Good morning, and welcome to the presentation of TGS Q2 2026 results. My name is Bård Stenberg, Vice President, Investor Relations and Business Intelligence in TGS. Today's presentation will be given by CEO Kristian Johansen and CFO Sven Børre Larsen. Before we start, I would like to draw your attention to the cautionary statement showing on the screen and available in today's presentation and earnings release. After management's concluding remarks, we will open up for questions from the audience. You can start by typing in questions on the webcast platform during the presentation. With that, I give the word to you, Kristian. Thank you, Bård. I'll start with the highlights for Q2. We had revenues as announced on the sixth business day of $400 million. They're up 30% year-on-year. It's driven by a very strong multi-client quarter. Our EBITDA came in at $244 million. That corresponds to a 61% EBITDA margin, well in line with the historical averages of TGS. We had a Q2 EBIT of $120 million. That corresponds to a 30% EBIT margin. I'm particularly pleased about the streamer utilization. Came in at 94%. It's the highest streamer utilization we've had since Q3 of 2013. This is clear evidence of the fact that the model works. The integrated model where we can shift capacity between multi-client and contract really seems to be working. This is up considerably from the same quarter of last year, as you remember. We also had a very strong order inflow. We had $377 million of new orders signed during the quarter. That means that our total order backlog at the end of Q2 is about $756 million, which is in line with what you saw at the end of Q1. A very strong backlog, which tees up TGS for the future and future growth. We're also maintaining our quarterly dividend of $0.155 per share, in line with what we've done for quite a few quarters now. Last but not least, after the quarter end, we managed to sell our North American Well Data business, which again further strengthens our balance sheet and also positions TGS well to get into that guided comfort zone of $250 million-$350 million of net debt, which at the time we get there, we will obviously have a discussion with the board on additional shareholder distribution. Overall, a strong quarter and a relatively positive outlook for TGS, which we will go through in the next couple of slides. In terms of the business update and the data acquisition activity, as I said, we had a record strong utilization this quarter. You can really see this by this slide, where you see significant OBN activity in the U.S. Gulf of America, both multi-client and contract. You see the same picture in Norway, where we have a streamer vessel and an OBN crew. You see four multi-client surveys in the South Atlantic margin on both sides, both Brazil and also West Africa. In addition to that, you see one vessel in Indonesia, which is on a long-term contract with a super major. In terms of our multi-client update, as I said, we had a strong multi-client quarter. You see external revenues of $284 million in Q2 this year. That's more than twice of what we had in Q2 of 2025, and as you remember, that was a rather weak quarter for multi-client. I'm particularly pleased to see that multi-client came back and managed significant growth in Q2 of 2026. We had high investments in the quarter, $168 million versus $114 in Q2 of 2025. As you will see, we have guided $550 million of multi-client investments for the full year. It means that you will see that investments will be lower in the second half of the year than they were in the first half of the year. Very much in line with our strategy, where we're going to shift some of the capacity back from multi-client to contract based on the current vessel and OBN schedule. We had a sales to investment last four quarters, so last 12 months of about 1.7. You can notice that that number is slightly down from what we had four quarters leading up to Q2 of 2025. This is obviously due to higher investments and the short-term impact of investing more. I think when you see investments taper off towards the second half of the year, you will see that number hopefully will come up as well. In terms of the activity summary, we had two multi-client projects offshore Brazil. They're both in the Pelotas Basin, both Sul and Norte. These are heavily pre-funded projects in a very exciting basin. Number two, we had a multi-client campaign in West Africa with two vessels. We had the Nigeria Laide multi-client 3D survey. We also had a 2D survey offshore Angola, which is also a very important strategic basin for TGS to operate. We also completed the APEX 1 Ocean Bottom Node project in the Gulf of America. This is a dense node grid, where we don't have reliance on underlying streamer data, thanks to newly developed technology between acquisition and data processing. Interesting thing with that is that it opens up new markets for TGS and also markets where you don't have a lot of underlying data. You can still go out and acquire OBN for exploration purposes. We commenced the Aasta Hansteen project in Norway. It's a multi-client 3D streamer in the North Sea, also in Q2. In terms of new announcements for multi-client, we were awarded exclusive right for acquisition of multi-client data offshore Brunei. In addition to that, we also announced an agreement with Equatorial Guinea to create an offshore MegaSurvey, which for those of you who have followed TGS for a while, you know that we've done some of these MegaSurveys in West Africa. They've turned out to be very successful. First phase of this project includes about 27,000 km of 2D in addition to 35,000 sq km of 3D data. Very good quarter for multi-client. Very excited about the outlook for multi-client as well. As I said, we are going to invest less in the second half, which is hopefully going to have a positive impact on sales to investment and free cash flow, very much in line with the plans that we laid out before the year. On the Marine Data Acquisition, we had external revenues of $98 million, they're down from $145 million in the same quarter of last year. You see the internal production, so basically the multi-client programs that we are acquiring with our own fleet and capacity, they're up from $70 million to $142 million. Overall, that means that our total revenues grew from $215 million to $240 million for the Marine Data Acquisition business. The EBITDA margin is slightly down, you should be aware that internal production, we don't apply any margins for internal works. That means the entire EBITDA margin of 21% is on the external revenues of $98 million. If you adjust for that, you will see that we have healthy profitability also in our Marine Data Acquisition business. In terms of activities, on the streamer side, we continued working on a large contract for a super major in Indonesia, as you saw on a previous slide. In addition to that, we commenced contracts both offshore Norway and Angola. On the OBN side, we commenced a large OBN contract in the Gulf of America, in addition to having a node on a rope crew fully utilized on multiple projects in the North Sea this quarter. Contract awards, we were awarded a large 4D streamer contract offshore Angola that is a eight months duration contract. In addition to awarded an extension to a multi-year OBN contract in the Gulf of America with a super major that we have worked for a number of years in the Gulf of America. We have exclusivity to continue to acquire OBN data in that same basin for the same customer. A great testimony to our technology, to our service quality, et cetera, on the OBN side, where we tend to have a very dominating position in the U.S. Gulf of America. On the imaging and technology, starting with the financials in the lower left-hand corner. We had external revenues of $14 million, that's down from $19 million, very similar to the Marine Data Acquisition business. We have higher internal production, we're shifting capacity from external revenues to internal production. You see revenues growing from $12 million to $18 million, which means that total revenues pretty much stayed flat from last year. As you remember, last year was a substantial growth from 2024. We're pretty much running at full capacity on our imaging centers right now. Our EBITDA margin, same explanation as to the previous slide. They're dropping from 40% to 24%, keep in mind that the majority of revenues are more than 50% of revenues came from internal production with zero margin. The entire EBITDA is being generated by external revenues. Strong capacity utilization at all centers, as I said. We have an overweight of resources allocated to internal production this quarter. That may change in the future. Again, this goes back to the strategy of being able to shift capacity between multi-client and contract as we see demand and as we see the timing of projects, which is a great advantage that TGS has, and very much in line with the strategy that we laid out with the acquisition of PGS a while ago. We expect continued activity growth for imaging in 2026 and also going into 2027. In terms of technology developments, we have announced a strategic collaboration with a company called Allton to simplify deployment and recovery of ocean bottom nodes. In addition to that, we also announced an acquisition of a company called Apparition which is a step change improvement in operational efficiency on the seismic source side, and also on subsurface image clarity. Which leads me to the next slide. This is Apparition, and this is the acquisition in highlights. The acquisition of Apparition secure TGS access to proprietary simultaneous source acquisition and separation technology. What it basically means is that you can tow more sources and get away with fewer streamers, so it increases the productivity and operational efficiency by up to 30%. This is a technology that TGS has tested together with a Gemini source for the last two years, very pleased to close in on that acquisition, which means that we fulfill our ambition by having technology leading tools and gadgets from A to Z both on the acquisition side, but also on the data processing side. It sort of fills the last hole in our technology suite for the acquisition side. Last but not least, we also announced the sale of the North American Well Data business. This is a business that is probably less known to most of you, but it's an acquisition that TGS made back in the early 2000s. It's been a tremendous success. We've had a good cash flow business for a number of years, but what we've seen is that it's been a lack of growth, and we've actually seen some decline in growth over the past few years. Margins of the business are pretty good. We're very pleased about being able to sell this business for a good price at good multiples. Enverus paid about $100 million upfront for the Well Data business, in addition to that, there's $15 million in earn-outs that are conditioned on certain milestones. This really goes back to the strategy, sharpening our focus on integrated offshore technology offering, probably going heavier offshore than onshore given the current market dynamics. We think offshore offers greater growth opportunities versus onshore today, it's really about executing on the portfolio optimization, capital discipline, and again, providing you as shareholders with an accelerated path to higher shareholder distribution for the future. With that, I'm pleased about the quarter. It's been a very hectic quarter in terms of making two M&A transactions in Q2, growing revenues by more than 30% compared to last year, again, showing a strong backlog and order inflow during Q2. Very pleased about that. Sven is now going to go through the financials and give you more details about that, then I will come back and talk about the outlook for TGS for the remainder of the year, and also for the future. Thank you very much. Thank you for that, Kristian, and good morning to you all. I will start with going through the net revenues by nature for the second quarter of 2026. If we turn to page 12, you'll see that we had multi-client revenues of $250 million in total in the quarter. This was largely, of course, generated by our multi-client business unit with $247 million, while other businesses generated $3 million of multi-client revenues in this particular quarter. If you look at the contract revenues on the right-hand side of the page, you'll see that we had $151 million in total contract revenues in the quarter. This was generated by multi-client business unit with $37 million. You may think that it's strange that our multi-client business generates a lot of contract revenue, but that has to do with joint venture projects that the multi-client business units enters into with respect to projects. If we get a partner in on a multi-client project who's paying for 50% or 33% of the cost, that will be booked as contract revenue in the multi-client business unit. The Marine Data Acquisition business unit, MDA, had contract revenues of $98 million. Our imaging business had external contract revenue of $14 million, and other businesses had $2 million. Turning to the next page, looking at our produced segment numbers. The multi-client business unit generated $247 million of multi-client licensing revenues, and as I said, $37 million of JV revenues or contract revenues, which led to a total revenue of $284 million for the multi-client business unit. The EBITDA margin, strong as always in multi-client, $253 million. This compares to Q2 of last year, when we had $132 million of multi-client licensing revenue and only $5 million of joint venture contract revenues, which gave a total of $137 million in revenues and an EBITDA of $126 million. Looking at multi-client investments for this quarter, we continue to invest a lot in our multi-client library, $168 million this quarter, almost the same as we had in Q1, and significantly higher than what we saw in the same period of last year with $114 million. Looking at the MDA business, it had $98 million of external revenues and $142 million of internal production. This is obviously a reflection that we are doing a lot of multi-client for the time being. As you can see from the bar charts in a historical perspective, we keep a very high activity level in our data acquisition business. EBITDA came in at $50 million, compared to $53 million in the same quarter of last year. Bear in mind that, as Kristian already alluded to, the internal production or the internal revenue is basically charged with a 0% margin, which means that when we are doing a lot of internal multi-client work instead of working for external customers, that will impair the margin for the MDA business unit. Looking at the imaging business unit on the bottom right-hand corner, we had $14 million of external revenue for the imaging business and $18 million of internal production. Again, we are doing a lot of multi-client projects currently, which is also reflected in the imaging business unit. EBITDA was $8 million in this quarter. Looking at the group financials. The revenues that I've gone through now gave a total of $400 million. That was made up by $250 million of multi-client revenue and $151 million of contract revenue. This compared to $308 million in the same quarter of last year, which consisted of $136 million of multi-client revenue and $172 million of contract revenue. Looking at our net operating expenses in Q2, ended up at $156 million after capitalizing $111 million on internal work. This means that gross operating expenses were $267 million in the quarter. In the first half of 2026, we have experienced that gross operating expenses have been a bit higher than what we originally expected, and that has mainly to do with three factors. Number one, we have had a higher activity level in our Marine Data Acquisition business than anticipated. We've had a record high utilization on our streamer fleet and also somewhat higher activity level on the OBN side than we originally anticipated. We have had a different geographical mix than we had when we originally gave the cost guidance, which means that we have been working more in high-cost countries, and we have had more cost flowing through our accounts. We have also experienced some higher fuel prices, which has been related, of course, to the high oil price we've seen during the first half of the year. These higher costs have largely been mitigated by higher revenue. It hasn't hurt EBIT to the same extent as the cost increase should suggest. For the second half of the year, we expect cost to go back to the annualized run rate of $950 million as we originally guided for this year, possibly with a bit higher in Q3 and a bit lower in Q4. It means that in total for the year, the gross operating expenses will be somewhat higher than the original full-year guidance of $950 million. Looking at depreciation and amortization, we had depreciation of $36 million in this quarter compared to $65 million in the same quarter of last year. The low net depreciation number is a reflection of the high multi-client activity because we're capitalizing a larger portion of the depreciation of our assets when we're using them for multi-client projects. Straight-line amortization remains fairly stable, $54 million in this quarter. We had $34 million of accelerated amortization, which is largely related to ongoing multi-client projects. This gave a total EBIT of $120 million in the quarter, a margin of 30%. This compares to a loss of $22 million in the same quarter of last year. The margin of 30%, as you can see, is also quite strong compared to both Q1 and Q4 of last year and Q3 of last year. We're quite happy with the EBIT development for the group. Looking at the profit and loss account. We had total revenues of $400 million that I've gone through. Cost of sales, $72 million. Personnel cost, $57 million. Other operating expenses of $28 million, which gave an EBITDA of $244 million compared to $153 million in the same quarter of last year. Subtracting straight-line amortization of $54 million, accelerated amortization of $33 million, we had a smaller impairment of $2 million and net depreciation of $36 million. This gave, as I said, an EBIT of $120 million compared to the $22 million of loss of last year. Financial income, $2 million. Financial expenses of $13 million and exchange losses of $2.4 million gave a profit before taxes of $107 million for the quarter, compared to a loss of $48 million in the same quarter of last year. Looking at cash flow, this is the produced cash flow, so it's linked to the produced EBITDA that we present. The EBITDA was $244 million in the quarter. We paid a bit of taxes, $12 million. You can see we have negative $78 million in change of balance sheet items, which is essentially net working capital on a produced basis. We had a big negative contribution from working capital in this particular quarter. As you may recall, we had a quite positive impact in Q1. It's quite normal that we see a negative impact in working capital in a Q2 from a seasonal perspective. It's typically a result of, number one, that we typically have fairly low or reasonably lower multi-client sales in Q1 that is being collected in Q2. Number two, that we are in the startup phase of a lot of projects for the summer season, the data acquisition summer season in the northern hemisphere. It's quite normal that there is a significant negative contribution from working capital in Q2, although in this particular Q2 it was probably more negative than normal. We had paid multi-client investments after removing the non-cash elements and also adjusting for multi-client investments that were capitalized in other periods of $148 million. We had CapEx of $24 million, we had a small M&A investment in this company Apparition Geoservices, as Kristian talked about, and a bit of interest received, which meant that we had cash flow from investment activities negative by $173 million. We had a net change in interest-bearing debt and leasing of $2 million We paid interest of $5 million, we paid dividends of $31 million, which gave a negative cash flow from financing activities of $37 million, which in total gave a negative net cash flow of $56 million in the quarter. Looking forward to Q3 and Q4, we expect to see a much more positive cash flow in the second half of the year, although we will see some headwind from working capital also in Q3. Again, it has to do with seasonal factors and that we are shifting to different projects now in the very late part of Q2 and Q3. A lot of that revenue won't be collected until early Q4. We expect a quite strong cash flow in the second half as a whole with somewhat weaker in Q3 and quite strong in Q4. Looking at the balance sheet, I will not go into a whole lot of detail on the balance sheet other than noting that the balance sheet remains very strong. Due to the negative cash flow, we had an increase in net debt to $503 million towards the end of Q2. If you adjust for the Well Data Products transaction, we're just about $400 million on a pro forma basis at the end of Q2. With strong cash flow expected for the second half of the year, at this stage, we would expect to be within our target range of $250 million-$350 million towards the end of the year. This strong balance sheet allows us to continue to pay dividends, the board has resolved to maintain the quarterly dividend at $0.155 per share. The ex-date is a week from now on the 30th of July, and the payment date will be on the 13th of August. As I said, we expect to come into the guided range of $250 million-$350 million in the not too distant future. That's the point in time when you should expect us to start increasing shareholder distribution. With that, I'll hand the word back to Kristian, who will take you through the outlook section of the presentation. Thank you very much, Sven. The first slide we're showing here is just repeating the same message as we did in Q1. I think if anything, this message has been further confirmed by our strong numbers in Q2. I'm just going to repeat the highlights of this. Number one, peak oil has been extended by more than 20 years. The reason why this is really critical for exploration activity is that if you go back two years and you look at the peak oil estimates of between 2030 and 2032, it was really hard to make a strong case for exploration. If you think that overall demand is going to taper down or taper off after 2030, and you know that from the time you buy seismic until you're in production could be between five and 10 years, there's not really a strong case for increased seismic spending and exploration spending. That has, however, changed dramatically over the past six months, I would say, and I think most people would agree now that peak oil is not going to happen anytime soon. Most experts would say that it's not going to happen until after 2050. That provides a very good background and a very good tee up for exploration spending for the future. We think a lot of our clients are now going back to their drawing boards in terms of rethinking their strategies, in terms of how can they renew their reserves and make sure that they extend the reserve life as the peak oil has been extended by more than 20 years. Second point, reserve life continues to decline. This is rather obvious. If you look at the super majors today, most of them have a reserve life of between six and nine years. Obviously, that sounds like a lot, but if peak oil is sometime after 2050, it puts a lot of pressure on these companies to continue to invest in their business, increase their reserve life, and some of them are doing that through M&A. We believe that some of that will shift back to exploration spending. We will see a new cycle in exploration, potentially starting in 2027. This is not going to change overnight. We all know that super majors and IOCs and any other E&P company, they set their budgets back in October or November last year. At the time, the oil price started with a five, so it was in the 50s. We expected it to be even lower turning into 2026. That has obviously not turned out to be true. We've actually seen renewed focus on energy security. We've seen higher geopolitical risk. We see a very unstable situation now in the Middle East. We see the same in Russia, Ukraine, which means that a lot of the oil in today's market is sort of trapped. There may be short-term solutions to that. There is no long-term solution to geopolitical risk, which means that E&P companies will have to diversify their portfolios. They need to look for oil elsewhere in the world. That is going to be one of the triggers to a new exploration cycle. Point number four here is quite interesting in terms of investor sentiment is changing. It used to be the way that if an oil company announced a new discovery, their share price would either stay flat or it would actually go down because of the CapEx requirements related to some of these discoveries. That is not the case anymore. We finally see that Wall Street is putting value on exploration. We actually see Goldman Sachs just published a report where they're saying that oil companies who reinvest in their own business are, in general, priced at higher multiples than companies who pay out all their cash flow in dividends. Another very positive sign and another reason why we think that exploration spending will see a recovery and growth from 2027. Number five here. This is quite interesting. If you look at the yellow circles on the map, you see discoveries that have been announced on a global basis in 2026. There is a couple of takeaways from that. Number one, it's actually been pretty decent in terms of exploration success. We know that exploration success drives exploration spending. That's good. The second point on that is that if you look underneath the yellow circles, you see that there is basically TGS data everywhere, which means that TGS data is being used to find new oil and gas. That means that our portfolio is very well positioned for a new exploration upcycle. If you go to the next slide, this is showing the offshore acreage awards from 2020 to 2025. On the lower left-hand corner, it shows the offshore exploration wells. You see that there is no correlation between the two. Over time, there should be correlation because if you pick up more acreage, it is eventually going to drive more exploration spending. It is going to drive a higher number of wells. It is going to drive higher spending on seismic. We haven't seen that yet. What we've seen and what you can see from the upper left-hand corner bar chart is that we see a sharp increase in offshore acreage awards, meaning that our customers go out and they capture a lot of acreage, and they don't do that for fun. They capture the acreage because they want to drill eventually, and they want to buy the seismic to understand the potential of that acreage. We think there is a time lag here, but we think this is a really good leading indicator of stronger and higher exploration spending for the future. If you look at 3D streamer contract tenders, yes, there is a positive trend recently, but there is a reason why we don't show this slide every quarter. It is extremely volatile. It is really hard to get a good grasp on what it actually shows. Yes, it is pointing in the positive direction. There are a few caveats to this. Number one, multi-client is not part of it. As you know and as you saw in Q2, multi-client is actually the majority of our 3D streamer activity. I wouldn't read too much into it, but it is always good to see the line pointing in the right direction in terms of contract tendering activity. The reason why it is up now recently is mainly driven by tendering activity in the Asia Pacific region. Again, that could turn down again next quarter or two quarters later. Keep in mind that multi-client is not part of this and the majority of what we did in Q2 was multi-client, and these are projects that are very much driven by TGS rather than driven by the client. There are signs of improving streamer and OBN activity. I will point to the upper bar chart first. You look at contract vessel months and bids not won and how the outlook for 2026 streamer market looks. Right now, we think, number one, it has declined by almost 50% from 2019 to 2025. Based on what we see in the market right now, what we have or the industry has booked about 75% of the expected capacity, we think it is going to be slightly up in 2026 versus 2025. Obviously the macro data is pointing in the right direction in terms of supporting also continued growth in 2027 in terms of the streamer vessel market. On the OBN side, sales cycles are longer on the OBN side than on the streamer side. We actually, as it looks right now, we expect 2026 activity to be slightly down from 2025, you see that from TGS's numbers as well. We've seen a pickup in terms of tender activity for programs for 2027, we're still quite optimistic in terms of seeing growth in the OBN market in 2027 versus 2026. What we see right now, and the sales cycles are pretty long, is that 2026 may be slightly lower than 2025. The markets are different in terms of on the streamer side, there's basically two players. On the OBN side, you have five players or five-plus, it's a more fragmented supply side, driven by very poor discipline in the past 12 or 18 months. We've seen some positive signs in that regard too, where we see some of the smaller players who probably burnt their fingers a little bit on big projects that have been picked up at very low margins. We think right now the pricing is probably slightly better than what you've seen in the last 12 to 18 months. We talked about the strong order inflow in the quarter. You see we had an order inflow that is pretty close to what we had in Q1 of 2026, following a very strong Q4 and Q3. Overall, the last four quarters have been very strong in terms of signing new orders. As a result, you see a stable order backlog at around $750 million-$800 million, which obviously tees us up really well in terms of continuing to grow the business going forward. Very pleased that we can come back quarter after quarter and show strong order inflow and backlog. On the right-hand side, we show the expected timing of the Marine Data Acquisition backlog and revenue recognition of that, it can help you build your models in terms of estimating the next couple of quarters' activity on the data acquisition side. We're also showing booked positions. These are not necessarily the same as backlog. This is more like what we have booked internally, where we have booked our vessels and the OBN crews, and it also helps for you to build your models and to estimate the activity level for the near term. Here we're showing Q3 and Q4. You see the composition of streamer contracts, streamer multi-client, and then obviously there is some planned steaming and yard stays. On the OBN side, you see the normalized crew count that we have booked internally now for the next two quarters. I'm not going to touch on the details on that, but it's for your information, and it obviously provides you some information in terms of building your own models. Vessel utilization has been very strong in Q2. I highlighted this as one of the highlights of the quarter. We're super pleased about the ability to move vessels and OBN crews and shifting from multi-client to contract, and it obviously reduces the downtime, which is very expensive, particularly on the streamer side. We've improved our internal routines, our internal processes and procedures, and very pleased to see such a strong utilization in Q2. In Q3, we expect it to continue to be very strong. We're saying to 85%, which is pretty much as high as it gets. I think 94%, as we said earlier today, is as high as it's been since 2013. Even 85 is a really good number, so very pleased about that. In terms of the guidance, I think we've been through this already. On the multi-client side, we narrow the range. We had a range of $525 million-$575 million. Our new number is approximately $550 million, so pretty much in the middle of the range. It's still supported by strong customer commitments. We have good funding for all our multi-client programs that we do, and in that regard very positive development on that. CapEx is going to be pretty much the same level as in 2025, and we see that we're tracking pretty much according to that right now. On the gross operating cost, as Sven talked about that, yes, we had higher costs, partly due to the business mix in Q1 and Q2. For the rest of the year, we're planning to be pretty much in line with the annual run rate that we have guided of about $950 million. On utilization, again, we see significant increase in streamer vessel utilization, partly driven by higher multi-client activity. Again, as I mentioned previously, we're probably going to see, or we are going to see a shift from multi-client to more contract in Q3. These are contracts that are already booked, of course. On the OBN side, we expect to average about two normalized crew counts for 2026. Again, we've already mentioned that our comfort zone in terms of long-term net debt target is $250 million-$350 million. We think we're going to be there in the not too distant future, as Sven said. Pretty soon you will see that we will get into that range, hopefully, and then we will discuss shareholder distribution with our board, whether that's going to be dividend or share buybacks and what we do with the balance sheet going forward. I'm probably going to talk more about that at the Q3 presentation later this fall. In summary, EBITDA and EBIT margins of 61% and 30% respectively. Very pleased about the profitability. Yes, cost was slightly higher this quarter, partly due to the business mix, but very pleased about the revenues and overall pleased with margins that stack well up against the historical averages. We talked about the streamer vessel utilizations. Again, 94%, the strongest it's been since 2013. Keep on having high order inflow, which is a good sign that the market is developing in a positive direction, which means that our backlog is substantially higher than it was about a year ago. We're strengthening the acquisition technology portfolio through the acquisition of Apparition. We're maintaining a quarterly dividend in line with previous quarters. Last but not least, after quarter end, we divested our North American Well Data business, which again further strengthens our already strong balance sheet. With that, I want to say thank you for the attention. I want to open up for Q&A and hand it over to Bård, please. Thank you, Kristian. We have a couple of questions from the people on the webcast already. We can start with a question from John Olaisen in ABG. How is the outlook for the vessel utilization over the normally softer winter season? Also, could you comment on your expectations of second half multi-client late sales, please? I think the vessel utilization, we see a positive trend. I think obviously if you compare Q2 this year compared to Q2 last year is a different world. We are constantly working on signing up new opportunities. Obviously, the winter season is always a bit more challenging. I think Q2 and Q3, you would normally see very high utilization. It's a bit early to comment specifically on that. I think overall, when you look at the macro drivers, I think we're quite optimistic. We think it will gradually improve, we're working 24/7 now with securing backlog for the winter season. Probably going to talk more about that at the next quarter. The sales cycles are probably between three and six months for most of the streamer work and slightly longer for OBN. We still have some time for the streamer backlog to be signed. Commenting on late sales for Q2. Second half. Late sales second half of the year. It was fairly strong. I think we came in slightly higher than we expected and probably than most analysts expected. It was a good quarter in that regard. I think late sales, again, we're pleased about that. I'm sure there's going to be a question on transactions from, or transfer fees or revenues generated by M&A activity and yes, we had some of that, but it wasn't substantial this quarter. There were some M&A related fees as well. We're not talking tens of millions of dollars in that regard. John Olaisen has another question. That's probably to you, Sven Børre. In Q1, you commented that you had experienced delays in finalizing pre-funding commitments for a survey in Brazil. Has this pre-funding commitment now been closed? I can answer that question. The answer is that it has been closed. We said last quarter that we hope to have it signed sometime in late Q2 or early Q3, it happened in Q2, obviously pleased about that. We've closed that. We've signed the deal with the client. We haven't received the cash yet, obviously that's going to happen in early Q3. Next question comes from Kévin Roger in Kepler Cheuvreux. Can you give a sense on what has been the pre-funding rate in Q2? Your expectations for the full year? Yeah, we don't report that, we don't disclose that in detail. I think overall it's been pretty good. It was a bit lower in the last quarter, and we talked about that one contract where we had a delayed signature by one of our key clients, and this is a big project in Brazil, of course, that has now been signed up. I think overall we're pleased about the pre-funding level. We don't feel like we're taking a lot of risk. A lot of the multi-client activity that we have is in very proven basins. There is probably less frontier. I hope to see more frontier going into 2027 in line with a more positive market development. I'm overall very pleased about the pre-funding, but we don't disclose that number specifically. We have a question from an investor. To what degree have you seen data purchases associated with customers' decision to take the higher level on new offshore acreage, both into the awards and also post the awards? Yeah, it's a very good question. I would say that when you look at the acreage awards in 2025 and also leading into 2026, they've been record high. We haven't seen a lot of seismic activity beforehand. Typically back in the day, so 10 years ago and in the previous peak, you would see a lot of seismic activity followed by acreage awards, then you would do drilling. What we're seeing now is a slight change into that. We see that our clients can go in and negotiate deals directly with governments without going into or going through licensing rounds. They basically negotiate exclusively with governments. In order to do that, you don't need to buy a lot of seismic. If you don't pay for the acreage or if you don't pay a lot for the acreage, you probably don't want to buy a lot of seismic beforehand. You want to use your existing seismic. Of course, if you're going to take it to the next step and you're going to start drilling, you would need all the seismic you can get. There is probably change in that regard in terms so you will see higher sales after acreage grab than before acreage grab. That's probably the greatest difference that I see now compared to 10 years ago in this business. There's a fewer number of licensing rounds, there are more direct awards, and that is probably going to change as governments are getting more confident that the acreage they have is competitive, and at that point, they will probably kick off licensing rounds again. We've seen some examples of that recently, but again, there's been a lot of direct awards where you don't necessarily buy the seismic beforehand. We have another question from the same investor. Can you please share how pricing for the contract business and pre-funding ratios for the multi-client business has developed recently? Yeah, I think pricing on the streamer side has been fairly flat. We're not pleased about where it sits at current. We're trying to make sure that we stay disciplined, and I think we have been. We've seen a couple of recent awards that we didn't win, and data shows that we were pretty far off. There are some goods and bads related to that. It's always good to get a confirmation that you're disciplined, but it's never good to see that competitors are underpricing you by 15%-20%. That's not a good sign for the industry as a whole. I think they're satisfactory. We can still make a positive return on capital on that, but it's not great, and that's one of the things that we expect to see coming up in a better market and a better market environment, which we expect to see in 2027. A follow-up from the same investor. Can you highlight the main new data projects that will be available for multi-client sales for the second half of 2026 and going into 2027? I don't want to disclose that specifically. I think what you need to do is go in and look at press releases and go in and look at surveys that we have completed over the past 12 to 18 months. Typically, there's a little bit of lag to that because you need to process the data, and that could take anything from two to six or even eight months. That's when the projects become available. You can still license data even if you've not completed your data processing. It's not necessarily a key trigger. We have a question from a private investor. Which geographies do you see as holding the most potential for acquisition? Are there any significant projects being tendered? I think the most promising areas right now, they all sit in the South Atlantic area with Brazil, with Angola, Nigeria. There's a lot of interesting project being developed and even tendered in that region, both sides of the margin. India is picking up a lot. There are big programs being planned and even awarded in India as we speak. That's going to take a lot of vessel capacity for the next 12 to 24 months. Then you have the usual suspects, mainly on the OBN side with obviously U.S. Gulf of America and Norway, which is more of a seasonal basin in that regard. I think there's a lot of the same. I think the highest growth right now, Brazil keeps delivering. I think West Africa, you see great potential in terms of growth. Particularly, we already see that in 2026. I think that's going to even strengthen in 2027. We have another question from Kévin Roger in Kepler Cheuvreux. I'm going to address this in this presentation, he wanted to be reminded regarding the reason for much better cash flow generation in second half versus first half. You can just look at the balance sheet and there are $78 million of working capital that has been sold but not collected. Obviously that's going to help. Second thing is that we're going to invest less. If you look at the total investments in multi-client for the first half, and then you take the $550 that we guided for the full year, and then you distribute that evenly between the last two quarters, you will see a far lower outflow based on multi-client activities. I think that's quite easy to make that calculation. Very good. We don't have any further questions from the people on the webcast. I'll give the word back to you, Kristian, for concluding remarks. Thank you very much. As I said, it's been a hectic quarter. Two M&A transactions, high revenue growth, lots of interesting projects all over the world. We're pleased about the development of the business. We're pleased that we deliver on our promises. We're really looking forward to see you again after our Q3 presentation later this fall, wish you all a great summer and hope to see you soon. Thank you very much