TGS Rises After PGS Reports Strong Multi-Client Sales

• (PLX AI) - TGS shares rise 4% after PGS reports Q2 multi-client sales will be in excess of $100 million.
• • PGS shares up 12%
• • PGS says continue to see an improvement of the marine seismic market in 2022 with significant lates sales, including high transfer fees
• • The main driver for the late sales appears to be transfer fees previously announced to be recognized in Q2/Q3, now expected to be booked in Q2, analysts at SEB said
• • Expect to see a similar positive effect for Q2 late sales for TGS, SEB said