EMGS reports 31% vessel utilization rate in Q4 2024 with plans for future surveys.

From GlobeNewswire: 2025-01-13 14:30:00

Electromagnetic Geoservices ASA (EMGS) reported a vessel utilization rate of 31% in the fourth quarter of 2024, up from 0% in the same quarter of 2023. The company had one vessel, the Atlantic Guardian, conducting multi-client surveys in the North Sea and Norwegian Sea, with plans to move to India for a proprietary survey. EMGS expects approximately USD 9.4 million in multi-client pre-funding revenue for the quarter. The company will release its financial results on February 11, 2025. EMGS specializes in using its proprietary electromagnetic technology to support oil and gas companies in offshore hydrocarbon exploration.



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