Capital One Southcoast, Inc Energy Conference New Orleans December 2007
Industry Overview
E&P Market Overview Strong worldwide demand for oil Downward trend in reserve replacement 100 98-07 200 Average growth: 1.7% p.a growth Reserve replacement ratio (%) 80 12 years Oil dem and (Mb/d) 150 +35% lowest 60…
Seismic Market Overview Prospect locations are increasingly harsh and new discoveries are more complex Exploration: Ultra-deep, sub-salt, intricate geology, etc Production: Low reservoir quality, complex fluid flow, etc NOC…
From Exploration to Production Frontier Exploration Development Exploration Production Exploration Complex Geology & Appraisal 3D Hi Resolution Conventional Wide-Azimuth 2D Wide-Azimuth 4D 3D Advanced Imaging Depth Imaging…
CGGVeritas: A New Leader in Seismic Equipment Services Sercel Marine Land Multi-Client Processing Worldwide 14 3D vessels 30 land crews Recent vintage 28 open centers & 17 Production offshore library dedicated A full range of…
Worldwide Operations 8
Company Detail
Strong Today and Well Positioned for the Future An open and worldwide international company Leading innovation and advanced technology Positioned across exploration and production Enhanced productivity & economy of scale 10
Leading Innovation and Technology Marine Wide-Azimuth Continued advancement of acquisition technique to further improve image clarity and illumination of complex structure Marine New Vessels Extremely advanced specification, based…
Ulstein X-Bow Design CGGVeritas exclusivity on SX-120 design Lowest environmental impact of any seismic vessel with CLEAN designation from DnV Designed to reduce slamming of bow and consequent surging motion reduces variations in…
Acquisition Technique: Wide-Azimuth Conventional acquisition Wide-Azimuth Single vessel with receiver spread A recording vessel and a cross-line source vessel Vessel 13
Data Library Worldwide Coverage 2D: 1,000 km 3D: 4,500 sq km 2D: 45,000 km 3D: 40,000 sq km 3D: 17,000 sq km N. Sea Alberta Scotia Shelf Caspian 2D: 400 km US Land 2D: 2,000 km 3D: 21,000 sq km Libya GOM 2D: 43,000 km…
GOM Combined Library & New Projects Walker Ridge WAZ Start Q2 07: 464 OCS Blocks (10,672 sq km) Garden Banks WAZ Start Q4 07: 600 OCS Blocks (13,800 sq km) 19 Green Canyon WAZ Start Q4 08: 243 OCS Blocks (5,589 sq km)
Leases Expiring in 2008 to 2016 CGGVeritas Library ideally located to benefit from future lease turnovers (Total of 2900 blocks) 20
Services Outlook Strong market conditions extend into 2009 Long term land contracts in Middle East and Arctic with strong take up of HPVATM and our new V1TM technology Full fleet active from December 2007 with addition of Vision…
Leading Innovation and Technology Cableless acquisition Vibtech, second generation Cellular Seismic Recording System offering flexible high data rate radio transmission and/or local data storage Seabed acquisition SeaRay, sea…
Outlook 900 70% Market in 2007 expected to increase 35% 61% 823 800 59% 59% 60% 700 52% 768 49% Strong performance in land equipment 46% 46% 50% 600 driven by demand for high channel count 500 31% 470 40% 390 crews and…
Financial Results & Key Highlights
P&L Highlights M Group Revenues M M Group EBITDA M 991 2375 45% margin 739 720 369 1771 1822 829 +33% 607 621 271 244 Q2: 769 Q2: 284 956 358 Q3 1546 468 476 321 124 622 1163 1201 Q3 H1 634 Q1: 777 Q1: 338 H1 234 CGG…
Conclusions Since the creation of CGGVeritas in January of 2007 we have delivered strong financial results as we integrate our company Integration and synergies on track Looking forward, our visibility and favorable market…
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