EMGS in double win

Norway’s Electromagnetic Geoservices (EMGS) has entered into two deals with a total value of about $5.9 million. 

According to its Oslo Stock Exchange filing on Wednesday, EMGS entered into an agreement with one of its clients related to the client’s licenses to CSEM data from EMGS’ multi-client library in Norway.

The agreement covers the client’s merger with another entity and the merger fees payable as a result of this, as well as an upfront settlement of all uplifts which would otherwise be payable to EMGS from that client as a result of license awards in APA17 and the 24(th) licensing round in Norway.

Furthermore, EMGS has entered into a data licensing agreement related to its existing CSEM multi-client library in the Americas.

The two agreements represent combined net revenues to EMGS of approximately $5.9 million.