Brought to you by Quest Offshore & Southern Cone Consultants
Seismic services player Polarcus posted a loss of $19 million for the fourth quarter of 2019, but the company expects to benefit from an improving backlog. According to its financial statement on Thursday, Polarcus recorded revenues of $55.3 million in the fourth quarter of 2019, compared to $58.4 million in Q4 2018. Polarcus posted a... Continue Reading →
Offshore drilling contractor Seadrill has seen an improvement in the offshore drilling market throughout 2019. Although the pace of the recovery has slowed down at the beginning of 2020, Seadrill expects continued market recovery over the remainder of the year. According to its report on Thursday, Seadrill’s revenues in the fourth quarter of 2019 were... Continue Reading →
Oilfield services provider TechnipFMC saw an “unprecedented level” of inbound orders in 2019, which pushed its backlog to over $24 billion. TechnipFMC booked a loss of $2.4 billion due to after-tax charges and credits. TechnipFMC on Thursday posted revenues of $3.7 billion for 4Q 2019, a 12.2% increase compared to the same period in 2018... Continue Reading →
Malaysian state oil firm Petronas said on Wednesday its fourth-quarter profit slumped 71%, hurt by impairment costs and lower prices of major products. Petronas said profit after tax for the October-December period fell to 4.1 billion ringgit ($968.12 million) from 14.3 billion ringgit in the same period a year earlier. Excluding impairment charges, profit totaled... Continue Reading →
Italian oil services group Saipem said on Wednesday it expected higher sales this year after it beat its 2019 targets and introduced a dividend for the first time in seven years. But it warned that concerns over the impact of the coronavirus and political uncertainty in certain parts of the world could weigh on weak... Continue Reading →
Engineering and construction specialist Subsea 7 has seen red in the fourth quarter 2019 on activity drop in renewables and heavy lift division. The Oslo-listed firm posted quarterly loss of $129 million, or $45 cents per diluted share, on revenue of $889 million, versus profit of $32 million, or $12 cents per diluted share on... Continue Reading →
Oceaneering has reported a net loss of $263 million, or $2.66 per share, for the three months ended December 31, 2019, despite revenue rise. The result compares with net loss of $64 million same time last year. During the prior quarter ended September 30, 2019, Oceaneering reported a net loss of close to $26 million,... Continue Reading →
Houston-based offshore services company Helix Energy Solutions managed to return to quarterly profit on the back of higher revenues driven by higher utilization and integrated services in the Gulf of Mexico. The company on Monday reported net income of $7.9 million for the fourth quarter of 2019 compared to a net loss of $13.7 million... Continue Reading →
U.S.-based Kosmos Energy sank to a loss in the last quarter of 2019 despite a significant increase in revenues compared to the same period of 2018. According to its report on Monday, Kosmos generated a net loss of $35.8 million in the fourth quarter of 2019 compared to a profit of $185.6 million in the... Continue Reading →
DOF Subsea, a wholly-owned subsidiary of DOF Group, reported loss in the fourth quarter of 2019 of NOK 30 million ($3.2 million), compared to loss of NOK 458 million ($49.1 million) in the corresponding period in 2018. Full-year result for 2019 came out negative, with loss of NOK 1.13 billion ($121.4 million), against loss of... Continue Reading →
