BW Offshore returns to quarterly profit

FPSO operator BW Offshore returned to profit during the third quarter of the year. 

Namely, according to the company’s financial report on Friday, net profit for the 2017 quarter was $3.9 million compared to a loss of $11.2 in the third quarter of 2016.

BW Offshore’s operating revenues for the quarter dropped to $152.7 million compared to $159.6 million in the prior-year period.

The company’s net debt at the end of the quarter was $1.5 billion.

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