Electromagnetic Geoservices ASA 2017 AR2
The report highlights EMGS's performance and strategic developments in 2017, a challenging year for the oil services industry. The company commercialized its Next Generation EM equipment, the DeepBlue source system, and completed its first commercial survey in July 2017. EMGS implemented significant cost-reduction measures, including reducing headcount, fleet size, and renegotiating vessel charter agreements. Financially, the company completed a rights issue in July 2017, raising gross proceeds of NOK 144 million, and proposed a comprehensive refinancing plan in early 2018 to improve financial stability.
Company: Electromagnetic Geoservices ASA
Sector: Energy
Country: Norway
Year: 2017
Type: AR2
Pages: 101
Electromagnetic Geoservices ASA
Annual Report
The report highlights EMGS's performance and strategic developments in 2017, a challenging year for the oil services industry. The company commercialized its Next Generation EM equipment, the DeepBlue source system, and completed its first commercial survey in July 2017. EMGS implemented significant cost-reduction measures, including reducing headcount, fleet size, and renegotiating vessel charter agreements. Financially, the company completed a rights issue in July 2017, raising gross proceeds of NOK 144 million, and proposed a comprehensive refinancing plan in early 2018 to improve financial stability.
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Document Details
Report Year
2017
Reporting Period
Jan 1, 2017 - Dec 31, 2017
Fiscal Year
2017
Type
Annual Report with Sustainability Disclosures
Language
English
Pages
File Size
Standards & Assurance
Materiality Assessment
ESG Data?Experimental — AI-extracted data, may contain inaccuracies
Women on Board
Women in Management
Employees