Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/boats/emgs-releases-vessel-update-and-activity-for-the-f.shtmlEMGS releases vessel update and activity for the fourth quarter 2015
Electromagnetic Geoservices ASA (EMGS) releases information on vessel activity and utilisation 4-5 working days after the close of each quarter. The Company defines "vessel utilisation" as
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Electromagnetic Geoservices ASA (EMGS) releases information on vessel activity and utilisation 4-5 working days after the close of each quarter. The Company defines "vessel utilisation" as the percentage of the vessel charter period spent on contracted or multi-client data acquisition.
Vessel utilisation for the fourth quarter 2015 came in at 21% compared with 63% for the fourth quarter in 2014. For the full year 2015, the vessel utilisation was 59%, whereas the utilisation for the full year 2014 ended at 69%.
In the fourth quarter of 2015, the Company's vessels were allocated 21% to contract and no time were spent on multi-client programmes. In the fourth quarter of 2014, the allocation was 39% on contract work and 24% on multi-client programmes.
