CGGVeritas Posts 3D Vessel Utilization Update for 3Q

CGGVeritas has provided its vessel utilization and its fleet allocation updates for the third quarter of 2009.

Vessel utilization for the third quarter 2009:

The following vessel utilization rates for the third quarter 2009 do not take into account the Harmattan, the Fohn and the Orion, three 3D vessels which were decommissioned during the second and the third quarters as part of our marine capacity adjustment program.

  • The vessel availability rate was 90%, including a 7% impact related to standby between contracts. This compares to an 89% availability rate in the second quarter 2009 and a 98% rate in the third quarter 2008.
  • The vessel production rate was 93%. This compares to an 88% production rate in the second quarter 2009 and a 90% rate in the third quarter 2008.

Fleet allocation update for the third quarter 2009:

During the third quarter of 2009, CGGVeritas' 3D vessels were allocated 86% to contract and 14% to multi-client programs, a decrease in multi-client investment in 2009, as planned.


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