Fri, Jul. 29, 8:22 AM
Tue, May 3, 5:05 AM
Thu, Mar. 3, 9:23 AM
- CGG (NYSE:CGG): Q4 EPS of -$1.46 may not be comparable to consensus of -$0.11.
- Revenue of $589M (-35.0% Y/Y) misses by $266M.
Fri, Jan. 29, 12:44 PM
Wed, Jan. 27, 12:49 PM
Fri, Jan. 15, 12:49 PM
Thu, Jan. 14, 12:46 PM
Thu, Jan. 14, 8:53 AM
- CGG -24.8% premarket after saying yesterday it would sell as much as €350M in new shares ($379M) at a 72% discount to finance its plan to transform from a seismic acquisition company into an integrated geosciences group.
- CGG says it will use the proceeds principally to cover the ~$175M shortfall in consolidated net working capital and to finance its activities, which will reduce its reliance on drawing from its revolving credit facilities.
- CGG says French oil peer Total (NYSE:TOT) may buy as much as €35M of new shares if they remain unsold at the end of the subscription period on Jan. 27.
Nov. 5, 2015, 6:21 AM
- CGG (NYSE:CGG): Q3 EPS of -$6.07 may not be comparable to consensus of -$0.14.
- Revenue of $470M (-32.3% Y/Y) misses by $141M.
Aug. 28, 2015, 12:29 PM
- CGG (CGG -0.2%), the oilfield surveyor that last year rejected a takeover bid from Technip, may need to raise capital because of its "horrendous” financial situation following the collapse of crude oil prices, Exane BNP Paribas says.
- While praising recent cost cuts, CGG’s balance sheet "is a bigger concern than ever,” and "liquidity could finally become a problem if conditions do not improve," the firm says.
- CGG may have to raise $300M-$500M of equity, BNP says.
Jul. 31, 2015, 7:00 AM
- CGG (NYSE:CGG): Q2 EPS of -$0.35 may not be comparable to consensus of -$0.03.
- Revenue of $473M (-31.4% Y/Y) misses by $133M.
May 19, 2015, 3:00 PM
- WTI crude oil is down $2.13 to $58.11/barrel on worries about high Saudi production and weak global demand. Seismic exploration hardware/service providers Ion Geophysical (IO -4%), Geospace (GEOS -1.6%) and CGG (CGG -5.8%) have followed crude lower.
- Geospace and CGG have rallied over the last 6 weeks as oil prices rebounded. Ion, which hasn't been so lucky, rose last Friday in response to an insider buy.
May 6, 2015, 6:04 AM
- CGG (NYSE:CGG): Q1 EPS of -$0.31 may not be comparable to consensus of -$0.03.
- Revenue of $570M (-29.3% Y/Y) misses by $93M.
Mar. 13, 2015, 8:59 AM
- CGG CEO Jean-Georges Malcor says he would welcome a commercial partnership deal for seismic oil surveys with Technip (OTCPK:TNHPF, OTCPK:TKPYY), after spurning a takeover approach four months ago.
- Malcor says a deal with Technip could be modeled on the one it has with Baker Hugues for using its seismic technology to locate production sweet spots in shale reservoirs.
- The CEO says there have been no talks with Technip since the European oil services provider abandoned a plan in December to make an offer for CGG.
Feb. 26, 2015, 8:42 AM
- Oilfield seismic surveyor CGG reports a Q4 net loss of $667M and a FY 2014 net loss of $1.2B after a writedown for restructuring costs and cutting the size of its fleet.
- CGG says it will cut 2015 capex by ~25% from last year's $862M, will cut its fleet to 11 vessels this year from 13 at year-end 2014 and 18 vessels at the end of 2013, and cut ~400 jobs.
- However, shares are up 8.5% in Paris trading after CEO Jean-Georges Malcor said he would not rule out a merger; last year, Technip approached CGG about a combination of the two French companies, which CGG rejected.
Feb. 26, 2015, 4:03 AM
- CGG (NYSE:CGG): Q4 EPS of -$3.78 may not be comparable to consensus of $0.04.
- Revenue of $906M (-5.2% Y/Y) beats by $77M.
CGG is an integrated geosciences company, which provides geological geophysical and reservoir capabilities to its broad base of customers primarily from the global oil and gas industry. It manufactures geophysical equipment, as a provider of marine, land and airborne data acquisition services.... More
Sector: Basic Materials
Industry: Oil & Gas Equipment & Services