Thoughts?
10 replies (most recent on top)
PGS filed for chapter 11 in 2003. Did they go bust ? - oh , no , they didn't .
Veritas DGC came very close to chapter 11 many years ago. What happened to them ?
Pay attention please.
It's finally happening. Financial restructure = bankruptcy. Creditors won't be happy.
http://www.rigzone.com/news/oil_gas/a/147996/CGG_Looks_to_Achieve_Financial_Restructuring
It's finally happening. Financial restructure = bankruptcy. Creditors won't be happy.
Interesting article
http://www.offshoreenergytoday.com/cgg-eyes-financial-restructuring-amid-high-debts/
That is Good for everyone still in seismic exploration business.
Interesting article:
http://seekingalpha.com/article/4027447-cgg-good-9m-may-2017-yes-course-20-percent-ytm
Will there be any money available for another round of redundancies?
CGG Will seek Chapter 11 soon.
Could they get help from the French government?
Unless there is a dramatic increase in the price of oil in 2017 I would suggest CGG will not survive.