TGS Says Maintains Guidance despite Softer Market

Reuters

OSLO, Sept 10 (Reuters) – Seismic oil and gas surveyor TGS said it was maintaining its 2014 guidance, even as the global exploration market is soft for both this year and next, the firm said on Wednesday.

The firm continues to see net revenues between $870 million and $950 million and multi-client investments between $390 million and $460 million.

Rival PGS cut its capital spending targets on Tuesday and said it would idle some vessels because of a soft market.

(Reporting by Balazs Koranyi, editing by Terje Solscik)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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