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BWO- BW Offshore- tid for å høste?
OldNick
28.08.2015 08:54
#17249

The majority of BW Offshore's fleet remain on long-term contracts with national and independent oil companies. The fleet will continue to generate a healthy cash flow in the time ahead.

Redeployment of units coming off contracts will be affected by the reduced number of new developments. In the current market, BW Offshore believes it is important to preserve financial capacity for a more uncertain future.

Please see the attachments for the full quarterly report and presentation.

For further information, please contact:
Knut R. Sæthre, CFO, +47 9111 7876
Kristian Flaten, Vice President IR and Corporate Finance, +47 9509 2322

About BW Offshore

BW Offshore is a leading global provider of floating production services to the oil and gas industry. BW Offshore is the world's second largest contractor with a fleet of 14 FPSOs and 1 FSO represented in all major oil regions world-wide. The company also operates additional 2 FPSOs. BW Offshore has a long track record on project execution and operations, as well as a robust balance sheet and strong financial capabilities. In more than 30 years of production, BW Offshore has executed 38 FPSO and FSO projects. The company is listed on the Oslo Stock Exchange. Further information is also available on www.bwoffshore.com

BWO: Q2-2015 Report (PDF)

BWO: Q2-2015 Presentation (PDF)

Endret 28.08.2015 08:55 av OldNick
Beinmarg
28.08.2015 13:39
#8853

skulle jo ha venta til i dag med å kjøpe mer, :)
Tror denne blir fin i fremtiden. så vi sitter roligt og fyller på mer etter hvert.
Ha en fortreffelig flott helg. alle medeiere.
OldNick
28.08.2015 21:50
#17255

Temmelig hardt salgspress etter rapporten.


Tipper det var kombinasjonene av mer negative utsikter fremover, sammen med forsinket (og sikkert fordyret) reparasjon av FPSO Sao Mateus, sammen med mulig forsinkelse på Catcher-skipet.

Tror det var mindre halveringen i utbytte.

Netfonds angir 2.91 som ATL. Ikke langt ned dit, dessverre.
______

Det samme indikerer DNB Markets:

Kommentar til BW Offshore

BW Offshore foreslår i dag et utbytte på USD 0.01 pr aksje mot både våre forventninger og konsensus om USD 0.02 pr aksje. EBITDA for Q2 kom inn på USD 105 mill, hvilket er 1-2% over estimatene, mens USD 20 mill i resultat etter skatt er under både vårt estimat på USD 22 mill og konsensus på USD 26 mill. Frakoblingen av FPSO Cidade de Sao Mateus ser ut til å ta mer tid enn opprinnelig forventet og vi venter at fokus i dag også vil være på risikoen for en forsinkelse av Catcher FPSO og generelt svekkede markedsutsikter. Før eventuelle justeringer på grunnlag av rapporten har vi en salgsanbefaling på BW Offshore med et kursmål på NOK 3.20 pr aksje. Kursen sluttet i går på NOK 3.53 pr aksje.

Mvh
DNB Markets
Aksjehandel Online
Tlf: 08940
E-post: ah.markets@dnb.no

Endret 28.08.2015 21:52 av OldNick
Beinmarg
29.08.2015 19:36
#8856

Det får være en trøst at Dollaren har gått opp, :) Denne blir fremdeles fin på lang sikt, Jeg skal øke i denne fremover, stille og roligt.
OldNick
31.08.2015 09:31
#17259

Så kom innsidekjøpene igjen, men ubetydelige foreløpig.

BWO: BW Offshore - Mandatory notification of trade

Børsmelding
31.08.2015

A close associate of BW Offshore's CEO Carl K. Arnet on Friday 28 August purchased 5,000 shares in BW Offshore Limited at NOK 3.10 per share. Following this transaction, Mr. Arnet and his close associates, directly and indirectly, hold 7,664,081 shares in BW Offshore Limited.

For further information, please contact:
Kristian Flaten, Vice President IR and Corporate Finance, +47 9509 2322
OldNick
01.09.2015 08:51
#17263

Så fikk vi et innsidekjøp av "dimensjoner".


BWO: BW Offshore - Mandatory notification of trades

Børsmelding
01.09.2015

A close associate of BW Offshore's CEO Carl K. Arnet yesterday purchased 50,000 shares in BW Offshore Limited at NOK 3.20 per share. Following this transaction, Mr. Arnet and his close associates, directly and indirectly, hold 7,714,081 shares in BW Offshore Limited.

Claude Rouxel, Chief Business Development Officer of BW Offshore, yesterday purchased 500,000 shares in BW Offshore Limited of NOK 3.03 per share. Following this transaction, Mr. Rouxel holds 1,002,139 shares in BW Offshore Limited.

For further information, please contact:
Kristian Flaten, Vice President IR and Corporate Finance, +47 9509 2322
OldNick
02.09.2015 13:01
#17269

Stadig flere innsidekjøp.


BWO: BW Offshore - Mandatory notification of trade

Børsmelding
02.09.2015

A close associate of BW Offshore's CEO Carl K. Arnet yesterday purchased 30,000 shares in BW Offshore Limited at NOK 3.17 per share. Following this transaction, Mr. Arnet and his close associates, directly and indirectly, hold 7,744,081 shares in BW Offshore Limited.

For further information, please contact:
Kristian Flaten, Vice President IR and Corporate Finance, +47 9509 2322
______

BWO: BW Offshore - Mandatory notification of trade

Børsmelding
02.09.2015

Christophe Pettenati-Auzière, member of the Board of Directors in BW Offshore, yesterday purchased 60,000 shares in BW Offshore Limited of NOK 3.16 per share. Following this transaction, Mr. Pettenati-Auzière holds 560,000 shares in BW Offshore Limited.

For further information, please contact:
Kristian Flaten, Vice President IR and Corporate Finance, +47 9509 2322
______

Sistnevnte kjøpte også masse aksjer (460k) i fjor mellom 6.99 og 8.48, og et kjøp tidligere i år til 6.69, så han er nok fornøyd med å få samme aksjene nå til 3.16 :-)
OldNick
02.09.2015 17:20
#17274

BWO på Pareto-konferansen.

Ser ut som om innsidekjøpene har gitt et løft etter at rapporten er fordøyd.

BWO: BW Offshore - Company presentation

Børsmelding
02.09.2015

BW Offshore is presenting at the Pareto Oil & Offshore Conference today. Please see the full presentation attached.


For further information, please contact:
Kristian Flaten, Vice President IR and Corporate Finance, +47 9509 2322


BWO: Company presentation (PDF)

Endret 02.09.2015 17:21 av OldNick
OldNick
03.09.2015 08:26
#17276

Fortsatt betydelige innsidekjøp etter rapporten og nedsalget av BWO-kursen.

BWO: BW Offshore - Mandatory notification of trades

Børsmelding
03.09.2015

Christophe Pettenati-Auzière, member of the Board of Directors in BW Offshore, yesterday purchased 40,000 shares in BW Offshore Limited of NOK 3.30 per share. Following this transaction, Mr. Pettenati-Auzière holds 600,000 shares in BW Offshore Limited.

Maarten Scholten, member of the Board of Directors in BW Offshore, yesterday purchased 172,000 shares in BW Offshore Limited of NOK 3.41 per share. Following this transaction, Mr. Scholten holds 306,000 shares in BW Offshore Limited.

For further information, please contact:
Kristian Flaten, Vice President IR and Corporate Finance, +47 9509 2322
OldNick
04.09.2015 09:09
#17286

BWO: BW Offshore - Mandatory notification of trade

Børsmelding
04.09.2015

Christophe Pettenati-Auzière, member of the Board of Directors in BW Offshore, yesterday purchased 50,000 shares in BW Offshore Limited of NOK 3.65 per share. Following this transaction, Mr. Pettenati-Auzière holds 650,000 shares in BW Offshore Limited.

For further information, please contact:
Kristian Flaten, Vice President IR and Corporate Finance, +47 9509 2322
OldNick
09.09.2015 16:23
#17309

BWO: BW Offshore - Mandatory notification of trade

Børsmelding
09.09.2015

Christophe Pettenati-Auzière, member of the Board of Directors in BW Offshore, yesterday purchased 50,000 shares in BW Offshore Limited of NOK 3.75 per share. Following this transaction, Mr. Pettenati-Auzière holds 700,000 shares in BW Offshore Limited.

For further information, please contact:
Kristian Flaten, Vice President IR and Corporate Finance, +47 9509 2322
OldNick
10.09.2015 07:46
#17311

BWO: BW Offshore - Mandatory notification of trades

Børsmelding
10.09.2015

BW Offshore Limited ("BWO") yesterday, under a long-term bonus scheme, sold 35,905 BWO-shares to CFO Knut R. Sæthre, 47,683 BWO-shares to CBDO Claude Rouxel, 43,520 BWO-shares to CTO Thyl Kint and 37,407 BWO-shares to COO Stuart Bannerman. The transaction price was set at NOK 6.28 per share, which represents the average closing price after the release of the annual results. The shares will be restricted until 1 June 2016 and are transferred from BW Offshore's holding of treasury shares.

Following the above transactions, BWO will hold 2,445,020 shares in treasury. Knut R. Sæthre will hold 645,906 shares, Claude Rouxel will hold 1,049,822 shares, Thyl Kint will hold 259,071 shares and Stuart Bannerman will hold 89,907 shares in BWO.

For further information, please contact:
Kristian Flaten, Vice President IR and Corporate Finance, +47 9509 2322
OldNick
25.09.2015 08:24
#17371

BWO: BW Offshore - Mandatory notification of trade

Børsmelding
25.09.2015

Christophe Pettenati-Auzière, member of the Board of Directors in BW Offshore, yesterday purchased 192,603 shares in BW Offshore Limited of NOK 3.42 per share. Following this transaction, Mr. Pettenati-Auzière holds 892,603 shares in BW Offshore Limited.

For further information, please contact:
Kristian Flaten, Vice President IR and Corporate Finance, +47 9509 2322
OldNick
23.11.2015 09:12
#17561

Mye negativt her.

BWO: BW Offshore - Q3-2015 - Condensed interim consolidated financial information

Børsmelding
23.11.2015

- EBITDA of USD 174.0 million including insurance recovery
- Impairment USD 75 million recognised for damages on FPSO Cidade de São Mateus
- Recovery project for FPSO Cidade de São Mateus ongoing
- Dividend payment suspended

Operating revenues for Q3 2015 amounted to USD 308.7 million, an increase of USD
65.0 million compared to Q2 2015. Operating expenses amounted to USD 134.4
million, a decrease of USD 5.0 million.

EBITDA for the third quarter amounted to USD 174.0 million, an increase of USD
69 million.

Depreciation amounted to USD 64.4 million, a decrease of USD 7.6 million.
Operating profit for the quarter amounted to USD 34.2 million. Net financial
expenses for the quarter amounted to USD 27.2 million. Tax expense for the
quarter amounted to USD 14.3 million.

Net loss amounted to USD 7.3 million compared to net profit of USD 19.6 million
last quarter.

EBITDA has been increased by an insurance recoverable of USD 75 million recorded
for direct damages to FPSO Cidade de São Mateus as well as loss of hire
insurance recognised during the quarter. The loss of charter hire rate under the
revised contract with Ithaca Energy for FPSO Athena has partially offset the
increase.

Depreciations have decreased as depreciations of non-recoverable costs on BW
Athena have been revised as the estimated contract period has been extended.

During third quarter 2015, the Company recorded an impairment of USD 75 million
to reflect losses related to non-recoverable costs as well as direct damages to
the FPSO Cidade de São Mateus. Net financial expenses have increased mainly as
a result of lower interest rates increasing net liability on hedging contracts.

Total equity at 30 September 2015 amounted to USD 1,173.2 million. The equity
ratio was 32.4% at the end of the quarter.

As of 30 September 2015, the Company had USD 911.2 million in interest-bearing
loans and USD 60.0 million in letters of guarantee drawn under the USD 2,400
million credit facility. The committed amount on the USD 2,400 million credit
facility was USD 1,197.4 million, following scheduled reductions. Total utilised
debt facilities for the company, including bond loans and other facilities was
USD 1,742.2 million. Total available liquidity as of 30 September 2015 amounted
to USD 314.6 million.

Net debt amounted to USD 1,630.8 million at 30 September 2015. Net cash inflow
from operating activities was USD 101.2 million. Net cash outflow from investing
activities was USD 150.8 million. Cash outflow on investing activities is mainly
related to capitalisation on the Catcher project and capital expenditures for
ongoing life extension activities. Life extension activities are generally
either covered on a cost plus basis or reimbursed through higher day rates. Net
cash outflow from financing activities was USD 53.4 million.

OPERATIONS
BW Offshore operates 17 units. The owned fleet consists of 14 FPSOs and one FSO.
Average uptime during the third quarter was 98.3% . Cidade de São Mateus is
excluded from the average uptime until the unit recommences operations after the
repair project.

The Company operates the FPSO Peregrino for Statoil and Sinochem on the
Peregrino oil field offshore Brazil.

The Company also operates the FPSO P-63 owned by Petrobras and Chevron on the
Papa Terra field offshore Brazil for three years in a joint venture with Queiroz
Galvão Óleo e Gás S.A. ('QGOG'). The operation started in November 2013.

Endret 23.11.2015 09:12 av OldNick
OldNick
23.11.2015 09:14
#17562

The recovery project for Cidade de São Mateus continues, where the unit now has
been freed of gas and condensate has been offloaded. The next significant step
is to disconnect the risers and mooring lines so that the unit can be towed to a
yard for repairs. As the unit is still at the field, it has been challenging to
get access to make an accurate assessment of the damages, and consequentially
also to decide the book value to be impaired. This impairment charge will be
booked as soon as a reliable estimate can be made.

BW Offshore carries insurance cover on a fleet wide basis, for its crew and
support staff, pollution and clean up and any damage to vessels. In addition,
the FPSO Cidade de São Mateus is also covered by a loss of hire insurance from
12 May 2015 for a period of 12 months. The accident and its consequences will to
a large extent be covered by these policies and BW Offshore is working closely
with insurers and their loss adjusters in the recovery operations. Given the
delay to the disconnection the unit is expected to be without rate for some time
before repairs can be carried out and the unit returns to the field. The length
of this period is still uncertain.

Except for Azurite that has been returned by the client before the end of the
fixed contract and is marketed for new projects, all other FPSOs and FSO are on
contract per the end of the quarter.

PROJECTS
The Catcher project remains within budget with expected first oil in 2017. Also
during third quarter, good progress was made on engineering, procurement, and
construction activities for topside, turret mooring system and hull.

BWO has previously reported that hull activities have slipped due to the yards
inability to progress the hull delivery in accordance with the contractual
schedule. A mitigation plan has been implemented to minimise the impact to the
overall project schedule. As of third quarter, this mitigation plan has worked
well as there has been no further slippage.

At the end of the quarter 77% of the projected project cost has been committed.
BW Offshore is closely monitoring progress and safety in all the project
activities, ensuring that mitigating actions are implemented quickly if any
deviation is detected.

The Company is undertaking a number of modification and life extension
activities on existing units. These activities are either covered on a cost plus
basis or reimbursed through higher day rates.

DIVIDEND
The Board of Directors reaffirms the long-term dividend policy. In light of the
near term reduction in industry activity levels, the board has decided to
suspend dividend payments until market visibility improves.

OUTLOOK
The continued low oil price has changed the short- and medium term outlook for
BW Offshore's products and services. Macro conditions for the offshore industry
have significantly worsened with expected continued drop in capital expenditure.

BW Offshore still expects outsourcing of production to be a cost effective
solution for oil and gas companies, but believes it is prudent to expect a
prolonged downturn in orders being awarded.

The majority of BW Offshore's fleet remain on long-term contracts with national
and independent oil companies. The fleet will continue to generate a healthy
cash flow in the time ahead.

Redeployment of units coming off contracts will be affected by the reduced
number of new developments. In the current market, BW Offshore believes it is
important to maintain a strong balance sheet and liquidity.


BWO: Q3-2015 Report (PDF)

BWO: Q3-2015 Presentation (PDF)
Beinmarg
14.01.2016 10:44
#8875

Syns denne har en en fin ingangs pris. Fremstår som billig. Eller er det noe jeg ikke ser ?
Beinmarg
20.01.2016 17:59
#8876

Ja tok mer I denne I går. Tror hele tiden, at nå må bunnen være der :)
Kan jo ikke være langt unna nå :)
Beinmarg
22.01.2016 08:20
#8877

BW Offshore has received a one year contract extension for the lease and
operation of the FPSO Umuroa. The FPSO is operating on the Umuroa field offshore
New Zealand for AWE.
The firm period has been extended to Q4 2017 (from Q4 2016).
For further information, please contact:
Kristian Flaten, Vice President IR and Corporate Finance, +47 9509 2322
gorwell
05.02.2016 11:18
#22218

$308,7 mill på 17 skuter på 92 dager, ~$200.000 per skute per dag. ~$1200 mill revenue per år.

Sinnsykt å kjøpe BWO aksjer til kr 6,28 når prisen var en brøkdel av det (10/9/2015). Nå er aksjen priset til en snau tredel av prisen 10/9/15 og innsidehandel ser overveldende positiv ut.

Må nok ta høyde for full avskriving av goodwill, maxed out impairment og kraftig barbering av skipsverdier til kvartals-rapport Q4/2015.

Likevel.... Hmmm?

gorwell
gorwell
08.02.2016 11:41
#22226

Q4-2015

$318,8 mill på 17 skuter på 92 dager, ~$204.000 per skute per dag.

Årsrapport 2015

Underskudd på av- og nedskriving. Underliggende business bedre enn i fjor. Ingen spesiell grunn til å vente at Oil Co slutter å produsere fra de feltene skutene ligger.

BWO engasjerer rådgiver for sikkerhets skyld.

NMBR har tatt 2498000 aksjer så langt i dag...

gorwell
Beinmarg
08.02.2016 20:53
#8878

Ja, Hmmm.
gorwell
08.02.2016 21:16
#22229

Stoler på at NMBR vet hva han gjør så jeg tok litt...

gorwell
highlander
22.03.2016 10:11
#5937

DNB Markets anbefaler salg av BWO, og setter kursmålet til 1 kr pr aksje.
OldNick
25.04.2016 09:20
#18021

Noen børsmeldinger for BW Offshore Ltd

BWO: BW Offshore - Letter from The Financial Supervisory Authority of Norway

Børsmelding
09.02.2016

The Financial Supervisory Authority of Norway (FSA) has reviewed certain aspects of the 2014 financial statements of BW Offshore Limited.

The review focuses primarily on the company's method for depreciating vessels classified as conversion candidates. In 2014, BW Offshore revised the depreciation method used for conversion candidates, arguing that the consumption of future economic benefits embodied in these assets during the redeployment period is negligible, and therefore temporarily stopped depreciating such assets.

The FSA has made an assessment that the revised depreciation based on the usage method is not considered suitable for FPSOs with redeployment risk. BW Offshore will adjust depreciations going forward to reflect this.

Link to notice from the FSA

For further information, please contact:
Knut R. Sæthre, CFO, +47 9111 7876
Kristian Flaten, VP IR and Corporate Finance, +47 9509 2322
______

BWO: BW Offshore - Mandatory notification of trade

Børsmelding
11.02.2016

A close associate of BW Offshore's CEO Carl K. Arnet yesterday purchased 35,000 shares in BW Offshore Limited at NOK 1.37 per share. Following this transaction, Mr. Arnet and his close associates, directly and indirectly, hold 7,779,081 shares in BW Offshore Limited.
______

BW Offshore kutter stab og kostnader

BW Offshore skal kutte kostnadene med 30 millioner dollar per år gjennom nedbemanning


Helene Kleppe, Hegnar.no
19.02.2016

I en børsmelding fredag opplyser BW Offshore at de vil nedbamanne.

Selskapet opplyser at forretningsklimaet i bransjen er ytterligere forverret de seneste månedene, og vil derfor redusere antallet fast ansatte onshore med 35 prosent globalt.

Prosessen ventes fullført i løpet av første kvartal 2016 og anslås å redusere kostnadene med 30 millioner dollar per år.
______

BWO: BW Offshore - Mandatory notification of trade

Børsmelding
08.03.2016

Maarten Scholten, member of the Board of Directors in BW Offshore, yesterday purchased 190,000 shares in BW Offshore Limited of NOK 1.75 per share. Following this transaction, Mr. Scholten holds 596,000 shares in BW Offshore Limited.
______

BWO: BW Offshore - Annual Report 2015

Børsmelding
01.04.2016



BWO: Annual Report 2015 (PDF)
______

BWO: BW Offshore - FPSO BW Pioneer contract extension and mooring system repair

Børsmelding
25.04.2016

Petrobras America Inc. has exercised the option to extend the fixed term of the lease contract for FPSO BW Pioneer from Q1-2017 to Q1-2020.

BW Offshore will in Q2-2016 replace parts of the subsea mooring system for FPSO BW Pioneer. The cost for the replacement will be partly covered by insurance. During the replacement, the FPSO BW Pioneer will be disconnected. The replacement campaign is expected to result in approximately two months of downtime.

For further information, please contact:
Knut R. Sæthre, CFO, +47 9111 7876
OldNick
24.05.2016 10:01
#18088

Som fryktet hos flere analytikere, BWO må kalle inn mer egenkapital for å styrke balansen slik at de overlever denne nedturen.

Selskapet ønsker å bedre likviditeten med US$500m i perioden frem til 2020, og av dette skal aksjekapitalen økes med US$100m i en garantert, rettet emisjon.

Ekstraordinær ("Special") GF er kalt inn (se under).

BWO: BW Offshore - Q1-2016 - Condensed interim consolidated financial information and announcement of a fully underwritten rights issue

Børsmelding
23.05.2016

- EBITDA of USD 97.4 million
- Contract extension for BW Pioneer
- BW Athena demobilised in February
- Cidade de São Mateus arrived Singapore
- Establishing strengthened financial platform

EBITDA for the first quarter amounted to USD 97.4 million, a decrease of USD
68.1 million (USD 165.5 million)[1]. EBITDA for fourth quarter 2015 was
positively impacted by an insurance recoverable of USD 85 million recorded for
repairs to FPSO Cidade de São Mateus.

Operating profit for the quarter amounted to USD 36.2 million (operating loss
USD 223.0 million). Net loss for the quarter amounted to USD 2.9 million (USD
234.5 million). Total equity at 31 March 2016 amounted to USD 948.7 million, an
increase of USD 4.3 million (USD 944.4 million at 31 December 2015). The equity
ratio was 28.0% at the end of the quarter, up from 27.5%.

Petrobras Americas has exercised the option to extend the fixed term of the
lease contract for FPSO BW Pioneer from first quarter 2017 to first quarter
2020. As part of the contract extension the Company has agreed to certain
amendments to the charter rate.

The Catcher project remains within budget with expected first oil in second half of 2017.

The oil price has recovered from the 12-year low point in January 2016.
Uncertainty about future oil prices continues to drive cost cutting and
reduction in E&P spending. BW Offshore still expects outsourcing of production
to be a cost effective solution for oil and gas companies, but still believes it
is prudent to expect a prolonged downturn in contract awards. The staff
reduction program is expected to reduce the company's annual cost base by around
USD 30 million and further cost cutting processes will be implemented.

As per end of first quarter 2016, the Company is in compliance with all
financial covenants. As announced in relation to the 4Q 2015 reporting, the
Company has been evaluating measures to address potential future liquidity
challenges and to secure a credible long-term financial platform. The Company
has in recent weeks carried out discussions with its bank facility providers,
selected bondholders in the bond issues and largest shareholders in order to
find a long-term financial platform. The financing plan which has been discussed
is expected to contribute with more than USD 500m in improved liquidity in the
period throughout 2020 and thereby give the Company a significant runway until
an expected market recovery. The plan is a balanced solution where banks,
bondholders and shareholders contribute. The solution requires a raising of USD
100 million in new equity capital and the Company contemplates to raise this
amount via a fully underwritten rights issue, which is subject to customary
conditions. The Company's main shareholder BW Group Limited and the CEO of the
Company Carl Krogh Arnet have pre-committed to subscribe for their pro rata
share of the rights issue. The remaining shares to be issued in the rights issue
are underwritten by a syndicate of banks.

The contemplated rights issue is subject to a special general meeting of the
Company having resolved to increase the authorised share capital of the Company
(expected to be
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