GeoPark Holdings Limited (“GeoPark”), the Latin American oil and gas explorer , announced its strategic entry into Brazil with the acquisition of a ten percent working interest in the offshore Manati gas field (“Manati Field”) — the largest natural gas producing field in Brazil. On May 14, 2013, GeoPark executed a stock purchase agreement (“SPA”) [...]
May 15, 2013 | Posted in
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Royal Dutch Shell today reported first quarter 2013 earnings, on a current cost of supplies (CCS) basis, were $8.0 billion compared with $7.7 billion for the first quarter 2012. First quarter 2013 CCS earnings excluding identified items were $7.5 billion compared with $7.3 billion for the first quarter 2012, an increase of 3%. “Our industry continues to [...]
Polarcus Limited, a UAE-based seismic acquisition specialist has reported its revenues for the Q1 of USD 144.8 million, up 45% from Q1 2012. The company’s EBITDA was USD 52.9 million, up 103% from Q1 2012. Net Cash Flow from operations was USD 40.5 million. In Q1 2013 Polarcus continued to deleverage the Company through the sale of Polarcus [...]
Viper Subsea has seen revenues rise by 60% in the last financial year and is expecting similar or greater increase in this financial year as the innovative Bristol based company continues to enjoy rapid year-on-year growth. Established in 2007 with a remit to provide the subsea oil and gas market with superior consultancy and product [...]
Teekay Offshore Partners yesterday announced that the Board of Directors of its general partner, Teekay Offshore GP LLC, has approved an increase to the Partnership’s first quarter of 2013 cash distribution to be paid on May 14, 2013, to all unitholders of record on April 30, 2013. Teekay Offshore will increase its first quarter distribution [...]
April 19, 2013 | Posted in
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Finland’s Wärtsilä expects its net sales for 2013 to grow by 0-10% and its operational profitability (EBIT% before non-recurring items) to be around 11%.
Exxon Mobil Corporation announced that its Liberian affiliate has acquired from Canadian Overseas Petroleum (Bermuda) Ltd. (COPL) 80 percent interest in Liberia Block 13 (LB-13), comprising more than 625,000 acres (2,500 square kilometers) offshore Liberia in water depths ranging from 250 to 10,000 feet (75 to 3,000 meters). ExxonMobil Exploration and Production Liberia Limited and [...]
Trapoil, the independent oil and gas exploration, appraisal and production company focused on the UK Continental Shelf (“UKCS”) region of the North Sea, announced, further to the Company’s announcement of 7 January 2013, that it entered into a definitive sale and purchase agreement on 11 March 2013 in relation to the acquisition of an additional [...]
March 12, 2013 | Posted in
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GC Rieber Shipping reports its best earnings before interest, taxes, depreciation, and amortization (EBITDA) in the company’s history for the fourth quarter 2012 and full year 2012. The company had stable operations, with high fleet utilization and solid contract coverage. The market outlook for advanced vessels in the seismic, subsea and ice/ support segments are [...]
Kreuz Holdings Limited, an integrated subsea service provider for the oil and gas industry, today reported that the Group’s net profit jumped 49.0% to US$39.7 million for the full year ended December 31, 2012 (“FY2012”) as compared to US$26.6 million in the previous corresponding period (“FY2011”). This was achieved on a 25.8% increase in revenue [...]
