Songa in better shape Strengthened organisation and management more resources on most critical processes Strengthened strategic, financial and operational capacity Focused strategy on becoming the leading mid water rig…
Achievements All rigs in operation on good rates and high utilisation Income in line with expectations Liquidity restored after sale of Songa Eclipse Retaining profit and cash from operations CAT D project according to…
Agenda Q1 review Fleet and contract update Market update 5
Highlights Q1 2013 / Q2 2013 Songa Offshore SE Results for Q3 2010 Songa Eclipse - Delivered to Seadrill on January 3. Debt repayment 5, November of 2010 USD 305 million. Songa Trym - SPS (Special Periodic Survey) and Operator…
P&L Q1 2013 Songa Offshore Group Consolidated Income Statement for the period ended 31 March 2013 (IFRS unaudited figures) Q1 Q4 Q1 Jan-Dec Amounts in USD '000 2013 2012 2012 2012 Operating revenue 124,771 134,560 131,116 562,240…
Revenues and quarterly day rates Q1 U S D '0 0 0 V enus M e rcur E c lip s e D e lta Dee Try m O th e r G ro up O p e r a tin g r e v e n u e 20 413 23 868 1 106 31 334 30 744 12 648 - 120 113 M o b ilis a tio n / D e m o b . - 4 658 -…
Operating expenses Breakdown expenses U S D '0 0 0 V EN US M ERC UR EC LIP S E D ELTA D EE TRYM MGMT TO TA L R i g O P E X o f f s h o re 9 762 15 197 (706) 17 721 16 132 9 666 - 67 772 G & A o n s h o re 2 003 2 274 940 2 862 2 761 2…
Balance Sheet Q1 2013 S o n g a O ffs h o r e G r o u p C o n d e n s e d c o n s o lid a te d s ta te m e n t o f fin a n c ia l p o s itio n a t 3 1 M a r c h 2 0 1 3 (IFR S - u n a u d ite d f ig u r e s ) ( U S D '0 0 0 ) 3 1…
Balance Sheet Q1 2013 S o n g a O ffs h o r e G r o u p C o n d e n s e d c o n s o lid a te d s ta te m e n t o f fin a n c ia l p o s itio n a t 3 1 M a r c h 2 0 1 3 (IFR S - u n a u d ite d f ig u r e s ) ( U S D '0 0 0 ) 3 1…
Cash flow statement S o n g a O ffs h o r e G r o u p C o n s o lid a te d s ta te m e n t o f c a s h flo w s fo r th e q u a r te r e n d e d 3 1 M a r c h 2 0 1 3 (IFR S - u n a u d ite d f ig u r e s ) ( U S D '0 0 0 ) 3 1 .0…
Capital expenditures 2013 Major investments per rig In v e s t m e n t s in rig s 2 0 1 3 U S D '0 0 0 Q1 YTD Songa Venus 29 29 S o n g a M e rc u r 79 79 S o n g a D e lt a 872 872 S o nga De e 122 122 S o n g a T ry…
Agenda Q1 review Fleet and contract update Market update 14
Contract status and revenue backlog 2013 2014 2015 2016 Unit Customer Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 NCS Songa Dee Statoil 1y Songa Trym Statoil 2x1 year Songa Delta Statoil 1y Revenue backlog (USDm) Contract 386 386…
Agenda Q1 review Fleet and contract update Market update 17
Semisubmersible market Worldwide Semisubmersible utilization is slowly improving toward 90%. We believe this is an inflection point for an accelerated increase in dayrates: Source: IHS Petrodata
Semisubmersible market Market forecasts already predicting the 90% utilization barrier will be breached in the next few months, with pronounced demand increases in Southeast Asia and the Far East: Source: IHS Petrodata
Southeast Asia floater market Rates have been flat in Southeast Asia. However, market forecasts indicate tightening over the summer with a lower than average surplus going forward. Source: IHS Petrodata and Platou
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