Specialist
Former executive at CGG Services (Australia) Pty Ltd
Agenda
- Surveying service, including seismic data technology and equipment
- CGG’s (PAR: CGG) earnings potential, including 2022 assessment and growth opportunities
- Competitive landscape
- Finance structure – loans, debt repayments and impact on CAPEX spend
Questions
1.
Key business indicators for CGG’s geoscience division were positive in 2022. What main factor was contributing to a 2% increase in total production performance?
2.
When do you expect the payments receivable to truly come in amid CGG’s sales of GeoSoftware and Smart Data Solutions divisions?
3.
How do you see the other divisions within CGG’s geoscience business developing in terms of performance?
4.
In a scenario of less exploration and production activity from O&G [oil and gas] majors, how stable of a revenue stream is the multi-client business model for CGG?
5.
In terms of seismic imaging technology, can you highlight the geological differences across regions?
6.
You mentioned equipment and manufacturing. How significant is the threat posed by low-cost China-based manufacturers in land equipment provision?
7.
How can the equipment, which is needed for sensing and monitoring, be redeployed as it relates to renewable energy transition and environmental services?
8.
What are the main challenges for making geothermal energy commercial?
9.
What lessons can be learnt from Iceland and the geothermal operations and projects in the country?
10.
CGG has outstanding bonds worth USD 500m, or roughly EUR 585m. How might this impact free cash flow?
11.
Do you expect further withdrawal of the revolving credit facility when CGG’s FY22 results are published?
12.
CGG’s cash liquidity, which was USD 325m in Q3 2022, is expected to be around USD 298m in the FY22 guidance, resulting in a USD 27m difference. Was that all used to finance the debt or interest?
13.
Given CGG’s debt issues, including debt interest, and sale of assets, can you foresee a market share loss due to debt repayment pressures?
14.
What is your outlook for CGG over the next 12 months?
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