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DOF.OL on Oslo Stock Exchange

21 Apr 2017
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Latest Key Developments (Source: Significant Developments)

DOF: Pipelay vessel Skandi Búzios starts 8 year Petrobras contract as scheduled
Wednesday, 19 Apr 2017 01:00am EDT 

April 19 (Reuters) - Dof Asa ::DOF Subsea<<>> and Technipfmc<<>>: Skandi Búzios, a pipelay support vessel (plsv) owned by DOF subsea (50 pct) and Technipfmc<<>> (50 pct), commenced its 8-year charter contract with Petrobras, as scheduled on April 13th.Mons S. Aase, DOF Subsea's Chief Executive Officer, says: "This milestone project is the result of our long- term focus on the Brazilian market. We are proud of this significant addition to our Brazilian fleet.".  Full Article

DOF adds vessel Far Shogun to its fleet
Monday, 13 Mar 2017 02:38am EDT 

DOF ASA : Said on Friday its Norwegian unit had signed agreement with Farstad Supply AS regarding purchase Far Shogun . Delivery is agreed between June 15 and July 15, 2017 . Will enter into management agreement with new owner for management and operation of vessel . Has further option to purchase the vessel at price corresponding to outstanding debt or about 50-6o pct of historical build costs .Far Shogun is Anchor handling Tug Supply Vessel and will be renamed Skandi Bergen after takeover.  Full Article

DOF Subsea secures mooring contract in Atlantic region
Friday, 10 Mar 2017 02:59am EST 

Dof ASA :Says DOF Subsea has been awarded a contract in Atlantic region for mooring installation of an FPSO on UKCS (North Sea).  Full Article

Dof Subsea: successful placement of new unsecured bond issue
Monday, 6 Mar 2017 03:00am EST 

Dof ASA : Successfully completed a new unsecured bond issue of $175 million with maturity date in March 2022 .In connection with placement of new bond issue, dof subsea as has repurchased bonds with nominal value of 792 million Norwegian crowns ($94 million) in existing bond issue DOFSUB07 with maturity in May 2018.  Full Article

Dof ASA unit contemplating new unsecured bond issue
Wednesday, 1 Mar 2017 02:45am EST 

Dof Asa : DOF Subsea AS, a subsidiary of DOF ASA is contemplating the issuance of new unsecured bonds with maturity in March 2022 .The net proceeds will be used to refinance the existing bonds maturing in May 2018, and for general corporate purposes.  Full Article

Dof sells vessel Skandi Waveney
Tuesday, 28 Feb 2017 01:51am EST 

Dof ASA : Sold its PSV vessel Skandi Waveney, built 2001, to a company outside Norway .Sale will not have any impact of significance on accounting or cash position of owner company.  Full Article

DOF signs contract for Skandi Olympia
Thursday, 23 Feb 2017 05:24am EST 

DOF ASA :Fugro Subsea Services Limited and DOF have signed new 6 month contract plus options for Skandi Olympia commencing in March.  Full Article

DOF: uncertainty still high but believes market bottomed out
Friday, 17 Feb 2017 03:47am EST 

CEO Mons Aase of oil services firm DOF ASA made the following statements during a Q4 earnings presentation on Friday: Says current backlog 57 percent of fleet in 2017, expects it to increase next quarters . Says activity has bottomed out, probably we will see a gradual increase, tender activity is high . Says 2017 will be challenging but we have all been prepared for that . Says rates are still depressed and in PSV segment (platform supply vessels) tenders are at OPEX minus lay-up costs . Says high uncertainty but our best 2017 ebitda estimate range is nok 2.4 billion to 2.8 billion versus Reuters consensus of NOK 2.8 bln and versus 3.02 billion in 2016 . Hopes it could beat its own forecast and believes NOK 3 bln is possible, thought that is not the official forecast . The firm with 69 oil services vessels has a total backlog of NOK 60 bln, of which NOK 27 bln is firm and NOK 33 bln in options . DOF Shares down 7 pct to 1.06 crowns after booking impairments of NOK 413 million in Q4, giving an operating loss of NOK 2 mln compared to a profit of NOK 395 mln a year ago Further company coverage: [DOF.OL] (Reporting by Ole Petter Skonnord, edioting by Terje Solsvik) ((olepetter.skonnord@thomsonreuters.com;)).  Full Article

Dof ASA Q4 EBITDA down at NOK 695 million
Friday, 17 Feb 2017 01:29am EST 

Dof ASA : Reported on Thursday Q4 operating income 1.91 billion Norwegian crowns ($230 million) versus 2.61 billion crowns year ago . Q4 EBITDA 695 million crowns versus 818 million crowns year ago . Q4 EBIT loss 21 million crowns versus profit 395 million crowns year ago . Average utilisation of Group's fleet during Q4 was 82 pct . Expects lower operational EBITDA in 2017 compared to operational EBITDA in 2016 .Said market is expected to be challenging in 2017, which will increase the risk for lower utilisation for the Group's vessels compared to 2016.  Full Article

DOF: DOF Subsea receives contract for MSV Geoholm
Tuesday, 14 Feb 2017 03:00am EST 

DOF ASA : TechnipFMC in Australia awards contract for the supply of MSV Geoholm to DOF Subsea .Contract is for provision of MSV Geoholm for Prelude FLNG project, operated by Shell Australia.  Full Article

More From Around the Web

BRIEF-DOF: Pipelay vessel Skandi Búzios starts 8 year Petrobras contract as scheduled

* DOF Subsea and Technipfmc: Skandi Búzios, a pipelay support vessel (plsv) owned by DOF subsea (50 pct) and Technipfmc (50 pct), commenced its 8-year charter contract with Petrobras, as scheduled on April 13th