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WIKI ANALYSIS
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CGGVeritas is the world’s leading international pure-play geophysical company.
It provides mostly oil and gas companies with solutions to gather and process geophysical data. These solutions include offshore and onshore seismic acquisition, seismic data processing & imaging, as well as reservoir management. Offshore, CGGVeritas operates the industry’s largest fleet with 20 seismic vessels offering the most flexible variety of towing configurations to suit client requirements while, onshore, a potential capacity of 30 land and shallow water crews provide high-end acquisition capabilities in any location around the globe.
The company was created as a result of a 2007 merger between Compagnie Générale de Géophysique and Veritas. The combined company was renamed "Compagnie Générale de Géophysique - Veritas," abbreviated as "CGGVeritas", and is listed on both Euronext Paris and the New York Stock Exchange (in ADS form). The trading symbol of the combined company's ADS on the New York Stock Exchange is "CGV".
In terms of size, its sales were about in 2007 of 2374 Million €, with a net income of 250 Million € and it employed 8 123 people. Its balance sheet added to 2402 Million € in equity and 1107 Million € in debt. It generated 647 Million € in net operating cash flows.
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