        About CGG

        CGG (www.cgg.com) is a global geoscience technology leader. Employing around 3,700 people worldwide, CGG provides a comprehensive range of data, products, services and solutions that support our clients to more efficiently and responsibly solve complex natural resource, environmental and infrastructure challenges. CGG is listed on the Euronext Paris SA (ISIN: 0013181864).