TGS Boosts Multi-Client Seismic Activity and Streamer Utilization in Q1 2026

TGS ( (GB:0MSJ) ) has issued an update.

TGS reported a sharp shift in its operational mix for the first quarter of 2026, with normalized Ocean Bottom Node activity moving from contract work toward multi-client projects and streamer vessel capacity heavily skewed to multi-client surveys. Active seismic 3D streamer vessels devoted 65% of capacity to multi-client work versus 26% to contract, while the company maintained a six-vessel fleet and increased expected multi-client investments to about $178 million from $129.7 million a year earlier.

Chief executive Kristian Johansen said streamer utilization reached 91% in the quarter, beating internal expectations and rising from 79% in the prior quarter, driven by three large projects in the Equatorial Margin and Brazil’s Pelotas basin. OBN operations were focused in the Gulf of America on both contract and Apex 1 multi-client work, and while geopolitical tensions in the Middle East add near-term uncertainty, management underscored that they also underscore the longer-term need for higher reserve replacement and greater exploration spending across the industry.

The most recent analyst rating on (GB:0MSJ) stock is a Sell with a NOK60.00 price target. To see the full list of analyst forecasts on TGS stock, see the GB:0MSJ Stock Forecast page.

More about TGS

TGS is a global provider of advanced data and intelligence for the energy sector, offering products that span the entire energy value chain. The company leverages leading-edge technology and an extensive, diversified energy data library to support clients’ exploration and production decisions worldwide, positioning itself as a key partner for reserve replacement and exploration planning.

YTD Price Performance: 35.94%

Average Trading Volume: 440,933

Current Market Cap: NOK24.16B

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