Agenda Q4 review Q4 financial highlights Yard stays and Cat D project update Fleet and contract update 3
Past the watershed Sale and hand-over of Songa Eclipse Liquidity restored Songa Trym completed All five rigs on contract Challenging quarter now ready to move on to the Strengthened board and management team next phase Solid…
Songa Trym delays and cost overrun Never again Ernst & Young commissioned to independently audit the process. Songa not familiar with the rigs: Took over management of the rig the same day it went into the yard. Work schedule for…
Management and board Strengthening of board Two new board members Strengthening of mgmt team New president of Songa Rig AS Clear responsibilities and accountabilities CEO Songa Songa Rig Songa KL Mgmt AS AS Commercial…
CAT-D on track Top management team in Korea in January to assess project. Comfortable with project development: On track progress and costs. Independent audit confirms quality and work of project team. No indications of delay on…
Financing of new rigs Financing committee established at Board level 6.6 bn in back-log contract value 8 years contracts with Statoil
Way forward GOALS: OPERATIONAL STRATEGIES: Become leading mid Take possesion of four new Cat-D rigs water rig operator on the NCS Maximise cash flow from operations; focus on efficiency and high margin Eliminate discount of…
Agenda Q4 review Q4 financial highlights Yard stays and Cat D project update Fleet and contract update
P&L Q4 2012 Songa Offshore Group Consolidated Income Statement for the period ended 31 December 2012 (IFRS unaudited figures) Q4 Q3 Q4 Jan-Dec Jan-Dec Amounts in USD '000 2012 2012 2011 2012 2011 Operating revenue 134 560 145…
Revenues and quarterly day rates Q4 U SD '000 V enus M ercur E c lipse D elta D ee T rym M gmt G roup O perating revenue 20 909 20 624 35 082 16 397 31 519 5 268 - 129 799 M obilisation - 4 761 - - - - - 4 761 O ther 417 10 784 1 198 2…
Balance Sheet Q4 2012 Songa Offshore Group Condensed consolidated statement of financial position at 31 December 2012 (IFRS - unaudited figures) A (USD '000) 31.12.2012 31.12.2011 ASSETS Non-current assets Rigs, machinery and…
Balance Sheet Q4 2012 Songa Offshore Group Condensed consolidated statement of financial position at 31 December 2012 (IFRS - unaudited figures) (USD '000) 31.12.2012 31.12.2011 EQUITY AND LIABILITIES Capital and reserves Issued…
Cash flow statement Songa Offshore Group Consolidated statement of cash flows for the quarter ended 31 Dec 2012 (IFRS - unaudited figures) (USD '000) 31.12.2012 31.12.2011 C ash flows from operating activities: Profit before tax…
Agenda Q4 review Q4 financial highlights Yard stays and Cat project Fleet and contract update
Songa Delta has commenced operations Songa Delta continued its operator sponsored upgrade and life enhancement yard stay at CCB. The project was finalized and the rig departed from CCB during the first week of November and thereafter…
Songa Tryms SPS and upgrade project completed Songa Tryms SPS (Special Periodic Survey) and Operator sponsored rig upgrade & life enhancement program at CCB completed. On stand-by rate (93%) from February 18, 2013. Statoil currently…
Cat-D project Delivery Schedule Songa Equinox June 2014 Equinox Endurance Songa Endurance October 2014 Songa Encourage February 2015 Songa Enabler May 2015 Sound economics based on long term contracts USD 40m mobilization fee per…
Agenda Q4 review Q4 financial highlights Yard stays and Cat D project Fleet and contract update
Loading...
