The companies said in an April 17 press release that they continue to expect the merger to close during second-quarter 2024. (Source: Shutterstock/ TGS/ PGS)
Energy data companies PGS and TGS have received competition clearance from Norwegian regulators related to their merger into a full-service energy data company.
The deal is still under review by the U.K. Competition Market Authority with a deadline of June 11 to announce clearance or further review for the deal.
The companies said in an April 17 press release that they continue to expect the merger to close during second-quarter 2024.
The transaction will establish the combined company as a full-service geophysical data company with offerings in streamer data acquisition, ocean bottom node data acquisition, imaging and new energy data, the companies said when the merger was announced in September.
The transaction is expected to help mitigate supply chain risks and add further to economies of scale and efficiency.
Recommended Reading
NatGas Prices Drop After Freeport LNG Train Shutdown
2024-11-24 - Freeport LNG’s report says one of three liquefication trains went offline due to an oil lube pump issue on Nov. 20.
Darbonne: What are We Supposed to do Without Hydrocarbons?
2024-11-21 - Oil and Gas Investor asked individuals who understand fossil fuels if any “end oil” agitator has ever explained what the world would do without hydrocarbons. No, they haven’t gotten an answer either.
NatGas Storage Drops Ahead of Predictions
2024-11-21 - U.S. Energy Information Administration's weekly report shows the first withdrawal of the fall, a week before the consensus forecast.
US NatGas Prices Jump 7% to 1-Yr High on Surprise Storage Draw, Colder Forecasts
2024-11-21 - The U.S. Energy Information Administration said utilities pulled 3 Bcf of gas from storage during the week ended Nov. 15.
Permian Trends Continue to Point to Crude Growth
2024-11-20 - Smaller, more creative M&A deals are becoming the standard in the Permian’s Midland and Delaware basins, an Enverus analyst says.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.