PGS sees positive signs for 3D survey market
PGS expects an increase in high-end seismic acquisition activity across the industry this year.
The main drivers are a likely upsurge in 4D streamer monitoring surveys andmulti-client 3D projects; a higher and more stable oil price and improved cash flow among clients; and a growing constraint on available streamers.
PGS anticipates securing multi-client cash investments of around $275 million, with a pre-funding level close to 100%.
This year the company predicts its capex will be roughly $150 million, of which around $85 million relates to completion of the newbuild vesselRamform Hyperion.
At the end of last year the company’s order book stood at $215 million.