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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