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
Belcher: Election Outcomes and Their Impacts on Future US Policy
2024-10-14 - Trump would back ‘energy dominance,’ while Harris would pursue a climate change agenda.
US Offshore Driller Asks Judge to Block Insurers' Demands for $250MM Collateral
2024-12-12 - W&T Offshore has asked a federal judge to block insurance companies' demands for $250 million.
Trump Prepares Wide-Ranging Plans to Boost Gas Exports, Oil Drilling
2024-11-26 - Sources say that Trump will lift Biden's pause on LNG export licenses, expedite drilling permits on federal land and boots auctions of offshore drilling leases.
Andium’s Thermal Methane Tech Takes Oilfield from Dark Age to Golden Future
2024-11-12 - Andium Founder and CEO Jory Schwach took the oilfield out of the dark ages of using carbon paper to monitor tank levels with his AI thermal camera. Now he foresees more growth after completing the company’s latest funding round.
Electrification of Permian Faces a Problem: Not Enough Shock for the System
2024-11-21 - Permian Basin producers may have to wait years for Texas utilities to grow the grid.
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.