reports
- ABGSC Shipping & Transport Research
- Martin Mauseth
- Oliver Dunvold
- Petter Haugen
Golar Acquires All Outstanding Minority Interests in the FLNG Hilli
Golar Acquires All Outstanding Minority Interests in the FLNG Hilli Golar LNG Limited ("Golar" or "the Company") is pleased to announce that the company has acquired Seatrium’s and Black & Veatch’s minority ownership interests in the FLNG Hilli. The acquisitions comprise all third-party interests in the asset, including a total of 5.45% common units, 10.9% Series A shares and 10.9% Series B shares. The transaction is equivalent to ~8% of the full FLNG capacity. The total consideration for the acquisitions is $90.2 million, of which $59.9m is in equity and $30.3 million is a pro-rata share ...
- ABGSC Shipping & Transport Research
- Martin Mauseth
- Oliver Dunvold
- Petter Haugen
- ABGSC Shipping & Transport Research
- Martin Mauseth
- Oliver Dunvold
- Petter Haugen
- Jørgen Lian
Golar LNG (Buy, TP: USD42.00) - Primed for a decisive 2025
The FLNG business should see a steady stream of news flow over the next 12 months that we expect to confirm, and then add to, Golar LNG’s valuation. Potential cash flow underpins an attractive investment case in our view. As projects firm up, we believe investors should gravitate towards appealing multiples and long-term visibility. Hence, we reiterate our BUY and USD42 target price.
- ABGSC Shipping & Transport Research
- Martin Mauseth
- Oliver Dunvold
- Petter Haugen
- Jørgen Lian
Flex LNG (Buy, TP: NOK335.00) - 13% yield highly appealing
Flex LNG remains insulated in a challenging freight market, with only one vessel open into a potentially poor 2025, while the two positions for 2026 are still likely to see options extended into 2028. Lower rates have led to our minor near-term adjustments, but we see no reason to doubt its USD0.75 quarterly DPS, offering an attractive 13% dividend yield into better markets. We reiterate our BUY, but have cut our target price to NOK335 (345).
- ABGSC Shipping & Transport Research
- Martin Mauseth
- Oliver Dunvold
- Petter Haugen
Key information relating to the cash dividend to be paid by Golar LNG ...
Key information relating to the cash dividend to be paid by Golar LNG Limited (Ticker: GLNG) Reference is made to the third quarter 2024 report released on November 12, 2024. Golar LNG Limited (“Golar”), NASDAQ ticker: GLNG, has declared a total dividend of $0.25 per share to be paid on or around December 2, 2024. The record date will be November 25, 2024. Due to the implementation of the Central Securities Depository Regulation (“CSDR”), please note the information below on the payment date for the small number of Golar shares registered in Norway’s central securities depository (“VPS”): ...
Interim results for the period ended September 30, 2024
Interim results for the period ended September 30, 2024 Highlights and subsequent events Final Investment Decision (“FID”) for MK II 3.5mtpa FLNG for delivery within 2027. Received reservation notice for FLNG Hilli under definitive agreements with Pan American Energy (“PAE”) for 20-year FLNG deployment in Argentina. Strong progress on FLNG commercial opportunities.Agreed commercial reset of pre-COD contract mechanisms with bp for FLNG Gimi (“the commercial reset”).FLNG Hilli maintains market-leading operational track record. Golar reports a Q3 2024 (“Q3” or “the quarter”) Net loss of $36 m...
- ABGSC Shipping & Transport Research
- Martin Mauseth
- Oliver Dunvold
- Petter Haugen
- Jørgen Lian
Golar LNG Minor model adjustments
We have updated our estimates ahead of the Q3 results (due before US market open on 12 November), owing to decreased commodity prices. While our Q3e adj. EBITDA is 10% above Bloomberg consensus, we believe the focus should be on the company potentially firming up its FLNG project pipeline and timeline updates. We do not consider these changes to be material, and we have not changed our BUY recommendation. We reiterate our USD42 target price.
- ABGSC Shipping & Transport Research
- Martin Mauseth
- Oliver Dunvold
- Petter Haugen
- ABGSC Shipping & Transport Research
- Martin Mauseth
- Oliver Dunvold
- Petter Haugen
Golar LNG Limited – Q3 2024 results presentation
Golar LNG Limited – Q3 2024 results presentation Golar LNG's 3rd Quarter 2024 results will be released before the NASDAQ opens on Tuesday, November 12, 2024. In connection with this a webcast presentation will be held at 1:00 P.M (London Time) on Tuesday November 12, 2024. The presentation will be available to download from the Investor Relations section at We recommend that participants join the conference call via the listen-only live webcast link provided. Sell-side analysts interested in raising a question during the Q&A session that will immediately follow the presentation should acc...
- Jørgen Lian
Flex LNG Minor model adjustments
We have slightly adjusted our rate and financing estimates. We still forecast a healthy 2024–2026 dividend yield of 11% for Flex LNG. This is supported by its solid contract backlog with limited spot exposure in the next two years, mitigating risk to what we believe will become challenging freight markets. Additionally, we see upside potential to its cUSD80k/day average 2024–2026e TCE beyond the fixed contract period, with long-term charter rates (>5 years) of cUSD90k–100k/day. The Q3 results ar...
- Dave Nicoski
- Ross LaDuke
Vital Signs: Actionable charts
In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.
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- ABGSC Shipping & Transport Research
- Oliver Dunvold
- Petter Haugen
Final Investment Decision for MK II 3.5mtpa FLNG
Final Investment Decision for MK II 3.5mtpa FLNG Golar LNG Limited (“Golar” or “the Company”) announces today that it has signed an Engineering, Procurement and Construction (“EPC”) agreement with CIMC Raffles (“CIMC”) for a MK II Floating LNG Production (“FLNG”) vessel with an annual liquefaction capacity of 3.5 million tons of LNG per annum (“MTPA”). Under the agreement with CIMC, Black & Veatch will provide its licensed PRICO® technology, perform detailed engineering and process design, specify and procure topside equipment and provide commissioning support for the FLNG topsides and liqu...
Golar announces pricing of USD 300 million unsecured bond issue
Golar announces pricing of USD 300 million unsecured bond issue Golar LNG Limited (the “Company”) has today successfully priced USD 300 million in senior unsecured bonds in the Nordic bond market. The bonds will mature in September 2029 and bear interest at 7.75% per annum. Net proceeds from the bond issue will be applied towards capital expenditure, refinancing of debt and general corporate purposes. An application will be made for the bonds to be listed on the Oslo Stock Exchange. DNB Markets and Pareto Securities acted as Global Coordinators and Joint Bookrunners, and Clarksons Securiti...
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