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CGV Conductor Global Equity Value ETF

13.2565
0.00 (0.00%)
18 Jun 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Conductor Global Equity Value ETF AMEX:CGV AMEX Exchange Traded Fund
  Price Change % Change Price High Price Low Price Open Price Traded Last Trade
  0.00 0.00% 13.2565 0 01:00:00

CGG Veritas Gets $130 Million-Worth BP Contracts

23/01/2009 6:33am

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CGGVeritas (CGV) announced today that it has been awarded two long-term seismic acquisition contracts by BP (BP) to undertake multiple high-end marine 3D, wide-azimuth and 4D seismic surveys. CGGVeritas has also received a letter of cancelation from PDVSA relating to the previously announced six month land 3D seismic survey in Venezuela.

For BP, the first contract encompasses an Arctic Ocean exploration 3D survey in the Canadian Beaufort Sea. This project, with an option to extend for a second season, is expected to commence in the summer of 2009. The second long-term contract comprises multiple wide-azimuth and 4D reservoir management surveys in the Gulf of Mexico.

This GoM program is expected to commence early in 2009, with part of the program being acquired in 2010 and includes options for further extensions. The total value of these new BP contracts, not including optional extensions, is expected to be approximately $130 million.

Company Web site: www.cggveritas.com

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