Key Developments: Petroleum Geo-Services ASA (PGSVY.PK)
15.36USD
17 May 2013
$-0.01 (-0.05%)
$15.65
$15.46
$15.46
$15.31
6,794
5,971
$18.23
$10.60
Latest Key Developments (Source: Significant Developments)
Petroleum Geo-Services ASA Maintains FY 2013 EBITDA Guidance
Petroleum Geo-Services ASA announced that based on the current operational forecast and with reference to the aforementioned risk factors, the Company continues to expect fiscal year 2013 EBITDA to be in the range of USD 940 million and USD 980 million. According to I/B/E/S Estimates analysts on average are expecting Petroleum Geo-Services to report EBITDA of 1,001.38 the fiscal year 2013. Full Article
Petroleum Geo-Services ASA Announces New Ship Ramform Titan
Petroleum Geo-Services ASA announced that its new ship, the 24-streamer Ramform Titan was named on April 26, 2013 at MHI yard in Nagasaki, Japan. The new ship is a marine seismic acquisition vessel. Safety and productivity have been the main focus points for its design. It is the first of four such vessels to be built in Japan. The design dovetails advanced maritime technology to the imaging capabilities of the GeoStreamer seismic acquisition technology. Its 70-meter broad stern is fully exploited with 24 streamer reels: 16 reels aligned abreast and eight reels further forward. Ramform Titan is equipped with 24 reels with capacity for 12-kilometer streamers, which give it flexibility and redundancy for high capacity operations. It carries over 6,000 tons of fuel and equipment. It will typically tow a network of several hundred thousand recording sensors over an area greater than 12 square kilometers. Ramform Titan provides a safe and comfortable living and working environment for up to 80 crew members, with 60 single cabins, and 10 twin cabins for visitors, all with separate bathrooms. Full Article
Petroleum Geo-Services ASA Announces Details on FY 2012 Dividend
Petroleum Geo-Services ASA announced that its Board proposes a dividend of NOK 1.65 per share for fiscal year 2012, constituting an aggregate dividend payment of NOK 359,369,995. The dividend will be paid to those who are shareholders at end of trading on May 14, 2013, and the shares will be trading exclusive dividend rights as of May 15, 2013. Full Article
Petroleum Geo-Services ASA Reaffirms FY 2013 EBITDA Gudiance-Conference Call
Petroleum Geo-Services ASA announced that for fiscal 2013, it maintains EBITDA range from $940 million to $980 million. According to I/B/E/S Estimates, analysts were expecting the Company to report EBITDA of $979 million for fiscal 2013. Full Article
Petroleum Geo-Services ASA Proposes Ordinary Dividend
Petroleum Geo-Services ASA announced that the Board expects to propose an ordinary dividend for 2012 of NOK1.65 per share, up 50% from previous year. Full Article
Petroleum Geo-Services ASA Announces Completion of Add-On to USD 300 Million Senior Notes
Petroleum Geo-Services ASA announced in relation to the announcement from December 19, 2012 that the 7.375% Senior Notes will be sold at 107.500 of the aggregate principal amount plus accrued interest, if any, from December 15, 2012. Full Article
Petroleum Geo-Services ASA Announces Add-on to its USD 300 Million Senior Notes
Petroleum Geo-Services ASA announced that it will offer USD 150 million aggregate principal amount of its 7.375% senior notes due 2018 to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act), and in offshore transactions in reliance on Regulation S under the Securities Act. On November 9, 2011, PGS priced an offering of USD 300 million aggregate principal amount of its 7.375% senior notes due 2018. The notes and the notes originally issued in November 2011 will be treated as a single class of debt securities under the same indenture. PGS expects to use the net proceeds of the current Notes offering for general corporate purposes. Full Article
Petroleum Geo-Services ASA Issues FY 2013 EBITDA Guidance Below Analysts' Estimates-Conference Call
Petroleum Geo-Services ASA announced that for fiscal 2013, it expects EBITDA to be in the range of USD940 million - USD980 million. According to I/B/E/S Estimates, analysts were expecting the Company to report EBITDA of USD1.00 billion for fiscal 2013. Full Article
Petroleum Geo-Services ASA Starts MC3D Survey Offshore Uruguay
Petroleum Geo-Services ASA announced that it will start acquisition of 15,550 square kilometers of GeoStreamer data in four blocks in Uruguay in mid-December 2012. The seismic vessel Ramform Vanguard will undertake this MultiClient survey, which has received industry support. For blocks 6, 11, 12 and 15 awarded in the second License Round, announced on March 19, 2012, this will complete 3D seismic work program commitments. Fast track processing will provide Operators with early access to these images and more time to evaluate exploration potential prior to moving to the next exploration phase for the awarded blocks, which will likely require drilling commitments. In Uruguay, the Company will work closely with ANCAP (Administracion Nacional de Combustibles, Alcoholes y Portland) the state owned entity as partner in Uruguay. The new Uruguay MC3D will add to existing 2D data in neighboring Pelotas basin, currently available as part of the PGS Brazil MegaProject. Together these datasets will provide the understanding of the hydrocarbon potential of the region. Full Article
Petroleum Geo-Services ASA Signs Agreement for MultiClient Surveys Offshore Namibia
Petroleum Geo-Services ASA announced that the Company has signed an agreement with the National Petroleum Corporation of Namibia Limited (NAMCOR), with the full support of the Ministry of Mines and Energy, for the acquisition of both 2D and 3D MultiClient seismic offshore Namibia. Under the 10 year agreement, the Company will begin its operations with the acquisition of a 2D regional survey during the first quarter of 2013 over the open deep-water blocks. These blocks will form the basis of a future Licensing Round and the PGS survey will be the primary technical dataset for that Round. The Company will be utilising the latest GeoStreamer dual sensor technology on this survey, which runs the entire length of the Namibian offshore, from the Angolan border in the north to the South African border in the south. The agreement also provides the Company with the rights to acquire 3D MultiClient surveys. Full Article
New Issue-Petroleum Geo sells $150 mln in notes
Dce 19 - Petroleum Geo-Services on Wednesday added $150 million of senior notes to an existing issue, said IFR, a Thomson Reuters service. The sale took place in the 144a private placement market. UBS was the sole bookrunning manager for the sale. BORROWER: PETROLEUM GEO-SERVICES ASA AMT $150 MLN COUPON 7.375 PCT MATURITY 12/15/2018 TYPE SR NTS ISS PRICE 107.5 FIRST PAY 06/15/2013 MOODY'S Ba2 YIELD 5.868 PCT SETTLEMENT 12/27/2012 S&P DOUBLE-B S
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