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Akastor ASA (AKAS.OL)

AKAS.OL on Oslo Stock Exchange

16.00NOK
19 Oct 2018
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Latest Key Developments (Source: Significant Developments)

Akastor Q2 Revenue Rises To NOK 873 Million
Friday, 13 Jul 2018 01:00am EDT 

July 13 (Reuters) - Akastor ASA ::Q2 REVENUE OF NOK 873 MILLION WITH GROWTH OF 25 PERCENT FROM PREVIOUS YEAR.Q2 EBITDA FROM CONTINUING OPERATIONS OF NOK 78 MILLION (EBITDA OF NOK 193 MILLION INCLUSIVE AKOFS OFFSHORE).Q2 ORDER INTAKE OF NOK 4.6 BILLION.FOR THE FIRST HALF YEAR OF 2018, THE RESULT FROM CONTINUING OPERATIONS WAS POSITIVE NOK 86 MILLION.  Full Article

Akastor wins $370 well intervention contract offshore Norway from Equinor
Wednesday, 16 May 2018 04:37am EDT 

May 16 (Reuters) - Akastor Asa ::REG-AKASTOR ASA: EQUINOR AWARDS AKOFS OFFSHORE LETTER OF INTENT.AKOFS OFFSHORE, A COMPANY OWNED BY AKASTOR ASA, HAS ENTERED INTO A LETTER OF INTENT WITH EQUINOREQNR.OL FOR PROVISION OF YEAR ROUND LIGHT WELL INTERVENTION SERVICES (LWI) ON NORWEGIAN CONTINENTAL SHELF.PURSUANT TO LETTER OF INTENT, CONTRACT PERIOD IS FOR FIVE YEARS, WITH AN OPTION PERIOD OF THREE YEARS.CONTRACT VALUE FOR INITIAL FIVE-YEAR PERIOD IS APPROXIMATELY USD 370 MILLION.WORK IS SCHEDULED TO COMMENCE FIRST HALF OF 2020 AND WILL BE PERFORMED FROM AKOFS SEAFARER WELL INTERVENTION VESSEL.  Full Article

Odfjell Drilling - Private placement of up to USD 200 mln
Thursday, 19 Apr 2018 10:34am EDT 

April 19 (Reuters) - Odfjell Drilling Ltd ::IS CONTEMPLATING TO OFFER NEW COMMON SHARES IN A PRIVATE PLACEMENT RAISING GROSS PROCEEDS OF UP TO APPROXIMATELY NOK 1.56 BILLION, EQUIVALENT TO UP TO APPROXIMATELY USD 200 MILLION.NET PROCEEDS FROM PRIVATE PLACEMENT WILL BE USED TO FINANCE COMPANY'S GROWTH AMBITIONS AND FOR GENERAL CORPORATE PURPOSES.ODFJELL DRILLING IS CONSIDERING VARIOUS OPPORTUNITIES FOR GROWTH AND ONE OPPORTUNITY IS POTENTIAL PURCHASE OF "STENA MIDMAX RIG".NO DECISION HAS BEEN MADE TO PURCHASE UNIT, COMPANY MAY SELECT OTHER ALTERNATIVES TO REALISE ITS GROWTH AMBITIONS AND COMPLETION OF PRIVATE PLACEMENT IS NOT CONDITIONAL UPON COMPANY'S PURCHASE OF UNIT.IN EVENT THAT COMPANY SHOULD DECIDE TO PURCHASE UNIT, UNIT WILL AMONGST OTHER ALSO BE FINANCED THROUGH ISSUANCE OF PREFERENCE SHARES AND WARRANTS TO BE SUBSCRIBED BY AKASTOR AS OR AN AFFILIATE.HAS RETAINED ABG SUNDAL COLLIER, ABN AMRO BANK N.V., DANSKE BANK, DNB MARKETS, NORDEA BANK, PARETO SECURITIES AS AND SPAREBANK 1 MARKETS AS JOINT LEAD MANAGERS AND BOOKRUNNERS FOR THE PRIVATE PLACEMENT. .  Full Article

Aker CEO says no plans to dilute stake in Aker BP
Thursday, 23 Nov 2017 03:47am EST 

Nov 23 (Reuters) - Aker ASA Chief Executive Oeyvind Eriksen said::No plans to take Akastor private, will continue to be listed.Says has no plans to dilute stake in Aker BP.Wants to explore Kvaerner growth opportunities, both geografically and accross the business portfolio.  Full Article

Norway's Akastor Q3 EBITDA at NOK 54 mln, net debt falls
Wednesday, 25 Oct 2017 01:00am EDT 

Oct 25 (Reuters) - Akastor Asa :Q3 EBITDA at NOK 54 million, including several special items with a total negative value of NOK 79 million​.Net debt reduced by NOK 0.9 billion to NOK 2.4 billion, including financial leases of NOK 1.4 billion.  Full Article

Akastor and Mitsui to expand partnership
Wednesday, 25 Oct 2017 12:57am EDT 

Oct 25 (Reuters) - Akastor Asa :Akastor asa: akastor and mitsui seek to expand partnership.‍announced today that it is in advanced discussions with mitsui & co., ltd. ("mitsui"), a leading japanese trading and investment company, to further expand their current partnership to include akofs offshore​.‍mitsui, together with potential partners, will invest in akofs by purchasing 50% of shares in company to form a new 50-50 joint venture​.‍mitsui, together with potential partners, will invest in akofs by purchasing 50% of shares in company to form a new 50-50 joint venture​.‍transaction is expected to result in an initial net cash release to akastor of approximately usd 142 million for shares in akofs, with a potential further cash release depending on earnings generated by akofs seafarer vessel in coming years​.‍completion of transaction is expected to occur in q1 2018​.‍through transaction, mitsui will assume an active role in further support and development of akofs together with akastor as a long-term business partner​.‍transaction still remains subject to agreement on final terms and conditions, final due diligence, entry of definitive agreements between akastor and mitsui and bod approvals for all respective parties​.‍completion of transaction is expected to occur in q1 2018​.  Full Article

Akastor Q4 EBITDA falls to $20 mln, market remains challenging
Thursday, 16 Feb 2017 01:00am EST 

Akastor ASA : Akastor Q4 EBITDA 166 million Norwegian crowns ($19.94 million) vs 495 million crowns in the 2015 fourth quarter . Akastor end-Q4 order backlog NOK 7.75 billion versus NOK 7.7 billion at end Q3 . Due to fewer rigs with MHWirth equipment in operations and reduced upgrade and modification DLS experienced lower activity in 2016 than in previous years . Akastor says sees a continued challenging market for 2017, driven by the reduced number of active rigs in operation affecting Drilling Lifecycle Services (DLS) revenues, and no significant newbuild activity .Akastor is Norway-based oil services investment company with a portfolio of industrial holdings and other investments.  Full Article