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Sydnee Gatewood
Sydnee Gatewood
Articles (3566) 

Royce Investment Partners Comments on TGS-NOPEC Geophysical

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February 17, 2021 | About:
We had less confidence in the long-term prospects for Norway's TGS-NOPEC Geophysical (OSL:TGS), which we exited in October. The company provides geophysical marine seismic data to oil exploration companies and was the second-largest detractor on a position basis. While we like TGS-NOPEC's business model, we believe that structural changes in oil & gas exploration, as well as secular shifts toward cleaner energy, will ultimately reduce its long-term growth and consequently the rate at which it can compound value.

From Chuck Royce (Trades, Portfolio)'s Royce Investment Partners Premier Fund fourth-quarter 2020 manager commentary.

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