CGGVeritas Provides Vessel Utilization Update for the Third Quarter 2008
07 Outubro 2008 - 2:00AM
PR Newswire (US)
PARIS, October 7 /PRNewswire-FirstCall/ -- CGGVeritas (ISIN:
0000120164 - NYSE: CGV) provides its vessel utilization and its
fleet allocation updates for the third quarter of 2008. Vessel
utilization update for the third quarter 2008: On a quarterly
basis, CGGVeritas publishes its vessel utilization updates. Two
indicators are disclosed: - 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 shipyard time
and the steaming time (the "available time"), all divided by total
vessel time; - 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. As expected, in the third quarter, vessel utilization rates
strengthened significantly from the previous quarter: - The vessel
availability rate was 98%, this compares to an 86% vessel
availability rate sequentially and 90% in third quarter 2007. - The
vessel production rate was 90%, this compares to an 80% vessel
production rate sequentially and 85% in third quarter 2007. Fleet
allocation update for the third quarter 2008: During the third
quarter 2008, our 3D vessels were allocated 65% to contract and 35%
to multi-client programs. About CGGVeritas CGGVeritas
(http://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). Investor Relations Contacts: Paris: Christophe
Barnini, Tel: +33-1-64-47-38-10, E-Mail: ; Houston: Hovey Cox, Tel:
+1-832-351-8821, E-Mail: 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. DATASOURCE: CGGVeritas CONTACT: Investor
Relations Contacts: Paris: Christophe Barnini, Tel:
+33-1-64-47-38-10, E-Mail: ; Houston: Hovey Cox, Tel:
+1-832-351-8821, E-Mail:
Copyright