Report
Jon Masdal
EUR 90.87 For Business Accounts Only

And then there were two

We believe Shearwater’s acquiring the former Polarcus vessels was the best outcome for the industry. We expect a disciplined approach to future capacity additions; however, with a low-cost offering and more optimal fleet size, we believe Shearwater will gain market share from PGS.
Underlyings
CGG
CGG

CGG is a global participant in the geophysical seismic industry. Co. manufactures geophysical equipment and provides marine, land, and airborne data acquisition services. Co. also provides geosciences services, including data imaging, seismic data characterization, geosciences and petroleum engineering consulting services, and collecting, developing and licensing geological data. Co.'s clients are in oil and gas exploration and production industies. Co. divides its activities into four segments: Equipment, Contractual Data Acquisition, Geology, Geophysics and Reservoir (GGR), and Non-Operated Resources, including eight business lines, six Corporate functions, and four Group Departments.

Magseis Fairfield

Magseis Fairfield ASA, formerly Magseis ASA, is a Norway-based company engaged in geophysical surveying and mapping. The Company specializes in Ocean Bottom Seismic (OBS) acquisition services dedicated to the oil and gas industry. The Company's Marine Autonomous Seismic System (MASS) consists of the in-sea cable and sensor capsules, automated handling and data download. Together with a range of miniaturized Fairfield Z-nodes, it enables operations in water depths to 3000 meters. The Company divides its operations into six regions, namely Barents Sea (Norway), Malaysia, Singapore, the Red Sea, United Kingdom and Sweden. It has offices in Norway, Sweden, the United Kingdom, Brazil, Singapore and the United States.

PGS ASA

Petroleum Geo-Services is engaged in providing geophysical services and oil and gas production services. As of Dec. 31, 2001, Co. operated six Ramform design vessels in its marine seismic data acquisition operations.

Polarcus Limited

TGS-NOPEC Geophysical Company ASA

TGS Nopec Geophysical provides geoscience data to oil and gas exploration and production companies worldwide. In addition to global geophysical and geological data libraries that include seismic data, magnetic and gravity data, digital well logs, production data and directional surveys, Co. also provides advanced processing and imaging services, interpretation products, permanent reservoir monitoring and data integration solutions.

Provider
DnB Markets
DnB Markets

DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.

 

Analysts
Jon Masdal

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