Polarcus vessel utilization for Q1 2019

Polarcus Limited (“Polarcus” or the “Company”) (OSE: PLCS) announces the Company’s first quarter 2019 vessel utilization as follows:

Utilization Q1 – 2019 Q1 – 2018 FY – 2018
Utilization 92% 83% 87%
By category:      
Contract Seismic 92% 65% 82%
Multi-Client 0% 18% 5%
Transit 6% 11% 10%
Yard 2% 0% 1%
Standby 0% 6% 2%

Polarcus Nadia is excluded from vessel utilization subsequent to cold-stacking in April 2015. 

The Company will be releasing its first quarter 2019 report on 30 April 2019 at approximately 07:00hrs CEST (09:00hrs UAE). A webcast and conference call will be hosted by Polarcus commencing at 08:00hrs CEST (10:00hrs UAE). 

Contacts

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 approximately 325 professionals worldwide. The Company’s principal office is in Dubai, United Arab Emirates. For more information, visit www.polarcus.com

 

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.