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Prosafe SE (PRSO.OL)

PRSO.OL on Oslo Stock Exchange

18.20NOK
20 Jul 2018
Change (% chg)

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Open
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Volume
111,085
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173,850
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kr31.70
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Latest Key Developments (Source: Significant Developments)

Prosafe converts NOK 0.69 mln bonds into new shares
Friday, 9 Feb 2018 07:30am EST 

Feb 9 (Reuters) - Prosafe Se ::‍CONVERTS BONDS OF NOMINAL VALUE NOK 692,000 INTO 23,066 NEW ORDINARY SHARES AT A CONVERSION PRICE OF NOK 30 PER SHARE​.FOLLOWING THE CONVERSION ‍NUMBER OF OUTSTANDING SHARES IN COMPANY INCREASED TO 80,748,875 SHARES, EACH OF NOMINAL VALUE EUR 0.1.CYPRUS-BASED COMPANY OWNS AND OPERATES SEMI-SUBMERSIBLE ACCOMMODATION VESSELS.  Full Article

Prosafe Q4 EBITDA in line, sees gradual pick-up in demand from 2019
Tuesday, 6 Feb 2018 12:59am EST 

Feb 6 (Reuters) - Prosafe Se ::PROSAFE Q4 EBITDA $‍40.1​ MILLION (REUTERS POLL $40.3 MILLION).‍CASH FLOW FROM OPERATIONS WAS USD 44.2 MILLION (USD 66.7 MILLION)​.PROSAFE Q4 REVENUE $‍76.7​ MILLION (REUTERS POLL $78.5 MILLION).‍FORESEE GRADUAL PICK-UP IN ACCOMMODATION DEMAND FROM 2019​.‍UTILISATION OF 36.1 PER CENT IN QUARTER​.CONTINUES TO PURSUE EFFICIENCIES AND INTENDS TO BE PROACTIVE IN FLEET ENHANCEMENT AND INDUSTRY RESTRUCTURING.‍​.CONTINUES TO ANTICIPATE A VOLATILE MARKET FOR THE FORESEEABLE FUTURE‍​.CONTINUES TO SEE LOW INCREMENTAL ACTIVITY IN THE NORTH SEA IN THE SHORT TERM ALTHOUGH NEW OPPORTUNITIES ARE EXPECTED TO ARISE.INDICATIONS ARE THAT THE DEMAND FOR ACCOMMODATION SERVICES WILL GRADUALLY PICK UP FROM 2019. POSITIONING FOR KEY UPCOMING TENDERS REMAINS A NEAR TERM PRIORITY.PROSAFE Q4 NET RESULT $4.9‍​ MILLION (REUTERS POLL $-1.5 MILLION).PROSAFE Q4 OPERATING RESULT $14.9‍​ MILLION (REUTERS POLL $10.5 MILLION).PROSAFE NET INTEREST BEARING DEBT $1,115.8‍​ MILLION AT END-Q4 VERSUS $1,140 MILLION AT END-Q3.  Full Article

Prosafe extends standstill deal with Cosco​
Thursday, 7 Dec 2017 12:59am EST 

Dec 7 (Reuters) - Prosafe Se ::PROSAFE EXTENDS STANDSTILL AGREEMENT WITH COSCO.‍CONTINUES TO WORK WITH COSCO (QIDONG) OFFSHORE CO. LTD (COSCO) TO FIND A COMPREHENSIVE COMMERCIAL SOLUTION FOR THREE PROSAFE VESSELS THAT CURRENTLY RESIDE IN COSCO'S QIDONG SHIPYARD​.‍SAFE EURUS IS IN A PRESERVED, STRATEGIC STACKING MODE AND NEGOTIATIONS CONTINUE WITH COSCO TO FIND A WORKABLE COMMERCIAL SOLUTION​.‍STANDSTILL AGREEMENT BETWEEN PROSAFE AND COSCO RELATED TO SAFE NOVA AND SAFE VEGA HAS RECENTLY BEEN EXTENDED UNTIL 20 APRIL 2018​.  Full Article

Prosafe CEO buys shares in firm
Friday, 3 Nov 2017 10:18am EDT 

Nov 3 (Reuters) - PROSAFE SE :PROSAFE SE: CEO PURCHASES SHARES IN PROSAFE SE.JESPER KRAGH ANDRESEN, CEO HAS ON 3 NOVEMBER PURCHASED 32,476 SHARES IN PROSAFE SE AT AN AVERAGE PRICE OF NOK 14.4356 PER SHARE.​.  Full Article

Prosafe Q3 EBITDA weaker than expected, guidance unchanged
Thursday, 2 Nov 2017 02:00am EDT 

Nov 2 (Reuters) - Prosafe Se :Prosafe q3 ebitda $‍27.6​ million (Reuters poll $31.5 million).Prosafe q3 revenue $‍68.9​ million (Reuters poll $72.6 million).‍Says due to a continued weak market outlook an impairment charge has been made to q3 accounts.Impairment amounts to usd 609 million, out of which.USD 226.7 million relates to goodwill which has been fully impaired. The remaining USD 382.3 million relates to the vessels.​.Prosafe net interest bearing debt $‍1,139.8​ million at end-q3 versus $1,135 million at end-q2.Says despite positive signals like oil price development, reduced break even levels across industry and oil companies returning to cash positive positions, activity pick-up is slower than expected.‍As a result prosafe anticipates a continued volatile market for foreseeable future.Repeats EBITDA and capex guidance for 2017​.  Full Article

Prosafe's fleet utilisation was 38.9 pct in Q3
Thursday, 19 Oct 2017 12:59am EDT 

Oct 19 (Reuters) - Prosafe Se :Prosafe se says ‍fleet utilisation rate in Q3 of 2017 was 38.9 per cent (Q3 2016 52 per cent)​.Standstill agreement between prosafe and cosco relating to safe nova and safe vega has been extended until december 2017. Prosafe remains in negotiations with cosco and related parties to find a workable commercial solution for these vessels.If an agreement is not reached, Prosafe has the right to cancel the Safe Nova and Safe Vega newbuilding contracts due to delay and claim a refund of the instalments plus interest equal to approx. USD 60 million secured by Bank of China​.  Full Article

Prosafe Q2 fleet utilisation rate was 38.5 pct
Monday, 7 Aug 2017 12:58am EDT 

Aug 7 (Reuters) - Prosafe Se :Fleet utilisation rate in Q2 of 2017 was 38.5 percent.Prosafe remains in negotiations with Cosco and related parties for a workable commercial solution for Safe Nova and Safe Vega.  Full Article

Prosafe Q1 EBITDA $30.8 million below forecast
Thursday, 11 May 2017 12:55am EDT 

May 11 (Reuters) - Prosafe Se :q1 net result $-19.1 million (Reuters poll $-14.2 million).q1 ebitda $30.8 million (Reuters poll $32.7 million).Further scrapping and industry restructuring will be required in addition to activity increase, for offshore accommodation market to recover.The market remains generally soft and current accommodation activity is predominantly related to hook-up and commissioning work. Market improvement will require the maintenance and modification part of the market to return.After several years of sharp decline in the global E&P spending, the company now sees market expectations of only moderate E&P capex reduction in 2017 and an increase in 2018/2019.  Full Article

Prosafe wins $51-53 mln contract with Statoil at Sverdrup
Wednesday, 26 Apr 2017 12:58am EDT 

April 26 (Reuters) - Prosafe Se :Statoil has awarded Prosafe a contract for the provision of the Safe Zephyrus semi-submersible accommodation vessel for Phase 1 of the Johan Sverdrup hook-up and commissioning project in the Norwegian sector of the North Sea.Contract duration will be one of three scenarios available to Statoil for nomination in early august 2017; either a 12 month firm period from late Q2 2018, or a 12 month firm period from late Q3 2018 with 4 months of options, or lastly 5 months firm from late Q2 2018 plus 6 months of options and 4 months firm from Q2 2019 plus 4 months of options.Value of contract firm period will be between musd 51 and musd 53 including fuel, mobilisation and demobilisation depending on scenario nominated.Revenue generated from provision of catering services is in excess of total value.  Full Article

Prosafe's Q1 fleet utilisation was 40 per cent
Friday, 21 Apr 2017 12:59am EDT 

April 21 (Reuters) - Prosafe Se :Fleet utilisation rate in Q1 of 2017 was 40 per cent.Regalia, Safe Bristolia, Safe Astoria and Safe Regency were idle in the quarter.Safe Regency is laid up in Curaçao and the company has taken the decision to sell the vessel for scrap in the near term.The Safe Eurus is in a preserved, strategic stacking mode with COSCO (Qidong) Offshore Co., Ltd. (COSCO) in China.Prosafe remain in negotiations with COSCO and related parties for a workable commercial solution for Safe Nova and Safe Vega.If no agreement is reached, Prosafe has the right to claim cancellation of the newbuilding contracts due to delay and claim repayment of the instalment paid including interest of approx. USD 60 million secured by a refund guarantee from Bank of China.  Full Article

BRIEF-Prosafe wins $13.5 mln contract from BP​

* REG-PROSAFE SE: BP CHARTERS SAFE CALEDONIA FOR WEST OF SHETLAND