Polarcus Vessel Utilization for Q4 and full year 2019

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

    Q4 – 2019    Q4 – 2018    FY 2019   FY 2018 
  Utilization  71% 96%   79% 87%
  By category:           
  Contract Seismic  64% 96%   77% 82%
  Multi-Client  7% 0%   2% 5%
  Transit  13% 2%   13% 10%
  Yard  11% 2%   5% 1%
  Standby  5% 0%   3% 2%

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

The Company will release its fourth quarter and preliminary full year 2019 report on 27 February 2020 at approximately 07:00hrs CET (10:00hrs UAE). A webcast and conference call will be hosted by Polarcus commencing at 10:00hrs CET (13:00hrs 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 seismic vessels with 3D and 4D imaging capabilities, which incorporate leading-edge maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects with advanced onboard processing solutions. The Company services its clients globally from its head office in Dubai and regional offices located in Houston, London and Singapore. 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.