Electromagnetic Geoservices (EMGS) releases information on vessel activity and multi-client sales during the quarter approximately 4-5 working days after the close of each quarter. The Company defines vessel utilisation as the percentage of the vessel charter period spent on proprietary or multi-client data acquisition. Downtime (technical or maritime), mobilisation, steaming, and some standby activities are not included in the utilisation rate.
At the end of the second quarter 2025 the Company had one vessel on charter, the Atlantic Guardian. The Atlantic Guardian completed the second of two proprietary surveys in India in the quarter and started transit back to Norway for three fully prefunded multi-client surveys in the North Sea with a total contract value of USD 2.7 million.
The utilization for the second quarter was 44% compared with 51% for the second quarter 2024.
EMGS had one vessel in operation and recorded 3.0 vessel months in the quarter. In the second quarter 2024, the Company recorded 3.0 vessel months.
Multi-client revenues in the second quarter
The Company expects to record approx. USD 200,000 in multi-client late sales in the second quarter of 2025.
Source: EMGS
