Petroleum Geo-Services ASA: Vessel allocation Q2 2018
July 02 2018 - 1:00AM
July 2, 2018: 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
June 30, |
Quarter ended March 31, |
| |
2018 |
2017 |
2018 |
| Contract seismic |
12% |
60% |
36% |
| MultiClient seismic |
62% |
24% |
31% |
| Steaming |
18% |
15% |
4% |
| Yard |
3% |
0% |
0% |
| Stacked/Standby |
5% |
1% |
29% |
The Q2 2018 vessel statistics includes eight vessels. All
cold-stacked* vessels are excluded from the statistics.
PGS will release its Q2 2018 financial results on
Thursday July 19, 2018, at approximately 8:00 am Central European
Summer Time (CEST). A corresponding presentation is scheduled for
09:00am CEST the same day.
*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.
FOR DETAILS, CONTACT: |
Bård Stenberg, SVP IR &
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 2017. 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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