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ABGSC Oil & Oil Services Research ... (+2)
  • ABGSC Oil & Oil Services Research
  • Haakon Amundsen
ABGSC Energy Research ... (+6)
  • ABGSC Energy Research
  • Åsne Holsen
  • Daniel Vårdal Haugland
  • Haakon Amundsen
  • John Olaisen
  • Stian Wibstad
 PRESS RELEASE

Prosafe SE: Third-quarter results 2024

Prosafe SE: Third-quarter results 2024 (Figures in brackets refer to the corresponding period last year) 14 November 2024 – Prosafe SE reported EBITDA of USD 5.0 million (USD 8.4 million) for the third quarter of 2024. The company had four active vessels during the quarter. Operations and HSSE Good operating and safety performance on all vessels Q3 2024 utilisation of 57% (52%), four out of seven vessels operating during the quarterSafe Concordia, Safe Notos and Safe Eurus all had 100% utilisation, Safe Zephyrus 99% utilisationStrong commercial performance with close to doubling of ba...

ABGSC Oil & Oil Services Research ... (+2)
  • ABGSC Oil & Oil Services Research
  • Haakon Amundsen
 PRESS RELEASE

Prosafe SE: Invitation to Q3 2024 results and webcast on November 14th

Prosafe SE: Invitation to Q3 2024 results and webcast on November 14th 01 November - Prosafe SE will release its third quarter 2024 results on November 14, 2024, at approximately 07:00 a.m. CET. The Q3 report will be available on both and Prosafe’s website, . Terje Askvig, CEO, and Reese McNeel, CFO, will present the results at Pareto Securities, located at Dronning Mauds gate 3, 0115 Oslo, on the same day at 10:00 a.m. CET. This presentation is open to the public and will be live-streamed on Prosafe’s website. It will be possible to ask questions during the presentation by using the Q&A ...

 PRESS RELEASE

Prosafe SE: Operational update - September 2024

Prosafe SE: Operational update - September 2024 18 October - Fleet utilisation for Q3 2024 was 57 percent.   In Q3 2024, Safe Concordia, Safe Notos and Safe Eurus all achieved 100% utilisation. Safe Zephyrus reached 99% utilisation. Safe Caledonia is laid up at Scapa Flow, UK, and is scheduled for deployment to the Captain Field, UK, starting Q2 2025. Safe Boreas is laid up in Norway pending relocation in Q2 2025 for a contract in Australia commencing earliest October 2025. Safe Scandinavia is laid up in Norway. Prosafe is a leading owner and operator...

ABGSC Energy Research ... (+6)
  • ABGSC Energy Research
  • Åsne Holsen
  • Daniel Vårdal Haugland
  • Haakon Amundsen
  • John Olaisen
  • Stian Wibstad
ABGSC Oil & Oil Services Research ... (+6)
  • ABGSC Oil & Oil Services Research
  • Haakon Amundsen
  • John Olaisen
  • Martin Mauseth
  • Oliver Dunvold
  • Stian Wibstad

Crude Quarterly Q3'24: Lower oil price

Oil inventory draws for the rest of 2024. IEA is wrong – peak demand is not imminent. Both E&P and oil service shares look highly attractive.

 PRESS RELEASE

Prosafe SE: Operational update - August 2024

Prosafe SE: Operational update - August 2024 20 September - Fleet utilisation for August 2024 was 57 percent. In August, Safe Eurus and Safe Notos achieved 99% utilisation, while Safe Zephyrus reached 97%. The contract for Safe Concordia has been extended through the final two-months of options, plus an additional two-month extension. The vessel maintained 100% utilisation during August. Prosafe has secured firm contracts for both the Safe Caledonia and the Safe Boreas. The Safe Caledonia is set to begin operations in June 2025 at the Captain field in the UK sector. Safe Bore...

 PRESS RELEASE

Prosafe SE: Safe Concordia charter further extended in the US Gulf of ...

Prosafe SE: Safe Concordia charter further extended in the US Gulf of Mexico 11 September 2024 - With reference to the public disclosures dated 13 October 2022 and 29 January 2024, the charterer of the Safe Concordia has exercised early the remaining 2 months of options, plus a further 2 months. The fixed term of the contract is now through to 09 March 2024. The total value of the 4 month extended period is approximately USD 13.14 million. For further information, please contact: Terje Askvig, CEO Phone:  886 Reese McNeel, CFO Phone:  186 Prosafe is a leading owner and...

 PRESS RELEASE

Prosafe SE: Safe Caledonia contract signed with Ithaca Energy

Prosafe SE: Safe Caledonia contract signed with Ithaca Energy 27 August 2024 - Reference is made to press release dated 5 July 2024 where Prosafe announced the award of a Letter of Intent from Ithaca Energy (UK) Limited. Prosafe now advises that the contract has been signed, and that the Safe Caledonia will provide accommodation support for Ithaca Energy at the Captain field in the UK sector of the North Sea for a firm period of 6 months commencing June 2025 with up to 3 months of options. The total value of the contract is approximately USD 26 million to USD 37 million depending on option...

 PRESS RELEASE

Prosafe SE: Safe Boreas contract signed

Prosafe SE: Safe Boreas contract signed 21 August 2024 - Reference is made to press release dated 30 May 2024 where Prosafe announced the award of a Conditional Letter of Intent by an undisclosed client for the provision to provide gangway connected operations to support a project off the coast of Western Australia for a firm period of 15 months with up to six months of options. Prosafe now advises that the contract has been signed. The Safe Boreas will mobilise from the North Sea within Q2 2025 and will undergo its five-yearly special periodic survey and other mainten...

ABGSC Oil & Oil Services Research ... (+2)
  • ABGSC Oil & Oil Services Research
  • Haakon Amundsen
 PRESS RELEASE

Prosafe SE: Second-quarter results and first half report 2024

Prosafe SE: Second-quarter results and first half report 2024 (Figures in brackets refer to the corresponding period last year) 15 Aug 2024 – Prosafe SE reported EBITDA of USD 6.6 million (negative USD 9.8 million) for the second quarter and USD 13.8 million (negative USD 16.2 million) for the first half of 2024. Operations, HSSE and backlog Good operating and safety performance on all vesselsUtilisation of 56%, four out of seven vessels operating during the quarter and first halfStrong commercial performance Conditional Letter of Intent (LOI) for Safe Boreas signed in MayLOI for Saf...

ABGSC Oil & Oil Services Research ... (+2)
  • ABGSC Oil & Oil Services Research
  • Haakon Amundsen

Building backlog, but a long way to go

We expect USD 6m in Q2e EBITDA. Two LOIs, but EBITDA backlog has a long way to go. Dilution risk still the main issue - HOLD and TP of NOK 35.

 PRESS RELEASE

Prosafe SE: Q2 2024 results and webcast on August 15, 2024

Prosafe SE: Q2 2024 results and webcast on August 15, 2024 Prosafe SE will release its second quarter 2024 results on August 15, 2024, at approximately 07:00 a.m. CEST. The Q2 2024 presentation will be published on and on Prosafe’s website . Terje Askvig, CEO, and Reese McNeel, CFO, will on the same day at 10:00 a.m. CEST, present the results at Pareto Securities, Dronning Mauds gate 3, 0115 Oslo. The presentation is open to the public and can also be followed live via web streaming at . It will be possible to ask questions during the presentation by using the Q&A tool embedded in the we...

 PRESS RELEASE

Prosafe SE: Operational update – July 2024

Prosafe SE: Operational update – July 2024 Fleet utilisation for Q2 2024 was 56 percent. In Q2 2024, Safe Eurus and Safe Concordia both achieved 100% utilisation. Safe Notos reached 99%, while Safe Zephyrus had a 98% utilisation due to necessary maintenance work. Prosafe entered into a Letter of Intent (LoI) with Ithaca Energy (UK) Limited for the deployment of the Safe Caledonia at the Captain field in the UK sector of the North Sea starting in Q2 2025. The minimum firm operational period is six months, with an additional three months of options. Safe Boreas is laid up in Norway pending...

 PRESS RELEASE

Prosafe SE: Safe Caledonia awarded Letter of Intent

Prosafe SE: Safe Caledonia awarded Letter of Intent 5th July 2024 Prosafe has been issued a Letter of Intent (LoI) from Ithaca Energy (UK) Limited for the charter of the Safe Caledonia to provide gangway connected accommodation support at the Captain field in the UK sector of the North Sea.   The firm duration of the contract commencing June 2025 is 6 months with up to 3 months of options and final contract award is subject to meeting certain site specific technical criteria. The Safe Caledonia will undergo its five-yearly special periodic survey and other maintenance works prior t...

ABGSC Oil & Oil Services Research ... (+5)
  • ABGSC Oil & Oil Services Research
  • Haakon Amundsen
  • John Olaisen
  • Martin Mauseth
  • Stian Wibstad

Crude Quarterly Q2'24: tighter oil market ahead

Oil inventory draws for the rest of 2024. IEA is wrong – peak demand is not imminent. Both E&P and oil service shares look highly attractive.

 PRESS RELEASE

Prosafe SE: Operational Update - June 2024

Prosafe SE: Operational Update - June 2024 Oslo, 20 June 2024  Fleet utilisation for May 2024 was 57 percent.   All operational rigs, Safe Eurus, Safe Notos, Safe Zephyrus and Safe Concordia, achieved 100 percent utilisation in May 2024.   Prosafe entered into a Conditional Letter of Intent (CLoI) for Safe Boreas and will mobilise the vessel from the North Sea within Q2 2025. Safe Boreas will support a project off the coast of Western Australia for a minimum firm operational period of 15 months, with an additional six months of options.  Safe Caledonia is laid up at Scapa Flow i...

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