Petroleum Geo-Services (OTCPK:PGSVY) is a Norwegian seismic data company that trades on the Oslo Stock Exchange, with an additional listing on the pink sheets in the US. PGS is a "pure-play" marine geophysical company; none of their business is done on land.
With the 12-month futures strip for Brent Crude oil trading at prices above $100 and day-rate pricing continuing to rise, concerns of a slowdown in offshore drilling activity appear to be overblown. Seismic acquisition companies like PGS are integral players within the Oil and Gas industry and have benefited tremendously over the past few years as drilling technology has improved and oil prices have remained elevated.
The marine geophysical industry is limited to about...
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