CGG Announces the Sale of its US Land Seismic Multi-Client Library

GlobeNewswire

Dec 16, 2022

Paris, France – December 16, 2022

CGG announced today the sale, to Bon Ton Seismic LLC (Bon Ton), of its US land seismic multi-client library encompassing approximately 20,000 square miles (about 52 000 km²) of 3D seismic data for a total cash consideration of US$63 million.

Commenting on the transaction, Sophie Zurquiyah, CEO of CGG, said: “The sale of our US Land data library is part of a continuous process of business portfolio management that was initiated in 2018. Earth Data will continue to focus on key prolific offshore hydrocarbon basins, CCUS, Minerals & Mining, and Digital. We are pleased to put our extensive land portfolio in the capable hands of Bon Ton.”

About CGG

CGG (www.cgg.com) is a global technology and HPC leader that provides data, products, services and solutions in Earth science, data science, sensing and monitoring. Our unique portfolio supports our clients in efficiently and responsibly solving complex digital, energy transition, natural resource, environmental, and infrastructure challenges for a more sustainable future. CGG employs around 3,300 people worldwide and is listed on the Euronext Paris SA (ISIN: 0013181864).

Contacts

Group Communications & Investor Relations
Christophe Barnini
Tel: + 33 1 64 47 38 11
E-Mail: christophe.barnini@cgg.com

Attachment

CGG Announces the Sale of its US Land Seismic Multi-Client Library

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We are pleased to put our extensive land portfolio in the capable hands of </em><em>Bon Ton</em>.”</p> <p><strong>About CGG</strong></p> <p><em>CGG (</em><em>www.cgg.com</em><em>) </em><em>is a global technology and HPC leader that provides data, products, services and solutions in Earth science, data science, sensing and monitoring. Our unique portfolio supports our clients in efficiently and responsibly solving complex digital, energy transition, natural resource, environmental, and infrastructure challenges for a more sustainable future. 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