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OFS - CGG sees backlog climb despite shutting down acquisition units - March 2020

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Paris-based geosciences firm CGG said its backlog was $537 million at the end of February, up 34% YOY. The higher backlog comes even after it shut down its marine and land acquisition businesses in Q1 to become an asset-light “people, data and technology” company. “We have solid backlog, a strong balance sheet and are prepared to weather the current volatile market environment,” CEO Sophie Zurquiyah said. “We have flexibility to adapt our plans and......
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