CGG SA acquires large BroadSeis/BroadSource 3D multi-client survey in Norway CGG announced that it has started acquiring a large BroadSeis/BroadSource 3D multi-client survey in the Northern North Sea offshore Norway. The Horda survey will be the largest broadband multi-client program CGG has acquired in NW Europe as well as the largest multi-client 3D survey ever shot by any company in Norway. The survey is being acquired by the Viking Vanquish, and a second vessel will join later in the season. The acquisition program will continue in 2015. Following several recent discoveries the greater Horda area has become an area of high exploration activity. The survey program's main objective is to provide a large, uniform dataset with increased seismic resolution which will offer a platform to improve industry understanding of the regional geology. The survey has received high prefunding from the industry. Early participants have had the option to recommend priority areas and will also be invited to monitor the data processing which will be conducted in CGG's Oslo subsurface imaging center.
On The Fly: Analyst Downgrade Summary Today's noteworthy downgrades include: Akamai (AKAM) downgraded to Market Perform from Outperform at Wells Fargo... CGG SA (CGG) downgraded to Reduce from Neutral at Nomura... Central Valley Community (CVCY) downgraded to Hold from Buy at Sandler O'Neill... DSM (RDSMY) downgraded to Neutral from Buy at Nomura... Disney (DIS) downgraded at Guggenheim... Francesca's (FRAN) downgraded to Underperform from Outperform at Macquarie... Netflix (NFLX) downgraded to Fair Value from Buy at CRT Capital... Nordstrom (JWN) downgraded to Neutral from Outperform at Macquarie... Norfolk Southern (NSC) downgraded at Credit Suisse... Rio Tinto (RIO) downgraded to Market Perform at Cowen... Seadrill (SDRL) downgraded to Reduce from Neutral at Nomura... Ternium (TX) downgraded to Neutral from Overweight at JPMorgan... Urban Outfitters (URBN) downgraded to Neutral from Outperform at Macquarie... Viacom (VIAB) downgraded at BofA/Merrill... eBay (EBAY) downgraded to Underperform from Buy at CLSA... lululemon (LULU) downgraded to Underperform from Neutral at Macquarie.