TGS today announced that it signed an LOA to conduct a proprietary 4D OBN survey in Walker Ridge canyon in the U.S. Gulf of Mexico.
The MSEIS shares are delisted from trading on Oslo Børs, following TGS ASA acquiring all the shares in the company.
The acceptance period for the Mandatory Offer expired at 16:30 hours (CET) on 21 December 2022. Following completion of the Mandatory Offer and subject to due settlement of the shares for which acceptances are received, the Offeror will own 264,890,034 Magseis Fairfield shares, equaling approximately 97,49% of the outstanding shares and votes in the Company.
The acceptance period for the Mandatory Offer expired at 16:30 hours (CET) on 21 December 2022. Following completion of the Mandatory Offer and subject to customary verification and due settlement of the shares for which acceptances are received, TGS will own 264,750,410 Magseis Fairfield shares, equaling approximately 97.43% of the outstanding shares and votes in the Company.
At Project Greensand, we work to deliver innovative contributions, and we are proud to be at the forefront of our field and offer greater flexibility in the approach to seismic measurements for CCS monitoring.
On 11 October 2022 TGS completed the recommended voluntary offer to acquire Magseis Fairfield, through which TGS acquired approximately 75.40% of the MSEIS shares. The offer triggered an obligation to make a mandatory offer for all the remaining shares.
Magseis Renewables AS, a wholly owned subsidiary of Magseis Fairfield ASA, has secured a data acquisition contract for a CCS monitoring project in the North Sea.
Following TGS ASA acquiring majority of the Magseis Fairfield ASA shares and corresponding change of control, all outstanding stock units from the Long Term Incentive Program (“LTIP”) have been concluded and settled in cash at a price of NOK 8.08 per share
Reference is made to the stock exchange announcement made earlier today regarding the award of a 4D OBN project in the North Sea with options for additional work. Magseis Fairfield announce that we have signed an agreement for an additional project to be covered as part of the program