PGS returns to profit amid improving market

Norwegian seismic services provider Petroleum Geo-Services (PGS) returned to profit in the third quarter of the year from a loss in the corresponding quarter of 2018 as its revenues received a boost amid improving market environment.

In its report for the third quarter of 2019, PGS on Thursday reported total revenues of $276.5 million, compared to $163.4 million in Q3 2018.

PGS reported segment revenues of $234.2 million for Q3 2019, compared to $192.1 million in Q3 2018.

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