CGGVeritas Provides Vessel Utilization Update for the Third Quarter 2009.PARIS Paris, in Greek mythology Paris or Alexander, in Greek mythology, son of Priam and Hecuba and brother of Hector. Because it was prophesied that he would cause the destruction of Troy, Paris was abandoned on Mt. -- Regulatory News: CGGVeritas (ISIN Isin (ĭs`ĭn), capital of an ancient Semitic kingdom of N Babylonia. The city became important after the third dynasty of Ur fell to the Elamites and the Amorites (c.2025 B.C.). The phase from c.2025–c.1763 B.C. : 0000120164 - NYSE NYSE See: New York Stock Exchange : CGV CGV Ciudad Guayana, Venezuela ) (Paris:GA) (NYSE:CGV) provides 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 har·mat·tan n. A dry dusty wind that blows along the northwest coast of Africa. [Akan (Twi) haramata, possibly from Arabic , 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(1) 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(2) 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, our 3D vessels were allocated 86% to contract and 14% to multi-client programs, a decrease in multi-client investment in 2009, as planned. 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. 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 Euronext Paris is France's securities market, formerly known as the Paris Bourse, which merged with the Amsterdam and Brussels exchanges in September 2000 to form Euronext NV, which is the second largest exchange in Europe behind the London Stock Exchange. (ISIN: 0000120164) and the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (in the form of American Depositary Shares American Depositary Share (ADS) Foreign stock issued in the US and registered in the ADR system. , 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. |
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