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Dof ASA (DOF.OL)

DOF.OL on Oslo Stock Exchange

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2 Dec 2016
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Latest Key Developments (Source: Significant Developments)

Dof announces contract extensions for three vessels
Thursday, 29 Sep 2016 09:44am EDT 

Dof ASA : In Norway Statoil has extended the contract for Skandi Mongstad with one year from Oct. 2016 . In Argentina Total Austral has extended the contract for Skandi Møgster with 6 months from Oct. 2016 . In Canada the contract for Skandi Flora has been extended with one well with estimated duration of 6 months .Assumed average EBITDA/day from the above contracts is about 40,000 - 45,000 Norwegian crowns ($5,000 - $5,600) per vessel.  Full Article

DOF's CEO says expects 2017 to be much tougher than 2016
Wednesday, 17 Aug 2016 04:19am EDT 

Oil services firm DOF's CEO Mons Aase made the following comments during the company's second quarter earnings presentation: 2017 will be much tougher than 2016 in oil service, we have to prepare for 2017 to be a hard ride for all of us . Says completed refinancing in DOF is a "one-fix" if the markets turn better within 2020 . Has around 80 pct backlog for the second half of 2016 . Q2 EBITDA was NOK 685 mln and was a little bit better than budget . We keep the range we have guided on (EBITDA in range of NOK 2.9-3.3 bln in 2016). Now we have done August and the risk in that guidance is coming down . Has 50 pct contract backlog for 2017, aims to increase that . Subsea division is doing well and is expected to increase earnings due to new contracts (DOF has 3 boats left in newbuilding program which will go on long term contracts) wile supply division is struggling . North Sea is probably the toughest market and where we see most competition, it will be a tough ride in UK and Norway in winter and in 2017 . DOF has a fleet of 67 subsea, construction and supply vessels . Will continue to cut costs and adjusts capacity to market activity Further company coverage: [DOF.OL] (Reporting By Ole Petter Skonnord, editing by Terje Solsvik) ((olepetter.skonnord@thomsonreuters.com;)).  Full Article

DOF Subsea awarded new contract for vessel Skandi Salvador in Brazil
Wednesday, 17 Aug 2016 02:05am EDT 

Dof ASA : In Brazil, Petrobras has awarded a new contract for the vessel Skandi Salvador for a period of 1 year firm and with 1 year option .During Q2 and so far in Q3 2016, DOF Subsea has secured contracts with a total value of 3.3 billion Norwegian crowns ($402.55 million) including options.  Full Article

DOF ASA Q2 EBITDA falls to NOK 685 million
Wednesday, 17 Aug 2016 02:00am EDT 

DOF ASA : Q2 operating income 2.36 billion Norwegian crowns ($290 million) versus 2.78 billion crowns year ago . Q2 EBITDA 685 million crowns versus 928 million crowns year ago . Maintains its expectations for the full year 2016 regarding ebitda as earlier reported . Expects that the group revenues and utilisation of the fleet will decline going forward .Expects the operational EBITDA for Q3 to be lower than the operational EBITDA for Q2.  Full Article

DOF signs PSV contracts in the North Sea
Tuesday, 9 Aug 2016 08:24am EDT 

DOF ASA :DOF has secured extension with Maersk UK for Skandi Gamma until end of 2016 and for Skandi Caledonia with Apache North Sea Ltd until mid-January 2017.  Full Article

DOF Subsea awarded 5+2+2 year IMR and vessel contract
Friday, 29 Jul 2016 03:15am EDT 

Dof ASA : Shell Australia has awarded DOF Subsea a five-year contract with 2x two year options to provide a fulltime underwater services and multi-purpose supply vessel (MPSV) to the Prelude FLNG facility .The facility will be located in Western Australia.  Full Article

Dof: Final result of rights issue and transactions by primary insiders
Thursday, 28 Jul 2016 03:45am EDT 

Dof ASA : At the expiry of the subscription period, the Company had received subscriptions for a total of 1,059,869,852 Offer Shares .Company will use proceeds from rights issue in excess of Norwegian crowns 850 million to offer to repurchase bonds in new subordinated convertible bond with a nominal value of 1,032.5 million crowns.  Full Article

Dof gets required consents from lending banks regarding new senior loan facility
Friday, 15 Jul 2016 08:29am EDT 

Dof ASA : Received required consents from all its lending banks regarding a new senior loan facility in DOF Rederi AS of 3,8 billion Norwegian crowns ($4.54 billion) .Company's banks will as part of refinancing contribute with a 75 pct reduction of amortizations on bank facilities in DOF Rederi AS and the 50 pct-owned DOF Deepwater AS for a three year period with a total liquidity effect of 1,300 million crowns.  Full Article

Dof chairman says firm primarily aims to continue on its own
Tuesday, 28 Jun 2016 07:00am EDT 

Dof Asa : Chairman Helge Moegster told Reuters he does not plan to any initiatives with regards to consolidation in oil service shipping industry . Moegster says Dof primarily aims to continue on its own . Moegster says believes the company could see increased demand for its services in 2018/2019 Further company coverage: [DOF.OL] (Reporting By Henrik Stolen, editing by Terje Solsvik) ((terje.solsvik@thomsonreuters.com;)).  Full Article

DOF: Contract on Skandi Niterói from Petrobras
Monday, 20 Jun 2016 03:14am EDT 

DOF ASA : Gets Contract on Skandi Niterói from Petrobras . Contract is for about eight months firm and with eight months options .Contract to commence immediately.  Full Article