CGGVeritas Provides its Vessel Utilization Update for the Third Quarter 2012
10 Octobre 2012 - 7:30AM
Business Wire
Regulatory News:
CGGVeritas (Paris:GA) (NYSE:CGV) (ISIN: 0000120164 – NYSE: CGV)
provides its vessel utilization and its fleet allocation updates
for the third quarter of 2012.
Vessel utilization for the third quarter 2012:
- The vessel availability
rate1 was 93%. This compares to a 91%
availability rate in the third quarter of 2011 and a 91% rate in
the second quarter of 2012.
- The vessel production
rate2 was 90%. This compares to a 93% production
rate in the third quarter of 2011 and a 91% rate in the second
quarter of 2012.
Fleet allocation update for the third quarter 2012:
During the third quarter of 2012, our 3D vessels were allocated
72% to contract and 28% to multi-client programs.
About CGGVeritas
CGGVeritas (www.cggveritas.com) is a leading international
pure-play geophysical company delivering a wide range of
technologies, services and equipment through Sercel, to its broad
base of customers mainly throughout the global oil and gas
industry.
CGGVeritas is listed on the Euronext Paris (ISIN: 0000120164)
and the New York Stock Exchange (in the form of American Depositary
Shares, NYSE: CGV).
The information included herein contains certain forward-looking
statements within the meaning of Section 27A of the securities act
of 1933 and section 21E of the Securities Exchange Act of 1934.
These forward-looking statements reflect numerous assumptions and
involve a number of risks and uncertainties as disclosed by the
Company from time to time in its filings with the Securities and
Exchange Commission. Actual results may vary materially.
1 - The vessel availability rate, a metric measuring the
structural availability of our vessels to meet demand; this metric
is related to the entire fleet, and corresponds to the total vessel
time reduced by the sum of the standby time, of the shipyard time
and the steaming time (the “available time”), all divided by total
vessel time;
2 - The vessel production rate, a metric measuring the
effective utilization of the vessels once available; this metric is
related to the entire fleet, and corresponds to the available time
reduced by the operational downtime, all then divided by available
time.
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