CGG Reports Solid Vessel Production Rate For Q4

(RTTNews) - CGG (CGG) Tuesday reported solid vessel production rate for the fourth quarter of 2014. The firm expects multi-client sales of around $290 million during the quarter, the highest ever quarterly revenue.

The vessel availability rate was 87 percent due to typically high transit at this time of the year, compared to 83 percent availability rate last year, and 92 percent rate in the third quarter of 2014.

The vessel production rate was 92 percent, in comparison with 90 percent production rate in the fourth quarter of 2013 and 92 percent rate in the third quarter of 2014. During the fourth quarter, the company's 3D vessels were allocated 64 percent to contract and 36 percent to multi-client programs.