Oslo, Norway (14 August 2019) - TGS-NOPEC Geophysical Company ASA ("TGS", OSE: TGS) announced today that it has completed its acquisition of Spectrum ASA (“Spectrum”, OSE: SPU), creating a leading global multi-client geophysical data provider.TGS first announced its intent to acquire Spectrum on 2 May 2019. Explore our vast global coverage in our new interactive map.In addition to our extensive global geophysical and geological data libraries, we also offer advanced processing and imaging services, interpretation products, and robust data-application integration. During the process, TGS acquired all assets, rights and obligations of Spectrum, and Spectrum ceased to exist on the Oslo stock Exchange.
Commenting on the acquisition, Kristian Johansen, CEO of TGS, said “We are pleased to … Here you can access our latest news, download articles or technical papers from our library, or learn more about our upcoming conferences and events.Our most important competitive advantage is our people. The outstanding work of our project developers, geologists, geoscientists, data processors, sales and support people has made TGS the leading multi-client player. Notices for the general meetings will be sent to shareholders soon.
The merger plan (with appendices) is attached to this notice here along with previous TGS annual reports (Annual report 2016, Annual report 2017, Annual report 2018). Access the industry’s largest volume of geoscience data through TGS’ cloud-based web portal, R360.TGS places great emphasis on providing accurate and timely information to the market and shareholders.
They’re the reason TGS delivers superior project quality and financial performance year after year.Products & Services featured content CTA would go in this area, promoting some of the company’s latest accomplishments.Products & Services featured content CTA would go in this area, promoting some of the company’s latest accomplishments. Our unique culture, people and quality library will ensure that when E&P companies think geoscientific data, they think TGS.At TGS, we place great emphasis on providing accurate and timely information on our performance and projects to the market and shareholders. Further, the combination of TGS and Spectrum has been well received by our clients who will benefit from our comprehensive data library, quality and service.”Mr.
The combined company has already secured several larger data sales and pro-forma revenues for Q3 2019 are expected to be in excess of MUSD 250. Here you can access our latest news, download articles or technical papers from our library, or learn more about our upcoming conferences and events.Our most important competitive advantage is our people. Explore our vast global coverage in our new interactive map.In addition to our extensive global geophysical and geological data libraries, we also offer advanced processing and imaging services, interpretation products, and robust data-application integration. Our flexible, asset-light business model and ability to adjust costs rapidly continue to allow us to deliver significant shareholder value—even in a difficult market.It is our vision to become the leading energy information company with the best people, quality and service. By continuing to use our site, you are agreeing to our use of cookies.
As a consequence and following the issuance of 16,076,047 consideration shares to the former shareholders of Spectrum, the new share capital of TGS is NOK 29,680,959.25 divided on 118,723,837 shares each with a nominal value of NOK 0.25.Commenting on the acquisition, Kristian Johansen, CEO of TGS, said, “We are pleased to have formally closed the transaction to acquire Spectrum. Access the industry’s largest volume of geoscience data through TGS’ cloud-based web portal, R360.TGS places great emphasis on providing accurate and timely information to the market and shareholders. Our flexible, asset-light business model and ability to adjust costs rapidly continue to allow us to deliver significant shareholder value—even in a difficult market.It is our vision to become the leading energy information company with the best people, quality and service. Johansen continued, “As we now move into the integration process, I’m pleased to announce that we have seen a great start to the third quarter. For more information, Spectrum's portfolio will enhance TGS' position as a leading multi-client geophysical data provider covering all mature and frontier basins.
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