Can anyone tell me what seismic vessels CGG is currently operating?
Are any CGG vessels currently operating in the Gulf of Mexico?
tx
9 replies (most recent on top)
It's funny.... I just checked out the Shearwater website and the vessel fleet page. The webpage looks like what CGGs' did about seven years ago with all those vessels!
To answer your question research the phrase 'asset light', minimising owning 'any' physical assets, or in this case vessels.
As vessel leases run out or offers come in they will all be sold.
This process takes time and management don't want all their crews to jump ship today, so each quarter statement as the vessels assets leave management will gradually decrease the target numbers until you achieve the target - asset light - no vessels.
In effect, if you work on a CGG vessel you are already redundant, it just hasn't officially been announced yet.
On the positive side, Shearwater just got WesternGeco's entire fleet, ~12 boats and are now a major global marine acquisition player, they will be looking to get these out working as soon as.
You could take your valuable experience to this rapidly expanding team. Unlike CGG who are shrinking by asset stripping.
What vessel are they likely to dispose of next?
I guess that "Passion for Geoscience" will be replaced with "Passion for Survival"
I like the wording of the CGG press releases. The "asset light model" especially. No matter which definition of "asset" you look at, it still has the word "value" attached to it.
Does it matter...
CGG had many vessels
Management bought, Veritas, Wakefield, parts of Fugro, all with vessels
There maybe 5 vessels, 3 of which are crossing the Atlantic.
With management asset stripping to the asset light model
how many will still be CGG owned when they reach the other side, who knows.
3 vessels isn't even enough to do ones own StagSeis shoot taylored to the Gulf of Mexico.
Might as well sell the patent asset
What happened to the Caspian?
Oceanic Sirius, Oceanic Vega and Geo Caribbean are currently heading west across the Atlantic.
Geo Coral (Singapore)
Oceanic Champion (Brazil).
According to www.marinetraffic.com , these vessels are either moored or in transit (vessel speed should be approx 4-5 knots for production).
So, no vessels are currently in production.
Explorer is not a CGG vessel
Vega, Sirius, Coral, Viking, Explorer
Don't think there is anything operating in the GoM.