Seismic players Petroleum Geo-Services (PGS) and TGS both saw revenues drop in the first quarter, but said market conditions are set to improve later on in the year.
Segment revenues at PGS fell to about $142 million in the first quarter from $197.8 million a year earlier, giving segment earnings before interest, taxes, depreciation and amortisation of about $65 million for the period, the company said, citing preliminary figures.
