The Schlumberger company has been bringing in the innovative X-Bow design newbuilds bought from Eastern Echo in 2007 and vessels ordered from Arrow Seismic, while CGGVeritas has been mainly focused on getting rid of some older boats.
Along with all the other big contractors, WesternGeco’s revenues were hit in the third quarter by sluggish demand. They plunged 17% in the second quarter to $463 million and were down 48% year-on-year.
