GlobeNewswire by notified

TGS Closes Transaction to Acquire the Multi-Client and Processing Assets of ION

Share

OSLO, Norway (1 September 2022) – TGS, a global provider of energy data and intelligence, today announced that on 31 August 2022, it closed its previously announced intent to acquire the multi-client and processing business of ION Geophysical Corporation (ION) (referred to as the E&P Technology and Services (EPTS) business). The acquisition includes substantially all of ION’s global offshore multi-client data library, data processing and imaging capabilities, intellectual property, and Gemini Extended Frequency Source technology and equipment. The transaction was concluded as part of ION’s bankruptcy process in the United States Bankruptcy Court for the Southern District of Texas.  

ION’s data library consists of over 637,000 kilometers of 2D and over 317,000 square kilometers of 3D multi-client seismic data in major offshore petroleum provinces globally, generating revenues in excess of USD 86M in 2021. TGS funded the acquisition from its current cash holdings and employed over 60 ION employees associated with the acquired business as part of the transaction. 

Kristian Johansen, CEO at TGS, said: “We are very pleased about closing the ION acquisition announced on 1 July. While we are excited about taking over another quality data library, particularly in the South Atlantic, we are equally pleased to add strong capabilities to our processing business in terms of software, hardware, imaging technologies and people. This marks another important step to consolidating the geophysical industry in line with our strategy to create a stronger and more viable business offering.

We are looking forward to a successful integration.”



About TGS
TGS provides scientific data and intelligence to companies active in the energy sector. In addition to a global, extensive and diverse energy data library, TGS offers specialized services such as advanced processing and analytics alongside cloud-based data applications and solutions.

Forward Looking Statement
All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS' reliance on a cyclical industry and principal customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data product at costs commensurate with profitability, as well as volatile market conditions, which have been exacerbated by the COVID-19 pandemic and the severe drop in oil prices.  Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

For more information, visit TGS.com or contact:

Sven Børre Larsen
Chief Financial Officer
investor@tgs.com

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://notified.com

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

EMGA completes EUR 9.4M capital raise for Kashf Foundation with financing from BIO3.10.2022 02:00:00 CEST | Press release

LONDON, Oct. 03, 2022 (GLOBE NEWSWIRE) -- The EURO 9.4 million funding facility for Kashf Foundation was originated, structured, and negotiated by Emerging Markets Global Advisory LLP (EMGA), the emerging market investment bank. Speaking on the transaction, Mr Shahzad Iqbal, CFO of Kashf Foundation said, “Kashf Foundation is registered as a Non-Banking Micro Finance Company regulated by the Securities and Exchange Commission of Pakistan. Set up in 1996 as the first specialized microfinance institution of Pakistan it began its operations as a Grameen replicator and since then, Kashf has successfully carved out a distinct and unique niche for itself in the microfinance sector in Pakistan by offering a suite of innovative and transformative products and services to low-income households especially for women. It has a current outreach of over 600,00+ female borrowers across its 360+ branches with a GLP of USD 90+ million.” “Just to share that it has always been a pleasure working with EMGA

FRO - 2022 Annual General Meeting30.9.2022 22:30:00 CEST | Press release

Frontline Ltd. (the “Company”) advises that the 2022 Annual General Meeting of the Shareholders of the Company was held on September 30, 2022 at 08:00 a.m. at Par-la-Ville Place, 4th Floor, 14 Par-la-Ville Road, Hamilton Bermuda. The audited consolidated financial statements for the Company for the year ended December 31, 2021 were presented to the Meeting. In addition, the following resolutions were passed: To set the maximum number of Directors to be not more than eight. To resolve that vacancies in the number of Directors be designated as casual vacancies and that the Board of Directors be authorised to fill such vacancies as and when it deems fit. To re-elect John Fredriksen as a Director of the Company. To re-elect James O’Shaughnessy as a Director of the Company. To re-elect Ola Lorentzon as a Director of the Company. To re-elect Ole B. Hjertaker as a Director of the Company. To re-elect Steen Jakobsen as a Director of the Company. To re-appoint PricewaterhouseCoopers AS of Oslo,

GOGL – 2022 AGM Results Notification30.9.2022 22:30:00 CEST | Press release

Golden Ocean Group Limited (the “Company”) advises that the 2022 Annual General Meeting of the Shareholders of the Company was held on September 30, 2022 at 08:30 a.m. at Par-la-Ville Place, 4th Floor, 14 Par-la-Ville Road, Hamilton Bermuda. The audited consolidated financial statements for the Company for the year ended December 31, 2021 were presented to the Meeting. In addition, the following resolutions were passed: To set the maximum number of Directors to be not more than eight. To resolve that vacancies in the number of Directors be designated as casual vacancies and that the Board of Directors be authorized to fill such vacancies as and when it deems fit. To re-elect John Fredriksen as a Director of the Company. To re-elect Ola Lorentzon as a Director of the Company. To re-elect James O’Shaughnessy as a Director of the Company. To re-elect Bjørn Tore Larsen as a Director of the Company. To re-elect Ben Mills as a Director of the Company. To re-appoint PricewaterhouseCoopers AS

Wolters Kluwer acquires Open Access publisher30.9.2022 20:45:00 CEST | Press release

Wolters Kluwer acquires Open Accesspublisher; Expands Breadth of Lippincott Journal Portfolio Waltham, MA, September 30, 2022 – Wolters Kluwer Health announced today that it has signed and completed an agreement to acquire IJS Publishing Group (IJSPG), a UK-based provider of peer-reviewed medical journals supporting scientists and authors. The IJSPG portfolio consists of 10 journal titles, including the International Journal of Surgery (IJS), IJS Case Reports (IJSCR), and Annals of Medicine and Surgery (AMS). IJSPG will become part of Health Learning, Research & Practice (LRP), which offers the Ovid®medical researchsolution, publishes over 300 medical journals and hundreds of medical and nursing books, and produces digital nursing solutions for education and practice. The acquisition expands the breadth and depth of the Lippincott journal portfolio with high impact factor, surgery-related research and strengthens its Open Access position with several well-established journals accessibl

EPH European Property Holdings PLC announces Interim Unaudited Results for the Six Months Ending 30 June 202230.9.2022 19:00:00 CEST | Press release

30 September 2022, Nicosia, Cyprus | Ad hoc announcement pursuant to Art. 53 LR EPH European Property Holdings PLC (EPH), a real estate investment company, today announces its interim unaudited results for the first half of 2022. BUSINESS HIGHLIGHTS FIRST HALF YEAR 2022 In February 2022, EPH European Property Holdings PLC (the “Company” or “EPH”) relocated to Cyprus, a member of the European Union and euro zone. Furthermore, EPH has changed its functional currency and presentation currency of EPH Group’s financial statements from US$ to EUR as of 1 January 2022. This takes into account the significant expansion of EPH’s European real estate portfolio and the strategy of the Company to focus its investments on major European cities. In addition, the change increases transparency and allows the Company to better reflect the performance of the asset portfolio, as a large proportion of the portfolio is located in Germany and Austria and rental income is generated in euros. EPH’s property p