Prosafe SE: Operational update for Q2 2014 - 500 Beiträge pro Seite | Diskussion im Forum

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Utilisation in the second quarter of 2014 was 84 per cent. Regalia, Safe Concordia, Safe Lancia, Jasminia, Safe Hibernia, Safe Britannia and Safe Regency were in full operation throughout the quarter.   The existing contract with Petrobras for …

Lesen sie den ganzen Artikel: Prosafe SE: Operational update for Q2 2014

[R-BgO]

zur Ergänzung der peer-group mal ein paar Ansichtsstücke geholt

[mge]

Die Quartalszahlen sind etwas schwächer als erwartet. Das resultiert in gut 10% Kursverlust heute. Dividende bleibt in etwa auf dem Niveau der Vorquartale und liegt damit bei knapp 10% p.a. Chart bietet bei 40NOK eine ganz gute Unterstützung. Denke über einen Einstieg nach. Nur der mittelfrsitige Ausblick für die Offshore-Driller lässt mich noch zögern. Kurs könnte auch durchaus noch etwas weiter nachgeben.

[R-BgO]

Q4-Divi von 0,89 NOK im Vorjahr auf nun 0,36 NOK gekürzt

[R-BgO]

Antwort auf Beitrag Nr.: 47.495.506 von R-BgO am 12.08.14 15:18:17

Startposi verfünffacht

[mge]

Antwort auf Beitrag Nr.: 48.284.497 von R-BgO am 11.11.14 12:26:46

Wir sind am 5-Jahres-Low. Wie geht dem??
Oder hast du 5-fach zugekauft? Wenn ja - warum gerade hier?
Ich bin mir noch unschlüssig, welchen Wert man verbilligt.

[R-BgO]

Antwort auf Beitrag Nr.: 48.287.665 von mge am 11.11.14 16:27:10

4 fach zugekauft = Position nun 5x so viele Stücke wie zu Beginn

warum hier? Zufall, kaufe seit Wochen im Ölbereich zu

[R-BgO]

und nochmal verdoppelt

[R-BgO]

Divi wird eingedampft:

Dividend approved

The Board of Directors has resolved to declare an interim dividend equivalent to USD 0.048 per share to shareholders of record as of 19 February 2015.
The shares will trade ex dividend on 18 February 2015. The dividend will be paid in the form of NOK 0.36 per share on 3 March 2015.

Prosafe is the world's leading owner and operator of semi-submersible accommodation/service rigs. Operating profit reached USD 248.3 million in 2014 and net profit was USD 178.8 million. The company operates globally, employs 800 people and is headquartered in Larnaca, Cyprus. Prosafe is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com.

Larnaca, 9 February 2015
Georgina Georgiou, General Manager
Prosafe SE

[al_sting]

Als jemand, der erst vor zwei Wochen einstieg, finde ich die Zahlen sehr stark und die Dividende erstaunlich hoch - mich hätte auch ein Dividendenausfall nicht gestört.
Nur mal ein paar Zahlen zum Vergleich:
Operativer Gewinn 2014: 248 Mio USD
Net Profit 2014: 179 Mio USD
Marktkapitalisierung: 738 Mio USD
Und mit einer Quartalsdividende von 1,6% auf den Einstiegspreis bin ich auch mehr als zufrieden.

[R-BgO]

Antwort auf Beitrag Nr.: 49.021.880 von al_sting am 09.02.15 18:23:43

Du hast völlig recht

habe im ersten Moment nicht kapiert, dass die letzte Q-Divi auch schon auf dem Niveau war.

Und die Bewertung ist wirklich niedrig, deswegen habe auch ich ja nach und nach aufgestockt.

Unklar ist für mich aber, ab wann die Wirkung des Tals wirklich durchschlägt (wenn überhaupt).

[al_sting]

Antwort auf Beitrag Nr.: 49.027.289 von R-BgO am 10.02.15 11:17:07

"Unklar ist für mich aber, ab wann die Wirkung des Tals wirklich durchschlägt (wenn überhaupt)."
Mich treiben dazu zwei Fragen um, vielleicht kannst du mir dabei helfen:
- Werden die Versorgungsschiffe von Prosafe auch benötigt, wenn Rigs komplett außer Betrieb genommen werden? In dem Fall sollte die Krise Prosae erst einmal auslasten und das Loch deutlich später kommen, daher könnte das einen Hinweis au die kurzfristige Nachfrageentwicklung geben.
- Mittelfristig rechne ich mit einem Ölpreis von durchschnittlich 75-80$. Wie hoch ist der Anteil der bestehenden und geplanten Plattormen, die zu diesen Preisen nicht ökonomisch produzieren können? Das sollte einen Hinweis auf die langfristigen Nachfrageentwicklungen geben.

[R-BgO]

Antwort auf Beitrag Nr.: 49.027.520 von al_sting am 10.02.15 11:41:19

es sind ja streng genommen keine Versorgungsschiffe, sondern Mannschaftsunterkünfte;

d.h. solange auf den Plattformen Leute gebraucht werden, benötigt man auch Unterkünfte

Ein Rückgang der NEU-Bohraktivität wirkt sich also nur auf einen Teil des Geschäfts aus, da der Betrieb einmal produzierender Bohrungen mit Sicherheit nicht eingestellt werden wird.


Nehme die Verlängerung der Finanzierung mal zum Anlaß, erneut zu verdoppeln...

[al_sting]

Antwort auf Beitrag Nr.: 49.028.477 von R-BgO am 10.02.15 13:13:54

Jein.
Für den normalen Betrieb haben die meisten Rigs schon Unterkünfte. Service-ships werden im Allgemeinen benötigt, wenn etwas Besonderes vorliegt und die Anzahl der Arbeiter vor Ort temporär steigt.
Reparaturen und Wartungsaufgaben, Installation, aber wahrscheinlich auch Vorbereitung zum Abtransport.

"da der Betrieb einmal produzierender Bohrungen mit Sicherheit nicht eingestellt werden wird."
Oh doch!
Selbst beim Namensgeber des Nordseeöls, beim Ölfeld Brent, wird jetzt die Förderung beendet. http://www.bbc.com/news/uk-scotland-north-east-orkney-shetla…

[R-BgO]

Antwort auf Beitrag Nr.: 49.028.765 von al_sting am 10.02.15 13:37:39

Habe mich wohl missverständlich ausgedrückt.

Natürlich wird irgendwann der Betrieb jeder Bohrung eingestellt: wenn nicht mehr genug Öl nachkommt.

Solange das aber nicht der Fall ist -und das meinte ich mit "produzierend"- sind die cash-Kosten der Förderung so viel niedriger als die oft genannten break-even-costs (wegen der darin mit berücksichtigten Kapitalkosten), dass es sich auch bei einem Preisniveau von 30$ noch "lohnen" (=im Sinne von cash-positiv sein) dürfte, die PRoduktion weiterlaufen zu lassen.


Geirrt habe ich mich aber mit meiner Einschätzung, wie sich das aufs Geschäft von Prosafe auswirkt. Danke für Deine Klarstellung.

[al_sting]

Antwort auf Beitrag Nr.: 49.037.960 von R-BgO am 11.02.15 12:24:12

"Natürlich wird irgendwann der Betrieb jeder Bohrung eingestellt: wenn nicht mehr genug Öl nachkommt."
Es geht in Details, aber natürlich ist es auch hier nicht so einfach. Öl kommt nur eine Weile freiwillig nach. Irgendwann wird mit verschiedenen Methoden nachgeholfen, um die Ergiebigkeit des Vorkommens zu steigern. Und diese "Nachhilfe" kostet natürlich auch Geld.
Daher ist es schon eine Frage der Ölpreise, wie hoch die Ausbeute aus Ölfeldern ist.
Und gerade bei ziemlich erschöpften Ölfeldern, wie wir sie in der Nordsee sehen, wird das schon interessant. Die Briten haben nicht ganz zufällig Angst, dass ihre komplette Ölindustrie zusammenkracht.
Das sehe ich zwar nicht, auch weil man notfalls die Steuern senkt etc. pp., aber ich rechne schon mit einem früheren obzw. sehr baldigen Förderende für einige Bohrinseln aufgrund der gesunkenen Ölpreise.
Daher meine Frage, bei wie vielen Bohrinseln die Förderung bei 80$ pro Barrel ökonomisch ist, bislang dürfte man mit 100$ als Schwellwert gerechnet haben.

[R-BgO]

Prosafe SE: Operational update Q2 2015

The fleet utilisation rate in the second quarter of 2015 was 58 per cent. Regalia, Safe Astoria, Safe Regency, Safe Lancia and Safe Hibernia were fully contracted during the quarter.

Safe Britannia underwent a planned DP upgrade during the second quarter and was off-hire for 30 days. Jasmina is still off-hire after going off contract in late February 2015.

Safe Concordia completed a five-year Special Periodic Survey and upgrade works at the Maua Shipyard in Brazil during the quarter. The contract with Petrobras re-commenced on 30 June 2015.

The new build Safe Boreas arrived in Norway in April. The contract with Lundin Norway AS for support in connection with the hook-up and commissioning of the Edvard Grieg platform in the North Sea commenced in mid-May.

Safe Caledonia was contracted to Nexen Petroleum U.K. until the end of April. The contract with BP Exploration Operating Company Limited for support at the Andrew field in UK commenced on 10 July 2015.

The contract for Safe Astoria with Shell Philippines Exploration B.V. at the Malampaya field has been extended by another 15 days until mid-August.

Safe Bristolia completed repair work at the Hanøytangen shipyard in Norway during the quarter. The contract with BG International Limited for work at the Everest field in UK commenced on 1 June 2015 in accordance with the announcement made on 22 May 2015.

The conversion of Safe Scandinavia to a Tender Support Vessel at the Westcon yard in Ølensvåg, Norway, continued during the second quarter. The project is experiencing some further delays and the start-up of the contract for Statoil is expected in the fourth quarter of 201

As a result of the extended yard stays for Safe Scandinavia and Safe Concordia, as well as further cost increases related to the Safe Bristolia repair work the total capital expenditure for 2015 is expected to increase by 5 to 10 per cent relative to previous guidance.

Prosafe is the world's leading owner and operator of semi-submersible accommodation vessels. Operating profit reached USD 248.3 million in 2014 and net profit was USD 178.8 million. The company operates globally, employs 800 people and is headquartered in Larnaca, Cyprus. Prosafe is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com.

Larnaca, 29 July 2015

[R-BgO]

Antwort auf Beitrag Nr.: 50.327.439 von R-BgO am 04.08.15 12:31:57

in Q1 waren es noch 80%

=> dürfte ein Verlust geworden sein

[R-BgO]

gute Zahlen, Dividende gestrichen

[R-BgO]

Prosafe SE : Marine project re-phasing agreed

January 04, 2016

Prosafe and Statoil (U.K.) Ltd ("Statoil") have agreed to re-phase the Mariner Project in the UK Continental Shelf of the North Sea from 2016 into 2017, and extend the firm hire duration from 8 months to 13 months.

Operations at the Statoil Mariner platform will commence within Q3 2017 and will be performed by either the Safe Zephyrus or Safe Boreas accommodation support vessel. In addition to the revised extended firm hire duration, Prosafe has granted Statoil six additional one-month options linked to the Mariner project.

Total value of the re-phased and extended firm hire duration for the Mariner Project has increased from USD 76.3 million to approximately USD 131.8 million, including a re-phasing charge payable in 2016.

[R-BgO]

Zahlen kam gestern,

immerhin noch ein nennenswerter Gewinn fürs Gesamtjahr, auch wenn man in Q4 Miese gemacht hat;

außerdem hatte ich gar nicht mitbekommen, dass sie in Q4 noch eine KE gemacht hatten.

KBV aktuell 0,44

[al_sting]

Ten out of 14 Prosafe rigs to be out of operation
http://af.reuters.com/article/energyOilNews/idAFL5N16F2ZW

[R-BgO]

Nicht gut (Leverage will kill you every time):

Company update April 2016

Since Prosafe SE's ("Prosafe" or the "Company") Q4 2015 report, the offshore oil services market has continued to deteriorate following the oil price decline.

For Prosafe, this negative development has been coupled with

*a further delay in the start-up of the Safe Scandinavia Tender Support Vessel (“TSV”),
*suspension of additional Mexico contracts as separately announced (including cancellation of a letter of intent for a new 4.5 year contract of ca USD 145 million for Safe Notos) and a consequent deterioration of Prosafe’s contract backlog,
*as well as the unavailability of the bond market as a refinancing source.

As a consequence, Prosafe was likely to enter into a situation where its financial covenants would be under pressure. The Company has therefore engaged legal and financial advisors and initiated a review of the Company’s strategic options and funding situation.

Prosafe is in an ongoing dialogue with the Company’s key stakeholders, including the main shareholders, bondholders, bank lenders and yards, and the Company is currently working with stakeholders and advisors to evaluate alternatives to improve the financial situation.

The Company has obtained a reduced minimum liquidity bank covenant of USD 20 million until the end of the third quarter 2016. This temporary reduced level is applicable to both the USD 1.3 billion facility and the USD 288 million newbuild facility.

In addition the Company will utilize the 2nd skipped payment option that was granted by the banks in the previous amendment process closed around year-end 2015.

Further amendments to the bank and bond agreements will however be required in order to secure a robust financial foundation and to safeguard and further strengthen Prosafe’s market leading position in the industry. The dialogue is constructive and the Company intends to communicate its updated financial plan during the second quarter of 2016.

As a result of the negative developments following the preliminary Q4 2015 report, the Company has incurred additional impairment charges to those included in the preliminary Q4 2015 report. These impairment charges totalling USD 145.6 mill are further explained in the 2015 Annual Report.

Aggregate capital expenditure (capex) for 2016 remains in line with previous indications of USD 700 million. This figure includes final capex related to the completion of the TSV conversion which in total has cost in excess of USD 300 million compared to the USD 140 million initially budgeted, as well as the last three newbuild vessels of which the Safe Notos and the Safe Zephyrus were delivered early 2016.

However, given recent shifts in the contract portfolio the Company is working with the yard to find an amicable solution regarding the delivery of the Eurus and thereby reduce actual 2016 capex compared to above figure. In this context it should also be noted that the Company is likely to contest parts of the additional costs incurred on the TSV conversion project.

As previously announced, the TSV commenced operations for Statoil on the Oseberg East field in March. The Company has been working to optimize the fleet deployment and utilization in a situation where the fleet renewal strategy is being completed while the market is historically soft and contracts are being suspended.

Examples of measures to optimize the fleet are deferred deliveries, seller's credits and the replacement of Safe Boreas for Safe Notos for Talisman in the UK. In addition the Company has decided to scrap three of its oldest units, respectively the Jasminia, Hibernia and Safe Britannia, and to cold stack other units starting with the Safe Astoria. Through these measures the Company is seeking to reinforce its market leading position and contribute to a necessary restructuring of the industry while also reducing cost.

The Company is currently in dialogue for potential employment of uncontracted vessels, including Safe Notos. The board currently anticipates that the Company will deliver an EBITDA in 2016 of between USD 170 mill and USD 220 mill depending on the outcome of these contract discussions.

* * * * *

The board of Prosafe has resolved to appoint Stig H. Christiansen as the new interim chief executive officer (CEO) for Prosafe Management AS. He will replace Karl Ronny Klungtvedt, who has agreed to step down. Mr. Christiansen will take up the position immediately and will continue to serve as the CFO of Prosafe in addition to his position as acting chief executive officer.

In due course, the board will start a recruitment process for a new permanent CEO evaluating both internal and external candidates for the position.

The board looks forward to working with Mr. Christiansen on the challenges facing the Company. Mr. Christiansen is experienced as both a former CEO and CFO and will be a key asset over the coming months.

[R-BgO]

zur Verlustrealisierung verkauft

[R-BgO]

July 26, 2016

Prosafe SE: Reorganisation and rationalisation program

As part of its cost efficiency measures reported in connection with the company's Q1 2016 report, Prosafe is implementing a reorganisation of the group's shore-based business resulting in a leaner organisation, a smaller and partly changed group management team and a rationalisation program across its workforce.

Governed from the head office in Cyprus, the new organisational model of the group is based on the principle of a lean line organisation focusing on the core business of safe and efficient management of the fleet.

As part of this change, Robin Laird, current deputy Chief Executive Officer, will assume the position as acting Chief Financial Officer, while Stig H. Christiansen continues as acting Chief Executive Officer. As stated in the press release from 27 April 2016, the Board of Directors will in due course start a recruitment process for a new permanent CEO evaluating both internal and external candidates for the position.

The rationalisation is necessary to ensure that the Prosafe group remains competitive in the current difficult market conditions and in a solid position for future growth when the industry starts to recover. The proposed work-force rationalisation is ongoing and will occur gradually throughout the remainder of 2016. The rationalisation program includes a substantial head-count reduction across the group.

The Group's target is to reduce annual costs by at least USD 30 to 40 million. This should start to show effect from Q3 and gradually throughout the second half of 2016 as the rationalisation program takes effect and capacity is adjusted to a falling activity level. In addition, the target is also to reduce capex spend noticeably in the near and medium term to protect the financial position. Further updates will be provided as part of the Q2 2016 report late August.

Prosafe is the world's leading owner and operator of semi-submersible accommodation vessels. The company operates globally and is headquartered in Larnaca, Cyprus. Prosafe is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com

Larnaca, 26 July 2016
Georgina Georgiou, General Manager

[R-BgO]

vor 3 Woche gab es eine:

DAS nenne ich einen haircut...

[R-BgO]

Antwort auf Beitrag Nr.: 52.916.506 von R-BgO am 26.07.16 12:05:07

November 09, 2016

Prosafe SE: Completion of the Subsequent Offering

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES

Reference is made to announcement of 1 November 2016 concerning the final results of and allocation of shares in the subsequent offering (the "Subsequent Offering") of new ordinary shares (the "Offer Shares") in Prosafe SE ("Prosafe" or the "Company") at a subscription price of NOK
0.25 per Offer Share.

Settlement of the Subsequent Offering has now been completed and 504,000,000 new ordinary Offer Shares have been issued and registered in the Norwegian Central Securities Depository (VPS). Pursuant to the terms of the prospectus dated 14 October 2016, the Offer Shares will, subject to due payment, be delivered to investors today. The Offer Shares are tradable on Oslo Børs.

Following the completion of the Subsequent Offering and previous conversion of Class A-shares, the Company's total number of issued and outstanding shares now consists of 6,553,010,116 ordinary shares.

Prosafe is the world's leading owner and operator of semi-submersible accommodation vessels. The Company is headquartered in Larnaca, Cyprus and listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com

[R-BgO]

Antwort auf Beitrag Nr.: 52.916.506 von R-BgO am 26.07.16 12:05:07

November 10, 2016

Prosafe SE : Prosafe to further rightsize its fleet - letter of intent to acquire Axis Nova and Axis Vega

Prosafe SE ("Prosafe" or the "Company") has entered into a letter of intent ("LOI") with Axis Offshore Pte. Ltd. ("Axis") for the potential acquisition of all outstanding shares in the two single purpose companies Axis Nova Singapore Pte. Ltd. ("Axis Nova SPV") and Axis Vega Singapore Pte. Ltd. ("Axis Vega SPV") (jointly the "New-Build Companies"), and 25% of the shares in Dan Swift Singapore Pte. Ltd. (the "Dan Swift Shares"). The agreed consideration for the acquisition will be USD 70 million (NOK 579.2 million) settled by Prosafe in kind, through the issuance of 585.8 million ordinary shares priced at NOK 0.30 per share, and a subordinated zero coupon convertible bond of NOK 403.4 million, convertible into 1,344.7 million shares at a conversion price of NOK 0.30 per share.


Industrial context

The offshore accommodation vessels market is currently in a challenging situation with significant growth in supply combined with a recession in the oil and gas industry. Prosafe's strategy is to take a leading role to improve the situation in the market through cost reductions on all levels, fleet renewal, scrapping of older units, conversion of vessels to alternative uses and strategic consolidation.

Having followed the development of the Axis Nova and Axis Vega, which is built next to Prosafe's own rigs at the same yard, Prosafe believes on first-hand knowledge that the contemplated transaction offers an attractive opportunity to acquire the two high specification, harsh environment semi-submersible new-builds at low risk. Prosafe considers the contemplated acquisition to be value enhancing from an industrial and financial point of view, and that it has limited risk since the transaction is further based on Axis Nova and Axis Vega coming with cancellation rights and refund bank guarantees of USD 60 million. The refund guarantee can be claimed in the event that Prosafe chooses to not take delivery of the new-builds due to weak market conditions, or otherwise. This will provide additional liquidity to the Company in a downside scenario.

[R-BgO]

Antwort auf Beitrag Nr.: 52.589.216 von R-BgO am 10.06.16 16:11:31

und nu

doch wieder mit ein paar Ansichtsstücken dabei

[R-BgO]

vielleicht kriegen sie doch noch die Kurve: Q4 war positiv

[R-BgO]

[R-BgO]

weiter tiefrot

[R-BgO]

Sitz nach Norwegen verlegt