Norwegian Seismic Surveyor PGS Warns on Profit

Reuters

OSLO, Oct 15 (Reuters) – Norwegian seismic surveyor Petroleum Geo-Services cut its 2014 earnings guidance again due to worsening demand from oil companies, it said on Wednesday.

Its earnings before interest, taxes, depreciation and amortisation is expected to amount to $725 million in 2014, down from the $850 million it saw in July, and against the $900-950 million the firm expected earlier in the year.

In September the firm said it would cut capital spending and take vessels out of service. 

(Reporting by Gwladys Fouche, editing by Balazs Koranyi)

Copyright 2017 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Geological Technician
Expertise: Geoscience Technician
Location: Alaska, 
 
Senior Revenue Accountant
Expertise: Accounting|Asset Management|Financial Audit
Location: San Antonio, TX
 
CDL Driver - Memphis (OTR)
Expertise: Business Development|Dispatcher
Location: Memphis, TN
 
search for more jobs

Brent Crude Oil : $44.82/BBL 2.60%
Light Crude Oil : $42.53/BBL 1.61%
Natural Gas : $2.89/MMBtu 0.68%
Updated in last 24 hours