• 2022 July 11 13:27

  TGS expects its Q2 net revenues to reach USD 230 million

  

  Based on preliminary reporting from operating units, TGS management expects net revenues for Q2 2022 to be approximately USD 230 million, compared to USD 72 million in Q2 2021. Net POC revenues (percentage of completion) are expected to be approximately USD 136 million, compared to USD 54 million in Q2 2021.
  
  Kristian Johansen, CEO at TGS, commented: “Q2 2022 was another solid quarter with late sales of close to USD 100 million, driven by a further improvement of activity in frontier areas and transfer fees. With a quarter-end cash balance of approximately USD 255 million in addition to an undrawn revolving credit facility of USD 100 million, we have a solid financial position that can comfortably fund the recently announced M&A transactions”
  
  TGS will release its Q2 2022 results on 21 July 2022.
  
  TGS provides 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. Corporate and operational headquarters are based in Oslo, Norway and Houston, Texas, accordingly.

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