Polarcus vessel utilization for Q4 2016
Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) announces the release of the Company's Fourth Quarter 2016 vessel utilization as follows:
| Utilization | Q4 - 2016 | Q4 - 2015 | FY 2016 | FY 2015 |
| Utilization | 72% | 80% | 83% | 84% |
| By category: | ||||
| Contract Seismic | 55% | 69% | 71% | 60% |
| Multi-Client | 17% | 11% | 12% | 24% |
| Transit | 16% | 9% | 12% | 10% |
| Yard | 3% | 2% | 2% | 1% |
| Standby | 9% | 9% | 3% | 5% |
Polarcus Nadia is excluded from vessel utilization subsequent to cold-stacking on 01 April 2015
The Company will be releasing its Fourth Quarter 2016 Report on 21 February 2017 at approximately 07:00hrs CEST (10:00hrs UAE).
A webcast and conference call will be hosted by Polarcus commencing at 09:00hrs CEST (12:00hrs UAE). Conference call dial-in information will be published on the 7 February 2017.
Contact
Hans-Peter Burlid, CFO
+971 50 559 8175
hp.burlid@polarcus.com
About Polarcus
Polarcus (OSE: PLCS) is an innovative marine geophysical company with a pioneering environmental agenda, delivering high-end towed streamer data acquisition and imaging services from Pole to Pole. Polarcus operates a fleet of high performance 3D seismic vessels incorporating leading-edge maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects with advanced onboard processing solutions and employs nearly 500 professionals worldwide. The Company's principal office is in Dubai, United Arab Emirates. For more information, visit www.polarcus.com
Disclaimer
The information included herein may contain forward-looking statements. Forward-looking statements include all statements that are not historical facts, including but not limited to statements expressing or implying the Company's intent, belief or current expectations with respect to, among other things, forecasts, estimates, and predictions. Such forward-looking statements necessarily involve risks and uncertainties and are dependent on assumptions, information, data or methods that may be incorrect or imprecise. Actual results could differ materially from expectations expressed in the forward-looking statements if one or more of the underlying assumptions or expectations proves to be inaccurate or is unrealized. Some factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, developments in the oil and gas industry, the demand for seismic services, the demand for data from the Company's multi-client library, currency risks, political risks, regulatory risks, and unexpected operational setbacks. For a further description of other relevant risk factors we refer to our 2015 Annual Report. The reservation is also made that inaccuracies or mistakes may occur in the information given above concerning the current status of the Company or its business. Any reliance on the information given above is at the risk of the reader, and Polarcus disclaims any and all liability in this respect.
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Polarcus Limited via GlobeNewswire
