Petroleum Geo-Services ASA: Vessel allocation Q3 2017
03 October 2017 - 5:00PM
October 3, 2017: Oslo, Norway, PGS
routinely releases information about 3D vessel utilization after
the end of each quarter.
Summary of vessel utilization:
| Approximate allocation of PGS
operated 3D towed streamer capacity |
Quarter ended
September 31, |
Quarter ended June 30, |
| |
2017 |
2016 |
2017 |
| Contract seismic |
28% |
33% |
60% |
| MultiClient seismic |
53% |
45% |
24% |
| Steaming |
5% |
10% |
15% |
| Yard |
2% |
2% |
0% |
| Stacked/Standby |
12% |
10% |
1% |
In Q3 2017 PGS operated nine 3D vessels, corresponding to 128
streamers. All cold-stacked* vessels are excluded from the
statistics.
PGS will release its Q3 2017 financial results on
Thursday October 26, 2017, at approximately 7:00 am Central
European Summer Time (CEST). A corresponding presentation and
conference call is scheduled for 8:00 am CEST the same day,
followed by an additional conference call at 3:00 pm CEST.
*The term "cold-stacked" is used when a vessel is
taken out of operation for an extended period of time. Costs are
reduced to a minimum, with the vessel preserved for a long idle
time, all or most in-sea seismic equipment removed from the vessel,
and typically the crew required to operate the vessel is
terminated. Use of the term "warm-stacked" means that the vessel is
temporarily taken out of operation with streamers and all other
equipment necessary to perform seismic operation still onboard the
vessel and the crew required to operate the vessel available or can
be sourced with limited delay.
FOR DETAILS, CONTACT: |
Bård Stenberg, VP IR & Corporate
Communications
Mobile: +47 99 24 52 35
|
****
Petroleum
Geo-Services is a focused marine geophysical company providing a
broad range of seismic and reservoir services, including
acquisition, imaging, interpretation, and field evaluation. The
Company's MultiClient data library is among the largest in the
seismic industry, with modern 3D coverage in all significant
offshore hydrocarbon provinces of the world. PGS operates on a
worldwide basis with headquarters at Lilleaker, Oslo,
Norway.
For more information on Petroleum
Geo-Services visit www.pgs.com.
****
The information included herein contains certain
forward-looking statements that address activities, events or
developments that the Company expects, projects, believes or
anticipates will or may occur in the future. These statements are
based on various assumptions made by the Company, which are beyond
its control and are subject to certain additional risks and
uncertainties. The Company is subject to a large number of
risk factors including but not limited to the demand for seismic
services, the demand for data from our multi-client data library,
the attractiveness of our technology, unpredictable changes in
governmental regulations affecting our markets and extreme weather
conditions. For a further description of other relevant risk
factors we refer to our Annual Report for 2016. As a result of
these and other risk factors, actual events and our actual results
may differ materially from those indicated in or implied by such
forward-looking statements. The reservation is
also made that inaccuracies or mistakes may occur in the
information given above about current status of the Company or its
business. Any reliance on the information above is at the risk of
the reader, and PGS disclaims any and all liability in this
respect.
--END--
This information is subject
to the disclosure requirements pursuant to section 5 -12 of the
Norwegian Securities Trading Act.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Petroleum Geo-Services ASA via Globenewswire
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