Edition:
United Kingdom

Odfjell Drilling Ltd (ODLL.OL)

ODLL.OL on Oslo Stock Exchange

36.45NOK
16 Feb 2018
Change (% chg)

kr0.35 (+0.97%)
Prev Close
kr36.10
Open
kr36.40
Day's High
kr37.05
Day's Low
kr35.85
Volume
146,409
Avg. Vol
279,816
52-wk High
kr39.90
52-wk Low
kr13.90

Latest Key Developments (Source: Significant Developments)

Odfjell Drilling: Statoil exercises second option for Deepsea Bergen
Monday, 22 Jan 2018 

Jan 22 (Reuters) - Odfjell Drilling Ltd ::ODL - STATOIL EXERCISES SECOND OPTION IN DEEPSEA BERGEN'S DRILLING CONTRACT.‍CONTRACT ORIGINALLY INCLUDED ONE FIRM WELL PLUS 4 X 3 OPTIONAL WELLS.1 OPTION HAS ESTIMATED DURATION OF 75 DAYS.REFERENCE IS MADE TO THE STOCK EXCHANGE NOTICE FROM 31 MAY 2017 WHEREBY STATOIL AWARDED DEEPSEA BERGEN A NEW DRILLING CONTRACT nASN0007F3.OPTION TWO WILL FOLLOW BACK TO BACK WITH PREVIOUSLY ANNOUNCED OPTION ONE.THE CONTRACT VALUE IS AS PREVIOUSLY NOTIFIED​.  Full Article

Odfjell Drilling wins $105 mln Aker BP rig contract
Thursday, 21 Dec 2017 

Dec 21 (Reuters) - Odfjell Drilling Ltd ::‍FIRST CALL-OFF UNDER AKER BP ALLIANCE HAS BEEN RECEIVED TODAY​.COVERS A 12 MONTHS CONTRACT FOR DEEPSEA STAVANGER AND WILL START AS SOON AS UNIT RETURNS TO NORWAY AFTER ITS CONTRACT WITH TOTAL IN SOUTH AFRICA, EXPECTED TO BE IN Q2 2019​.‍FIRM CONTRACT VALUE IS APPROXIMATELY USD 105 MILLION EXCLUDING POTENTIAL PERFORMANCE BONUSES​.  Full Article

Odfjell Drilling Q3 beats forecast, sees signs of market stabilization
Thursday, 23 Nov 2017 

Nov 23 (Reuters) - Odfjell Drilling Ltd :q3 ebitda $‍81​ million (Reuters poll $69.8 million).q3 revenues $‍178​ million (Reuters poll $162 million).q3 ebit $41 million (Reuters poll $31 million).Group's contract backlog is $2.6 billion, whereof $1.3 billion is firm backlog​.Says ‍oil service market remains weak, but sees clear signs of market stabilization and an increasing number of enquiries.Says uncertainties and volatility in today's financial markets represent a risk for the group with respect to funding, and hence the going concern principle, should these market conditions continue over time.Says market for rig financing is still challenging and additional funding sources may not be available to the Group in the future for refinancing existing facilities as they mature.Says with a volatile rig market and illiquid second-hand market, there is a risk that future broker valuations may not meet the minimum value clauses agreed with lenders.Says market outlook and contract situation for the group's mobile offshore drilling units may also affect.covenant risk since reduced revenues from drilling operations directly affect the operating results and cash flow from operations.  Full Article

Odfjell Drilling Q2 above forecast, takes $158.5 mln impairment
Thursday, 25 Aug 2016 

: Odfjell Drilling Q2 revenues $183 million (Reuters poll $192 million) . Odfjell Drilling Q2 EBITDA $73 million (Reuters poll $62.0 million) . Odfjell Drilling Q2 net result $9 million (Reuters poll $2 million) . Says mobile drilling units "Deepsea Atlantic" and "Deepsea Stavanger" have been written-down as at 30 September 2015 in the total amount of USD 158.5 million (not included in Q2 2016 figures but has effect on historical figures, impairment comes after discussions with The financial supervisory authority of Norway. Old figures are restated) . Says have received firm offer from bank syndicate to refinance drilling units Deepsea Atlantic and Deepsea Stavanger . Says drilling and oil service market remains weak with no signs of improvement near term . The Group’s contract backlog is USD 3.0 billion, whereof USD 1.8 billion is firm backlog. The comparable figure at the end of Q2 2015 was USD 4.2 billion, whereof USD 2.2 billion was firm backlog Further company coverage: [ODLL.OL] (Reporting By Joachim Dagenborg) ((joachim.dagenborg@thomsonreuters.com;)).  Full Article

Odfjell Drilling: Norway's FSA requests impairments for two rigs
Thursday, 26 May 2016 

Odfjell Drilling : Q1 revenues $158 million (Reuters poll $155 million) . Q1 EBITDA $44 million (Reuters poll $42.3 million) . Q1 net result $-21 million (Reuters poll $-15.5 million) . Says Norway's FSA has requested impairments for two rigs, company says disagrees and may appeal . Say strategic focus areas are "to strengthen our order backlog and improve our financial flexibility" . Says within the next few years we believe the continued scrapping of older rigs in combination with required exploration and development drilling will bring the market back to balance and subsequent improved day rates . Says weakening of the drilling and oil service market has continued since year-end 2015 and firm do not see any signs of improvement near- to medium term . Order backlog at $3.3 billion .Says is working to conclude the re-financing of $950 million debt facility ahead of November 2016 maturity.  Full Article

Deals of the day-Mergers and acquisitions

Jan 24 The following bids, mergers, acquisitions and disposals were reported by 2030 GMT on Wednesday: