Golar LNG Partners Second Quarter Results 2014 26 August 2014
Q2 2014: Highlights & Recent Events Net income attributable to unit holders of 37.8 million and operating income of 62.1 million. Generated distributable cash flow of 45.1 million for the quarter, with a coverage ratio of 1.25.…
Balance Sheet: Assets 2014 2014 2013 Jun 30 Mar 31 Dec 31 (unaudited) (unaudited) (audited) (USD thousands) Short term assets Cash and cash equivalents 48,478 48,935 103,100 Restricted cash and short-term investments 24,921…
Balance Sheet: Liabilities 2014 2014 2013 Jun 30 Mar 31 Dec 31 (unaudited) (unaudited) (audited) (USD thousands) Short term liabilities Current portion of long term debt (including debt due to related parties) 219,960 188,692…
Distributable Cash Flow Three months Three months (USD thousands) ended ended Jun 30, 2014 Mar 31, 2014 Net Income before non controlling interest 40,527 35,184 Add: Depreciation and Amortisation 19,895 17,648 Unrealised loss…
Distributable Cash Flow & Distributions Distributions paid on additional units issued in 50,000 Distributable cash advance of Golar Igloo drops as a result of scheduled acquisition drydock of Golar Spirit, Winter, 45,000 Following…
Assets and Contracts 2.4 billion contracted revenue Average 6.0 years remaining contract term Counterparty 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Golar Spirit 10-year contract Golar Winter 10-year contract…
Recent acquisition: Golar Igloo Purchase price 310.0 million Financed by: Proceeds from December 2013 Equity Issue 148.7 million Debt (acquired with vessel) 161.3 million Initial contract term to March 2019 (commenced March 1,…
Acquisition Target: Golar LNG finalized 10 year FSRU contract in Jordan: First 5 years EBITDA of 46 Million. Second 5 years EBITDA of 43 Million. Jordan has option to terminate contract after 5 years with payment of a termination…
Growth FSRUs: Carriers: 5 FSRUs in current portfolio and 6th 4 Carriers in current fleet - parent has 12 carriers identified acquisition target, Golar Eskimo. operating or being built that represent potential future acquisition…
Growth Floating Liquefaction: Conversion of Golars first FLNGV with Keppel and Black & Veatch now underway. Multiple deployment opportunities identified and Golar engaged in discussions and negotiations with various parties.…
Summary Solid contract base - Revenue backlog of 2.4 billion and average contract term of 6.0 years. Khannur Excellent operating results 99.9% average utilization for the last 4 quarters. Golar Freeze Identified Golar…
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