Investor directory

Petroleum Geo-Services

Petroleum Geo-Services is a leading provider of marine seismic and electromagnetic services, specializing in assisting oil and gas companies in locating and managing offshore reservoirs. The company offers a comprehensive range of products, including seismic acquisition, data processing, imaging, interpretation, and field evaluation. Its services enable clients to obtain detailed images and 3D models of the subsurface beneath the ocean floor, facilitating the exploration and development of oil and gas reserves. A significant portion of the company's revenue comes from its multiclient segment, where it conducts seismic surveys that are processed, marketed, and sold to multiple customers on a nonexclusive basis. While Petroleum Geo-Services operates globally, a substantial portion of its business is concentrated in Norway.

Top Stages

Acquisition
http://www.pgs.com
https://crunchbase.com/organization/petroleum-geo-services
https://facebook.com/petroleumgeoservices
https://linkedin.com/company/pgs
https://pitchbook.com/profiles/company/41184-10
https://twitter.com/pgsnews
https://www.capitaliq.com/CIQDotNet/company.aspx?companyId=345867

Rob Adams

Executive Vice President of Operations

4 past transactions

Arrow Seismic

Acquisition in 2007
Arrow owns and operates two 3D vessels and has three vessels under conversion to 2D/source vessels, including one vessel with possibilities for upgrade to 6-streamer operation.

Applied Geophysical Services

Acquisition in 2007
AGS specializes in delivering depth imaging services to the oil and gas industry, currently focusing primarily on the depth market in the Gulf of Mexico, using a proprietary 3D beam migration technology. AGS has more than a 20-year track record in the Gulf of Mexico.

Roxicon AS

Acquisition in 2007
Roxicon AS offers seismic velocity data as point datasets and final cubes, which are available on North Sea, Norwegian Sea, and Barents Sea. In addition, the company provides seismic and velocity specialist services, such as pre- and post-stack seismic processing, velocity filtering and despiking, and geostatistical correction and cubing; and G&G data consulting, including master projects design and implementation, G&G data support, and cultural data updates.

MTEM Limited

Acquisition in 2007
In 2001 Anton Ziolkowski, Bruce Hobbs and David Wright of the University of Edinburgh invented a new electromagnetic method to detect sub-sea and underground hydrocarbons. In 2003 they founded MTEM Ltd. to develop the technology and provide land and marine surveys to oil companies. In November 2004 MTEM Ltd. was launched from the University of Edinburgh with £7.4M of funding from three equal investors: HitecVision, Energy Ventures, and Scottish Equity Partners. MTEM Ltd. developed and built systems to perform land and marine transient electromagnetic surveys that can identify hydrocarbons before drilling, thus reducing the risk of drilling “dry” wells and saving millions of dollars per well. In June 2007 Petroleum Geo-Services (PGS) bought MTEM Ltd. for $275M. The University of Edinburgh’s share of the sale was £8.6M, of which £2.6M funded 164 PhD studentships. PGS continues to develop the technology.
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