PGS repositions with onshore divestiture

Petroleum Geo-Services (PGS) has sold its onshore seismic data acquisition business and onshore multi-client library business to Geokinetics Inc. for $210 million.

Offshore staff

HOUSTON -- Petroleum Geo-Services (PGS) has sold its onshore seismic data acquisition business and onshore multi-client library business to Geokinetics Inc. for $210 million.

“This transaction establishes PGS as a focused marine geophysical company,” says John Erik Reinhardsen president and CEO of PGS. “The strengthened financial position of PGS will further allow us to continue to develop the most efficient fleet and leading edge technology in the industry.”

12/04/2009

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