French seismic survey group CGG will hold a board meeting in the coming hours to decide whether to launch a capital increase or attract new investors to finance a planned reorganization, sources told Reuters on Dec. 3.
The sources said a formal announcement was expected early next week. CGG had no comment.
Hurt by decreasing exploration budgets in the oil and gas industries, CGG said in November it was considering the sale of non-core assets as well as a possible rights issue.
French public investment bank BPIFrance, which holds a 7.04 percent stake in CGG, according to Thomson Reuters data, said last month it was supporting CGG's efforts.
Recommended Reading
No Silver Bullet: Chevron, Shell on Lower-carbon Risks, Collaboration
2024-04-26 - Helping to scale lower-carbon technologies, while meeting today’s energy needs and bringing profits, comes with risks. Policy and collaboration can help, Chevron and Shell executives say.
Solar Sector Awaits Feds’ Next Move on Tariffs
2024-04-25 - A group of solar manufacturers want the U.S. to impose tariffs to ensure panels and modules imported from four Southeast Asian countries are priced at fair market value.
Solar Panel Tariff, AD/CVD Speculation No Concern for NextEra
2024-04-24 - NextEra Energy CEO John Ketchum addressed speculation regarding solar panel tariffs and antidumping and countervailing duties on its latest earnings call.
NextEra Energy Dials Up Solar as Power Demand Grows
2024-04-23 - NextEra’s renewable energy arm added about 2,765 megawatts to its backlog in first-quarter 2024, marking its second-best quarter for renewables — and the best for solar and storage origination.
BCCK, Vision RNG Enter Clean Energy Partnership
2024-04-23 - BCCK will deliver two of its NiTech Single Tower Nitrogen Rejection Units (NRU) and amine systems to Vision RNG’s landfill gas processing sites in Seneca and Perry counties, Ohio.