Edition:
United States

Spectrum ASA (SPU.OL)

SPU.OL on Oslo Stock Exchange

38.30NOK
24 Apr 2017
Change (% chg)

kr2.30 (+6.39%)
Prev Close
kr36.00
Open
kr37.00
Day's High
kr39.50
Day's Low
kr37.00
Volume
1,991
Avg. Vol
128,131
52-wk High
kr42.00
52-wk Low
kr21.90

Latest Key Developments (Source: Significant Developments)

Spectrum commence 2D multi-client seismic campaign offshore Argentina
Thursday, 20 Apr 2017 02:24am EDT 

April 20 (Reuters) - SPECTRUM ASA :REG-SPECTRUM ASA: SPECTRUM COMMENCE 2D MULTI-CLIENT SEISMIC CAMPAIGN OFFSHORE ARGENTINA.SURVEY IS DESIGNED IN CLOSE COOPERATION WITH YPF S.A..SAYS SURVEY WILL PROVIDE INDUSTRY WITH FIRST EVER DETAILED SEISMIC GRID OVER UNDER-EXPLORED FRONTIER AREA OF ARGENTINA.  Full Article

Spectrum sees Q1 net revenues of about $25 million
Tuesday, 4 Apr 2017 03:28am EDT 

SPECTRUM ASA : BASED ON PRELIMINARY FIGURES FOR Q1 2017, MANAGEMENT EXPECTS TO REPORT NET REVENUES OF APPROXIMATELY USD 25 MILLION FOR QUARTER (USD 18 MILLION IN Q1 2016) .EXPECTS TO REPORT A CASH BALANCE OF USD 17 MILLION AND SECURED NET INTEREST BEARING DEBT OF APPROXIMATELY USD 18 MILLION AS OF 31(TH) MARCH 2017.  Full Article

Multiclient Geophysical: Geoex amends voluntary offer terms
Thursday, 2 Feb 2017 04:12am EST 

Multiclient Geophysical ASA : Amended offer terms and update on the voluntary offer to acquire all outstanding shares in MultiClient Geophysical (MCG) by Geoex Ltd . Competing offer has offer price of 1.25 Norwegian crown per MCG share . Offer price in initial offer made by Geoex was 1.20 crown per share . Geoex has decided to increase consideration in initial offer to 1.40 crown per share . Accepting shareholders will receive full settlement of 1.40 crown per share upon completion of offer . Increased offer valuates total share capital of MCG at about 130.0 million crowns ($15.9 million) .Amended offer price represents premium to offer price offered by Spectrum ASA in competing offer of about 13 percent.  Full Article

Spectrum to acquire MultiClient Geophysical ASA
Tuesday, 24 Jan 2017 11:00am EST 

Spectrum ASA : Announced a voluntary offer to acquire all issued and outstanding shares in MultiClient Geophysical ASA at a consideration of 1.25 crown per share . The Offer values total share capital of MCG at 116 million Norwegian crowns ($14 million) .Says Offeror will seek to have MCG shares delisted from Oslo Stock Exchange..  Full Article

Spectrum expects Q4 net revenue of about $31 million
Monday, 9 Jan 2017 03:06am EST 

Spectrum ASA :Expects to report Q4 net revenues of about $31 million ($42 million in Q4 2015).  Full Article

Spectrum to recognize $8.7 mln in tax credits in Brazil as "other revenue" in Q3
Monday, 3 Oct 2016 01:15am EDT 

Spectrum ASA : Will recognize about $8.7 mln in tax credits in Brazil as "other revenue" in Q3 2016 .Credits will be used to partially offset Spectrum's tax payments in Brazil going forward.  Full Article

Spectrum starts multi client 3D seismic survey offshore Norway
Thursday, 22 Sep 2016 02:43am EDT 

Spectrum ASA : Commences 1,800 square kilometer multi client 3D seismic survey offshore Norway in Western Barents Sea . Survey is acquired in partnership with BGP .Final PreSTM Broadband dataset and offset volumes will be available during Q2 2017, ahead of 24th Norwegian licensing round in 2017.  Full Article

Spectrum Q2 EBIT swings to loss $9.9 mln
Friday, 12 Aug 2016 01:15am EDT 

Spectrum ASA : Q2 net operating revenue $13.6 million versus $34.7 million year ago . Q2 EBIT loss $9.9 million versus profit $8.7 million year ago .Believes that there is attractive project and sales pipeline in place for next 12 months.  Full Article

Spectrum expects lower net revenues for Q2
Tuesday, 12 Jul 2016 01:30am EDT 

Spectrum ASA :Expects to report net revenues of approximately $14 million for 2nd quarter of 2016 ($35 million in Q2 2015)..  Full Article

Spectrum in agreement to amend amortization schedule on company's term loan facility
Friday, 1 Jul 2016 02:15am EDT 

Spectrum ASA : Has entered into an agreement to amend amortization schedule on company's term loan facility . With new repayment schedule term loan is amortized $10 million in Q2, $10 million in Q3 2016 and $15 million in Q1 2017 . Previous amortization schedule was of $15 million in Q2 2016 and $20 million in Q3 2016 . Based on preliminary figures for Q2 2016, management expects to report a cash balance of about $15 million after Q2 2016 term loan payment of $10 million .In addition, Spectrum has obtained a waiver for NIBD/EBITDA - MC capex covenant for Q2 2016.  Full Article

More From Around the Web