Key Developments: Eurasia Drilling Company Ltd (EDCLq.L)

EDCLq.L on London Stock Exchange

17.50USD
24 Dec 2014
Price Change (% chg)

$0.80 (+4.79%)
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$16.70
Open
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Volume
544
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$46.50
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Latest Key Developments (Source: Significant Developments)

Eurasia Drilling Company Ltd announces dividend
Wednesday, 5 Nov 2014 03:55am EST 

Eurasia Drilling Company Ltd:Says it will pay dividend on Dec. 19 of $1.00 per share.Says to shareholders of record as of Nov. 21.Dividend was declared by the board of directors of EDC effective Oct. 31.  Full Article

Eurasia Drilling Company Ltd lowers FY 2014 revenue forecast-Interfax
Thursday, 30 Oct 2014 11:26pm EDT 

Eurasia Drilling Company Ltd:Eurasia Drilling Company (EDC) has again revised its financial projections for 2014 due to the depreciation of the ruble-Interfax.The oilfield services company now expects revenue to total $3 billion in 2014, a senior EDC executive said in a conference call.The initial revenue forecast of $3.4 billion-$3.5 billion was revised downward to $3.05 billion-$3.1 billion in April.The 2014 forecast for EBITDA margin, however, has been raised to 27.5 percent from 26.7 percent amid growth in al segments of the business.EDC expects to generate a positive cash flow in 2014, and is planning capital expenditures of $515 million for the year.Capex for 2015 is currently being discussed, but EDC management believes it will be lower than this year, partly because the company does not plan next year to invest in new drilling rigs for offshore operations.Senior management also said in the conference call that western sanctions against Russia are not affecting the company's business, because EDC is not involved in projects to produce oil and gas in the Arctic or at deepwater fields.EDC only operates offshore in the Caspian Sea.FY 2014 revenue of $3,158 million - Thomson Reuters I/B/E/S.  Full Article

Eurasia Drilling Co Ltd reaffirms FY 2014 revenue guidance-Conference Call
Thursday, 28 Aug 2014 10:00am EDT 

Eurasia Drilling Co Ltd:Says revenue outlook for FY 2014 remains unchanged from last statement of $3.05 billion to $3.1 billion.  Full Article

Eurasia Drilling Co Ltd signs long-term contract with Gazprom Neft
Tuesday, 20 May 2014 08:00pm EDT 

Eurasia Drilling Co Ltd:Gazprom Neft has announced the signing of a three-year framework agreement on drilling and well reconstruction with Eurasia Drilling Company Ltd (EDC).Under the terms of this agreement, Gazprom Neft has estimated the full range of drilling services required by its subsidiary production companies, to be provided by EDC’s regional affiliates.EDC guarantees the required capacity and technological performance of its equipment.The agreement also outlines a pricing formula for the work.The scope and pricing of the work will be adjustable, with the consent of both parties, in line with changing market conditions.EDC is expected to undertake about 25–30 percent of all of the drilling works of Gazprom Neft subsidiaries.  Full Article

Eurasia Drilling Co Ltd reaffirms FY 2014 revenue guidance-Conference Call
Thursday, 17 Apr 2014 10:00am EDT 

Eurasia Drilling Co Ltd:Says guidance for FY 2014 remains unchanged since the last update.Revenue will be in the range of 3.05 to $3.10 billion.FY 2014 revenue of $3.34 billion - Thomson Reuters I/B/E/S.  Full Article

Eurasia Drilling Co Ltd lowers FY 2014 revenue outlook - Conference Call
Thursday, 27 Mar 2014 10:00am EDT 

Eurasia Drilling Co Ltd:Revises FY 2014 revenue guidance downwards and expect revenues in the range of $3.05- $3.1 bln.FY 2014 revenue of $3.4 bln - Thomson Reuters I/B/E/S.  Full Article

Eurasia Drilling Co Ltd announces buy-back of shares
Thursday, 20 Feb 2014 02:00am EST 

Eurasia Drilling Co Ltd:On Feb. 18 company authorized to buy-back some of its Global Depositary Receipts commencing Apr. 2 for a period of six months in an amount up to $200 mln.Says buy-back will be funded from the Company's cash reserves and so the company will not incur additional indebtedness to execute the buy-back program.  Full Article

Eurasia Drilling Co Ltd gives FY 2014 revenue outlook below analysts' estimates
Monday, 27 Jan 2014 07:00pm EST 

Eurasia Drilling Co Ltd:Expects FY 2014 total revenues in the range of $3.4- $3.5 bln.FY 2014 revenue of $3.8 bln - Thomson Reuters I/B/E/S.  Full Article

Eurasia Drilling Co Ltd announces dividend of US$ 0.92 per share
Wednesday, 11 Dec 2013 02:01am EST 

Eurasia Drilling Co Ltd:Says that it will pay a dividend on Jan. 17, 2014 of US$ 0.92 per share (FY2012: US$ 0.70) to shareholders of record as of Dec. 31. The dividend was declared by the Board of Directors on Dec. 10.  Full Article

Eurasia Drilling Co Ltd Reiterates FY 2013 Revenue Guidance-Conference Call
Tuesday, 22 Oct 2013 10:00am EDT 

Eurasia Drilling Co Ltd reiterated its guidance for fiscal 2013 on revenues, for $2.55 billion.  Full Article

UPDATE 1-Eurasia Drilling warns of sanctions impact in Russia

MOSCOW, Aug 28 - Russia's biggest oilfield services company, Eurasia Drilling Co (EDC), said future growth may suffer if western sanctions over Ukraine are extended, as it reported first-half profits hit by the weaker rouble.

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