Deutsche Bank today announced its appointment as the successor depositary bank for the Level I American Depositary Receipt (ADR) program of Petroleum Geo-Services ASA (PGS).
PGS is a focused marine geophysical company providing a broad range of seismic and reservoir services, including acquisition, processing, interpretation, and field evaluation. The Company’s MultiClient data library is among the largest in the seismic industry, with modern 3D coverage in all significant offshore hydrocarbon provinces of the world. PGS operates on a worldwide basis with headquarters at Lysaker (Oslo) Norway, and with other regional centers in London, Houston and Singapore. The PGS share is listed on the Oslo stock exchange (OSE: PGS).*
Edwin Reyes, Head of Depositary Receipts at Deutsche Bank, said, “We welcome PGS to our depositary receipts platform. This notable mandate demonstrates Deutsche Bank’s commitment to Norway and we are pleased to utilize our broad range of customized services to assist PGS in enhancing the visibility of its ADR program with the investor community."
*Source: Petroleum Geo-Services ASA (March 2013)