Key Developments: Fred Olsen Energy ASA (FOE.F)
34.83EUR
24 May 2013
€-0.26 (-0.75%)
€32.62
€34.83
€34.83
€34.83
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599
€37.97
€22.54
Latest Key Developments (Source: Significant Developments)
Fred Olsen Energy ASA Updates on FY 2012 Dividend
Fred Olsen Energy ASA announced that the proposed ordinary dividend of NOK 10 per share for the fiscal year 2012 and an extraordinary dividend of NOK 10 per share will distributed to the shareholders of the Company as of the date of the Annual General Meeting, May 28, 2013. Subject to the Annual General Meeting resolving the proposed distribution of dividend, the Company’s shares will be traded ex. dividend from and including May 29, 2013, and it is expected that the payment date of dividend will be on or about June 20, 2013. Full Article
Fred Olsen Energy ASA Receives Contract Extension for Borgland Dolphin
Fred Olsen Energy ASA announced with reference to the announcement from September 17, 2012 that the contract has been extended from a 15-well drilling contract to an 18-well drilling contract. The new estimated duration for the drilling program is three and a half years for the semi-submersible drilling rig Borgland Dolphin. The new estimated contract value is approximately USD 663 million. Full Article
Fred Olsen Energy ASA Proposes FY 2012 Dividend of NOK 10 per Share and Extraordinary Dividend of NOK 10 per Share
Fred Olsen Energy ASA announced that it proposes fiscal year 2012 dividend of NOK 10 per share in ordinary dividend and an extraordinary dividend of NOK 10 per share. This is unchanged from fiscal year 2011. Full Article
Fred Olsen Energy ASA Announces Contract Extension for Subsidiaries
Fred Olsen Energy ASA announced that Dolphin Drilling Ltd. and Dolphin Drilling Brazil, subsidiaries of the Company, have finalized an approximate one year contract extension with Petrobras for continued use of the semi-submersible drilling rig Borgny Dolphin. The extension will follow in direct continuation with the current contract and provide ongoing employment for the Borgny Dolphin until the end of September 2014. The estimated contract value is USD 90 million. Full Article
Fred Olsen Energy ASA Announces New Contract for Dolphin Drilling Ltd
Fred Olsen Energy ASA announced that its subsidiary, Dolphin Drilling Ltd, has entered into a contract with BG International Ltd for the provision of the accommodation semi-submersible Borgholm Dolphin for a nine-month period commencing August 1, 2014 supporting operations in the United Kingdom sector. The estimated contract value is approximately USD 65.5 million. An option exists for a 45 days contract extension. Full Article
Fred Olsen Energy ASA Updates on Option for Second Newbuild Semi-Submersible
Fred Olsen Energy ASA announced that with reference to the report for the third quarter of 2012 dated October 30, 2012 regarding an option for a second newbuild semi-submersible at Hyundai Heavy Industries Co., Ltd, a wholly owned subsidiary of Fred Olsen Energy ASA has decided not to declare the option for a second unit. Full Article
Fred Olsen Energy ASA's Dolphin Drilling Ltd. Enters into Contract for Provision of New Build Moss Maritime CS 60 E Design Semi-Submersible
Fred Olsen Energy ASA announced that Dolphin Drilling Ltd., a subsidiary of the Company, has entered into a contract with an undisclosed client, for the provision of the new build Moss Maritime CS 60 E design semi-submersible under construction by Hyundai Heavy Industries (HHI), which is to be named Bollsta Dolphin. The five-year contract will commence following delivery by HHI, scheduled for end first quarter 2015. The contract value is approximately USD 1.064 billion, including a mobilization fee of USD 42 million. In connection with the new build contract, an estimated USD 40 million will be invested in a second BOP and additional riser. Full Article
Fred Olsen Energy ASA's Subsidiary Enters into Letter of Award with Statoil
Fred Olsen Energy ASA announced that its subsidiary Dolphin Drilling AS has entered into a Letter of Award with Statoil for a three-year extension of the current drilling contract for the semi submersible drilling rig Bideford Dolphin for operation on the Norwegian continental shelf. The extension will be in direct continuation of current drilling contract. The estimated value for the fixed extension period is approximately USD 520 million. An option exists for a further two years contract extension. Full Article
Fred Olsen Energy ASA Receives New Contract for Bredford Dolphin
Fred Olsen Energy ASA announced that its subsidiary Dolphin Drilling AS has subject to final approvals entered into a Letter of Award for the provision of the semi submersible drilling rig Bredford Dolphin with an AGR coordinated group of four oil companies for operation on the Norwegian Continental Shelf. The contract is for an eight well drilling campaign with an estimated duration of 570 days, with commencement in direct continuation with current contract. The operators have the right to extend the contract period with four additional wells within June 30, 2013. Subject to execution of the first four optional wells, the operators have the right to extend the contract with minimum additional five wells within contract commencement. The estimated contract value for the firm period is approximately USD 252 million. Full Article
Fred Olsen Energy ASA Subsidiary Receives Drilling Contract for Borgland Dolphin
Fred Olsen Energy ASA announced that the Company's subsidiary Dolphin Drilling AS, has entered into a Letter of Award (LOA) with a Rig Management Norway AS consortium consisting of four oil companies. The LOA is for a 15 well drilling contract with an estimated duration of three years for the semi-submersible drilling rig Borgland Dolphin. The estimated contract value for the period is approximately USD 575 million and commencement will be in direct continuation with the current contract. In connection with the Class Renewal Survey in 2014 contract specific upgrades will be carried out to an estimated cost of USD 10 million. Full Article
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