Norway's PGS Says Order Book Rose to $644M by the End of May

Reuters

OSLO, June 11 (Reuters) – The order book of Norwegian seismic surveyor Petroleum Geo-Services grew by $34 million from the end of March to the end of May, the firm reported on Wednesday.

PGS, which scans the ocean floor for oil and gas deposits, said orders rose to $644 million by the end of May from $610 million at the end of the first quarter.

The firm said it had secured work for 90 percent of its fleet capacity for the third quarter, 40 percent for the fourth quarter and 20 percent for the first quarter of next year.

This compares to corresponding figures from the first quarter report of 85 percent for the third quarter, 30 percent for the fourth quarter and 10 percent for the first quarter of 2015.

(Reporting by Henrik Stolen, editing by Terje Solsvik)

 

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