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ElectroMagnetic GeoServices ASA ( (DE:E2M) ) has issued an announcement.
Electromagnetic Geoservices ASA reported a vessel utilization rate of 31% for the fourth quarter of 2024, showing an improvement from 0% in the same quarter of 2023. The Atlantic Guardian, their sole chartered vessel, conducted surveys in the North Sea and Norwegian Sea and is now en route to India for a new survey. The company anticipates approximately USD 9.4 million in multi-client pre-funding revenue for the quarter, attributed to completed surveys with final data delivery. This financial update reflects EMGS’s ongoing operations and market positioning in the marine EM sector.
More about ElectroMagnetic GeoServices ASA
EMGS is the leader in the marine electromagnetic (EM) market, providing technology that aids oil and gas companies in offshore hydrocarbon exploration. The company offers a comprehensive service suite from survey design and data acquisition to data processing and interpretation, integrating EM data with seismic and geological information to improve exploration efficiency and reduce risks. EMGS is also exploring the use of its technology in the detection and estimation of marine mineral deposits.
YTD Price Performance: 9.72%
Average Trading Volume: 550
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €23.15M
Find detailed analytics on E2M stock on TipRanks’ Stock Analysis page.