PGS has entered a contract to carry out a 3-D survey in South America for an undisclosed client, the company said in a news release Nov. 14.
The contract value is estimated at more than $75 million.
PGS said it plans to use two Ramform Titan-class vessels for an estimated total duration of about 13 vessel months. Acquisition is scheduled to start in the second half of November.
Norwegian oil company DNO raised its bid for Britain's Faroe Petroleum after its hostile bid in November as inadequate and "opportunistic."
Oslo-listed seismic surveyor TGS posted a smaller-than-expected increase in fourth-quarter revenues on Jan. 9 and said a recent fall in crude prices created uncertainty around the spending plans of its customers in the oil industry.
Canadian producer Crescent Point Energy cut its 2019 capital budget by 30% compared to last year, blaming the recent decline in oil prices.