Subsea 7 SA (PK) (SUBCY) News

News: $SUBCY Deutsche Bank's Depositary Receipts Virtual Investor Conference presentations now available for On-Demand Viewing

Deutsche Bank's Depositary Receipts Virtual Investor Conference presentations now available for On-Demand Viewing Canada NewsWire NEW YORK, May 17, 2019 NEW YORK , May 17, 2019 /CNW/ - Deutsche Bank today announced that the presentations from the May 15 th and 16 th D...

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Feels like Peeing Calvin in a Force 10 gale

ROV operators moat chart

SUBCY $14.990 .









http://www.stockta.com/cgi-bin/analysis.pl?symb=SUBCY&cobrand=&mode=stock


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Subsea 7 swings to profit, launches share buyback

By
DOMINIC
CHOPPING
Norwegian seabed-to-surface engineering contractor Subsea 7 S.A. (SUBC.OS) said Thursday it swung to a second quarter net profit, maintained full-year guidance and said it is launching a new $200 million share buyback programme.

CEO Jean Cahuzac said "The group has now completed the $200 million share repurchase programme announced in October 2013. In the light of continued strong performance, the strength of the balance sheet and confidence in our business, the Board of Directors has authorised a further share repurchase programme of up to $200 million."

The company posted a second quarter net profit of $270.3 million from a loss of $17.3 million, on revenue of $1.91 billion, up from $1.68 billion in the same period last year.

The backlog at June 30 totaled $11.2 billion, compared to $10.4 billion.

"Tendering activity remains high in many areas where we operate, which suggests a positive medium- and long-term outlook for our business. However, given the continuing uncertainty over the timing of market awards for a number of large SURF projects, as well as for our Conventional business, it is premature to offer guidance beyond the current year."

At 0759 GMT shares traded 6.1% higher at NOK109.30.

http://www.marketwatch.com/story/subsea-7-swings-to-profit-launches-share-buyback-2014-07-31


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Subsea 7 Gets $160 Million Contract in Gulf of Mexico

By Dominic Chopping

Norwegian seabed-to-surface engineering contractor Subsea 7 S.A. (SUBC.OS) Thursday announced the award of a three-year $160 million contract extension by BP Exploration & Production Inc. for light subsea construction, inspection, repair and maintenance services in the US Gulf of Mexico.


MAIN FACTS:
-The contract will run from the second quarter 2014 to the third quarter 2017.

-Shares closed Wednesday at NOK118.90, valuing the company at NOK41.83 billion.

-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter: @WSJNordics

http://ih.advfn.com/p.php?pid=nmona&article=62036434


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Subsea 7 Gets $110 Million Pact Offshore Brazil

By Dominic Chopping

Norwegian seabed-to-surface engineering contractor Subsea 7 S.A. (SUBC.OS) said Friday it has been awarded a $110 million contract from Shell (RDSA.LN) for engineering work on the BC-10 Phase 3 Project in the Campos Basin offshore Brazil.


MAIN FACTS:
-Project management and engineering will be performed from Subsea 7's offices in Rio de Janeiro and will commence in 1Q 2014 with the offshore campaign starting in 3Q 2015, using the construction/flexlay vessel the Skandi Neptune.

-The project has a total duration of approximately two years.

-At 0834 GMT shares traded 0.8% higher at NOK106.50.

-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter: @WSJNordics

http://ih.advfn.com/p.php?pid=nmona&article=61539174


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Subsea 7 Gets $75 Million Contract Offshore Canada
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By Dominic Chopping

Norwegian seabed-to-surface engineering contractor Subsea 7 S.A. (SUBC.OS) Friday announced the award of a $75 million three-year subsea construction services contract by ExxonMobil Canada Properties.


MAIN FACTS:
-The contract supports the Hebron heavy oil field development, located in the Jeanne d'Arc Basin 350 kilometres southeast of St. John's, Canada.

-The contract scope includes the project management, engineering and installation of two Offshore Loading Systems in a water depth of 92 metres.

-Engineering and project management will begin immediately from Subsea 7's offices in St John's.

-At 0803 GMT shares traded 1.7% higher at NOK116.30.

-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter: @WSJNordics

http://ih.advfn.com/p.php?pid=nmona&article=61262398


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Subsea 7 Gets $500 Million Contract Offshore Ghana

By Dominic Chopping

Norwegian seabed-to-surface engineering contractor Subsea 7 S.A. (SUBC.OS) said Thursday that as part of a consortium with Technip (TEC.FR), it has been awarded a contract from Tullow Ghana Limited for a project offshore Ghana. Subsea 7's share of the contract is valued at $500 million.


MAIN FACTS:
-There is a significant fabrication scope of work which will be executed in Ghana.

-Onshore operations will be led by a team who will be located in Ghana.

-Engineering will commence immediately with offshore installation scheduled to commence in mid-2015, using the Seven Borealis.

-The TEN Field is located in the Deepwater Tano Contract Area, 60km off the coast of Ghana and approximately 30km west of the Tullow Operated Jubilee Field.

-Shares closed Wednesday at NOK128.20, valuing the company at NOK45.1 billion.

http://ih.advfn.com/p.php?pid=nmona&article=59812141


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Subsea 7 Nets TWO Petrobas Contracts For $600m+

Subsea 7 Gets Two Contracts Worth Over $600 Million From Petrobas

By Dominic Chopping

Norwegian seabed-to-surface engineering contractor Subsea 7 S.A. (SUBC.OS) Monday announced the award of two contracts with a combined value in excess of $600 million from Petrobras (PBR).


MAIN FACTS:
-The contracts are for operation of the Pipelay Support Vessels (PLSVs) Seven Mar and Seven Condor on a day rate basis for approximately three years, with operations starting toward the end of 2013 for Seven Mar and in 3Q 2014 for Seven Condor.

-Both vessels have operated for Petrobras for several years and are currently under contract with Petrobras.

-The work scope of the contract is similar to that of other PLSVs which Subsea 7 currently operates offshore Brazil, comprising project management, engineering and installation of flowlines, umbilicals and equipment supplied by Petrobras.

-Shares closed Friday at NOK128.60, valuing the company at NOK45.24 billion.

-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter: @WSJNordics

http://ih.advfn.com/p.php?pid=nmona&article=59675010


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