PGS targets to complete the process before the summer and expects to use the proceeds to pay a $300 million special dividend, as earlier disclosed, and repay its existing credit facilities.
PGS is a focused geophysical company providing a broad range of seismic and reservoir services, including acquisition, processing, interpretation, and field evaluation. The company also possesses the world's most extensive multi-client data library. PGS operates on a worldwide basis with headquarters at Lysaker, Norway.
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