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Odfjell Drilling Ltd (ODLL.OL)

ODLL.OL on Oslo Stock Exchange

35.00NOK
16 Oct 2018
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Latest Key Developments (Source: Significant Developments)

Odfjell Drilling Q2 EBITDA beats forecast
Wednesday, 29 Aug 2018 

Aug 29 (Reuters) - Odfjell Drilling Ltd ::ODFJELL DRILLING Q2 REVENUES $175 MILLION (REUTERS POLL $163 MILLION).ODFJELL DRILLING Q2 EBITDA $66 MILLION (REUTERS POLL $59 MILLION).  Full Article

Odfjell Drilling signs $160 mln drilling contract with Equinor
Friday, 25 May 2018 

May 25 (Reuters) - Odfjell Drilling Ltd ::ODFJELL DRILLING SIGNS DRILLING CONTRACT WITH EQUINOR FOR DEEPSEA ATLANTIC RIG .CONTRACT IS FOR 6 FIRM WELLS WITH AN ESTIMATED TOTAL DURATION OF 18 MONTHS, SCHEDULED TO COMMENCE IN EARLY Q1 2019.CONTRACT VALUE IS ESTIMATED TO USD 160 MILLION, INCLUDING SOME THIRD PARTY SERVICES.ODFJELL DRILLING ALSO SIGNED A MASTER FRAME AGREEMENT WITH EQUINOR FOR ALL DRILLING UNITS IN FLEET.THE MASTER FRAME AGREEMENT WILL PROVIDE FOUNDATION FOR ANY FUTURE RIG REQUIREMENTS WHICH MAY BE AGREED BETWEEN THE PARTIES.  Full Article

Odfjell Drilling sees increased appetite for oil exploration
Friday, 25 May 2018 

May 25 (Reuters) - Odfjell Drilling Ltd ::ODFJELL DRILLING Q1 EBITDA $56 MILLION (REUTERS POLL $57.8 MILLION).ODFJELL DRILLING Q1 REVENUES $ 175 MILLION (REUTERS POLL $157 MILLION).SAYS A RECOVERY IN THE OIL PRICE HAS RESULTED IN AN INCREASED APPETITE FOR EXPLORATION AND PRODUCTION ACTIVITIES BY THE OIL COMPANIES.SAYS THE ULTRA-DEEP WATER MARKET REMAINS CHALLENGING DUE TO AN OVERSUPPLY OF NEW BUILD RIGS IN RECENT YEARS.SAYS SCRAPPING OF OLDER MIDWATER AND HARSH ENVIRONMENT DRILLING UNITS OVER NEXT FEW YEARS WILL BRING THE HARSH ENVIRONMENT MARKET BACK INTO BALANCE WITH SUBSEQUENTLY IMPROVED DAY RATES.SAYS WELL SERVICES STILL FACING FIERCE COMPETITION GLOBALLY AND OVER-SUPPLY OF EQUIPMENT CONTINUES TO KEEP PRESSURE ON PRICES.  Full Article

Odfjell Drilling to issue 38 mln new shares
Wednesday, 16 May 2018 

May 16 (Reuters) - Odfjell Drilling Ltd ::BOARD TO ISSUE 38,000,000 NEW COMMON SHARES OF USD 0.01 EACH ( "PRIVATE PLACEMENT SHARES") IN CONNECTION WITH PRIVATE PLACEMENT.FOLLOWING THE ISSUANCE OF THE PRIVATE PLACEMENT SHARES, THE COMPANY'S ISSUED SHARE CAPITAL WILL BE INCREASED WITH USD 380,000, FROM USD 1,987,369 TO USD 2,367,369.  Full Article

Odfjell Drilling raises $175 mln in private placement, share price NOK 36
Thursday, 19 Apr 2018 

April 20 (Reuters) - Odfjell Drilling Ltd ::SAYS PRIVATE PLACEMENT HAS BEEN SUCCESSFULLY SUBSCRIBED, RAISING GROSS PROCEEDS OF NOK 1.368 BILLION, EQUIVALENT TO APPROXIMATELY USD 175 MILLION THROUGH ISSUANCE OF 38 000 000 NEW COMMON SHARES AT A SUBSCRIPTION PRICE OF NOK 36.00 PER OFFER SHARE.THE COMPANY INTENDS TO CARRY OUT A SUBSEQUENT OFFERING OF UP TO 4 327 778 NEW COMMON SHARES RAISING GROSS PROCEEDS OF UP TO NOK 155.8 MILLION.THE SUBSCRIPTION PRICE IN THE SUBSEQUENT OFFERING WILL BE THE SAME AS IN THE PRIVATE PLACEMENT, I.E. NOK 36 PER SHARE.ABG SUNDAL COLLIER, ABN AMRO BANK N.V., DANSKE BANK, DNB MARKETS, NORDEA BANK AB (PUBL), PARETO SECURITIES AS AND SPAREBANK 1 MARKETS AS ACTED AS JOINT LEAD MANAGERS AND BOOKRUNNERS FOR THE PRIVATE PLACEMENT..  Full Article

Odfjell Drilling - Private placement of up to USD 200 mln
Thursday, 19 Apr 2018 

April 19 (Reuters) - Odfjell Drilling Ltd ::IS CONTEMPLATING TO OFFER NEW COMMON SHARES IN A PRIVATE PLACEMENT RAISING GROSS PROCEEDS OF UP TO APPROXIMATELY NOK 1.56 BILLION, EQUIVALENT TO UP TO APPROXIMATELY USD 200 MILLION.NET PROCEEDS FROM PRIVATE PLACEMENT WILL BE USED TO FINANCE COMPANY'S GROWTH AMBITIONS AND FOR GENERAL CORPORATE PURPOSES.ODFJELL DRILLING IS CONSIDERING VARIOUS OPPORTUNITIES FOR GROWTH AND ONE OPPORTUNITY IS POTENTIAL PURCHASE OF "STENA MIDMAX RIG".NO DECISION HAS BEEN MADE TO PURCHASE UNIT, COMPANY MAY SELECT OTHER ALTERNATIVES TO REALISE ITS GROWTH AMBITIONS AND COMPLETION OF PRIVATE PLACEMENT IS NOT CONDITIONAL UPON COMPANY'S PURCHASE OF UNIT.IN EVENT THAT COMPANY SHOULD DECIDE TO PURCHASE UNIT, UNIT WILL AMONGST OTHER ALSO BE FINANCED THROUGH ISSUANCE OF PREFERENCE SHARES AND WARRANTS TO BE SUBSCRIBED BY AKASTOR AS OR AN AFFILIATE.HAS RETAINED ABG SUNDAL COLLIER, ABN AMRO BANK N.V., DANSKE BANK, DNB MARKETS, NORDEA BANK, PARETO SECURITIES AS AND SPAREBANK 1 MARKETS AS JOINT LEAD MANAGERS AND BOOKRUNNERS FOR THE PRIVATE PLACEMENT. .  Full Article

Odfjell Drilling wins $160 mln contract from Statoil offshore Norway
Monday, 16 Apr 2018 

April 16 (Reuters) - Odfjell Drilling Ltd ::ODL - STATOIL AWARDS A CONDITIONAL LETTER OF INTENT.ODFJELL DRILLING IS PLEASED TO ANNOUNCE THAT STATOIL HAS AWARDED A CONDITIONAL LETTER OF INTENT (LOI) FOR A DRILLING CONTRACT FOR DEEPSEA ATLANTIC FOR 6 FIRM WELLS WITH AN ESTIMATED TOTAL DURATION OF 18 MONTHS.CONTRACT IS SCHEDULED TO COMMENCE IN EARLY Q1 2019.CONTRACT VALUE IS ESTIMATED TO USD 160 MILLION (INCLUDING SOME THIRD PARTY SERVICES, E.G. CASING RUNNING SERVICES BY ODFJELL WELL SERVICES) PLUS POTENTIAL INCOME FROM CONTRACT INCENTIVE MODEL.CONTRACT CONTAINS OPTION TO CONTINUE OPERATIONS FOR STATOIL AFTER FIRM PERIOD, AND SUCH OPTIONS SHALL BE BASED ON MARKET PRICING.  Full Article

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

CORRECTED-Maersk Drilling strong enough to stand on its own after listing -CEO

STAVANGER, Norway, Aug 28 Drilling rig contractor Maersk Drilling will provide strong competition for its peers when it is spun off from the A.P. Moller-Maersk conglomerate next year, its chief executive said on Tuesday.