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Enter Symbol:
Rating: PGSVY
Buy

Petroleum Geo-Services ASA (ADR) (OTCBB: PGSVY) rated to Buy by HSBC Securities

Tuesday,  Jan 26, 2016  10:25 AM ET by Betsy O'Brien Harrison

HSBC Securities rated
Petroleum Geo-Services ASA (ADR) (OTCBB: PGSVY) to Buy.

Petroleum Geo-Services ASA (PGS) is a Norwegian-based marine geophysical company. It offers a range of products, including seismic and electromagnetic services, data acquisition, processing, reservoir analysis/interpretation and multi-client library data. The Company operates through two business units: Marine, which acquires and markets seismic data used by oil and natural gas companies, as well as governments globally, and Data Processing and Technology, comprising Data Processing, Geoscience and Engineering, Commercialization and New Ventures as well as PGS EM departments. It operates through a number of subsidiaries, including PGS Geophysical AS, PGS Exploration (Nigeria) Ltd., PGS Mexicana SA de CV and others. In 2009, the Company sold its onshore seismic data acquisition and multi-client data library business (PGS Onshore) to Geokinetics, Inc.

HSBC has refined and refocused its Global Equities organisation, creating a lean and flexible business model built to meet the needs of global issuers and investors today and in the future. Acknowledging the changing demands of clients, we have also refined our research model, moving away from traditional maintenance to focus on long term, thematic research (a two-year-plus horizon) combined with short term (zero to three months), real-time, actionable ideas both for companies and sectors.



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