CGG Reduces Rates for Two More Vessels

French seismic survey specialist, CGG has reduced day rates for two more seismic vessels following the reduction for an Eidesvik-owned ‘Viking Vanquish’ vessel.

The reduction of the day rate for the Viking Vanquish seismic vessel is effective from January 2017.

Reflecting CGG’s commitment to focus on strict cost and cash management, CGG and its Norwegian subsidiary Exploration Investment Resources II have entered into agreements to substantially reduce the cash burden of the charter agreements in respect of three cold-stacked seismic vessels, namely the ‘Pacific Finder’, the ‘Ocean Phoenix’ and the ‘Viking Vanquish’.

The reduction comes in exchange for agreed settlement amounts, the company said.

As part of the agreements to settle those amounts on a non-cash basis, CGG on January 20 issued $58.6 million in aggregate principal amount of its 6.50% senior notes due 2021 to the relevant charter counterparties.


Share this article

Follow Subsea World News


<< Jul 2017 >>
26 27 28 29 30 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31 1 2 3 4 5 6

Kuwait Oil & Gas Show

Kuwait Oil & Gas Show is the Kuwait International Fair Ground in Kuwait City, Kuwait. This event showcases product from Chemicals & Dyes, Electronics & Electrical Goods, Hand, Machine & Garden Tools, Petroleum, Oil & Gas, Power & Renewable Energy industries. More info

read more >

SPE Offshore Europe 2017

Attending SPE Offshore Europe, recognised by offshore E&P professionals as Europe’s leading E&P exhibition and conference, will ensure…

read more >

Offshore Site Investigation & Geotechnics Committee 8th International Conference “Smarter Solutions for Future Offshore Developments”

The conference series, which has run since 1979, offers a unique opportunity for geotechnical engineers, geoscientists and academics…

read more >

Oil & Gas Indonesia 2017

Oil & Gas Indonesia (OGI) is an exhibition focused on Oil and Gas Exploration, Production and Refining and showcases the largest exhibition…

read more >