More on Seismic

The number one in seismic CGG Veritas reports Q3

revenue $1062 million (+28%)

EBIT $265 million (+69%)

EPS $1.14(€0.74)(+65%)

backlog 1900 million (+15%)

Outlook: "Within the context of the current oil supply challenges and the global financial market conditions, CGGVeritas with its high-end seismic equipment and services and its solid financial position is well positioned for the future."

The Report

Presentations by CGG Veritas and Reservoir Exploration Technologies(RXT) from Oil Voice's Advanced Geophysics Forum are available at Oil Voice.
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My conclusions from recent reports:
The demand fundamentals for offshore oil service companies are very strong: virtually all seismic companies have record order backlogs, day rates for all types drilling vessels are still high in spite of significant number of newbuilds which already have entered or will enter the market in the near future. Also the drop in oil prices has for now had little effect on service company demand. Interest for offshore E&P licenses remained firm in recent licensing rounds in Indonesia ,Norway and Canada a another positive sign for the future demand.