Oslo – October 11, 2026 -- TGS expects multi-client investment of about USD 63 million in Q3 2026, down from USD 85.9 million in Q3 2025, according to its preliminary financial review.
OBN crew count of 2.2 beats expectations
The normalized Ocean Bottom Node (OBN) crew count for the third quarter was 2.2, slightly above company expectations. TGS completed two OBN contracts during the period: one in the Gulf of America for a client with which it has a long-term capacity agreement, and a node-on-a-rope contract in Europe.
North Sea project drags down streamer utilization
Streamer 3D vessel utilization came in below expectations, even though bookings were high going into the quarter. CEO Kristian Johansen attributed the shortfall to operational challenges on a North Sea multi-client project, which was completed in September.
All streamer capacity booked for Q4
TGS expects streamer 3D vessel utilization to remain high, with all of its streamer 3D vessel capacity booked for Q4. The company's allocation statistics cover active seismic 3D streamer vessels and exclude capacity working on site characterization projects.
Full Q3 results due October 22
TGS will publish its Q3 2026 results at 07:00 a.m. CEST on 22 October 2026. Johansen and CFO Sven Børre Larsen will present the results at 09:00 a.m. CEST in a live webcast.