Thread regarding CGG Veritas layoffs


I have been hearing rumours of a merger with one of the other remaining players. Anyone heard anything similar?

by | Post ID: @T475R4P
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by | Post ID: @T475R4P-bins

One of them previously own western geophysical prior to selling to schlumberger to form the merged westerngeco. Would make no sense to go backwards, buy cgg and start again.

It would also be out of kilter with Schlumberger who they emulate.

by | Post ID: @T475R4P-1cqv

Yes, some rumblings here in Houston. Hearing Baker Hughes and Halliburton in efforts to boost their capabilities in reservoir description/modeling/management. And to get senior decision maker access in certain countries in africa and the middle east

by | Post ID: @T475R4P-1rcx

CGG are vulnerable to take over.

Schlumberger want out of seismic - No

Shearwater and are too small and have many ex CGG employees - No

PGS are struggling and are the last large player - possible tie up to create one mega player and control the market, with SLB withdrawal it is the best opportunity anyone has had to be dominant in the seismic market.

Polarcus - have boats and little processing, CGG have processing (actually ex Veritas processing which was good, CGG's was primitive and ditched after Geovation 1.0) - possible and would return CGG back to market dominance.

TGS - business model does not require CGG

Then there are a number of other small players Ion, spectrum, that Aussie company,..., where a merger would mean they loose their identity within the larger CGG and gain debt.

Don't get it really. Any solutions anyone


by | Post ID: @T475R4P-fwr

I suppose if CGG could find anyone to merge with right now, it could be a good thing.... unlike the disastrous (for CGG) takeover of Wavefield and to a slightly lesser extent Fugro.

by | Post ID: @T475R4P-zjv

Surely a merger or takeover is the ultimate fate for CGG? Another opportunity to consolidate assets and adapt to the new reality facing the seismic market??

by | Post ID: @T475R4P-auh

Who would want to merge with CGG at this point?

by | Post ID: @T475R4P-lzx

i know nothing

by | Post ID: @T475R4P-eti

What exactly have you heard? If you don't have any evidence to support your claim, then keep please do not post.

by | Post ID: @T475R4P-ito

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