CGGVeritas Briefs Vessel Utilization for 3Q11

CGGVeritas provided its vessel utilization and its fleet allocation updates for the third quarter of 2011.

Vessel utilization for the third quarter 2011:

  • The vessel availability rate1 was 91% including initial shipyard of the Champion for upgrades as part of our performance program. This compares to a 92% availability rate in the second quarter of 2011 and a 87% rate in the third quarter of 2010.
  • The vessel production rate2 was 93%. This compares to a 85% production rate in the second quarter of 2011 and a 87% rate in the third quarter of 2010.

Fleet allocation update for the third quarter 2011:

During the third quarter of 2011, our 3D vessels were allocated 88% to contract and 12% to multi-client programs.

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