Brief: BW Offshore Q1 EBITDA At $130 Million

Bw Offshore

26/05/2020 07:04

May 26 (Reuters) - BW Offshore Ltd  BWO.OL :
    * Q1 OPERATING REVENUE $258  MILLION VERSUS $230.5 MILLION YEAR AGO
    * Q1 EBITDA USD 130  MILLION VERSUS USD 136.5 MILLION YEAR AGO
    * Q1 EBIT LOSS $198.7 MILLION VERSUS PROFIT $50.0 MILLION YEAR AGO
    * BOARD OF DIRECTORS HAS DECLARED A CASH DIVIDEND OF USD 0.034 PER SHARE.
    * BW ADOLO 2020 PRODUCTION FORECAST 15,000-16,500 BBLS/DAY (GROSS) FROM FOUR WELLS
    * COMPLETION OF TWO ADDITIONAL TORTUE WELLS DEFERRED TO Q2 2021
    * MAINTAINS AN ACTIVE DIALOGUE IN RELATION TO SEVERAL FIELD-DEVELOPMENT PROSPECTS AND FPSO
PROJECTS.
    * TO PAY INITIAL CASH DIVIDEND OF USD 0.034 PER SHARE IN Q2
    * FIRM BACKLOG OF USD 2.9 BILLION AT END OF MARCH, UP FROM USD 2.7 BILLION AT END 2019
    * FPSO FLEET CONTINUED TO DELIVER CONSISTENT HIGH UPTIME IN QUARTER WITH AN AVERAGE
COMMERCIAL
UPTIME FOR FLEET OF 97.3% (99.0%)
    * COMMERCIAL UPTIME WAS AFFECTED BY A SHUTDOWN ON BW CIDADE DE SÃO VICENTE AND A PLANNED
SHUTDOWN
ON ESPOIR IVOIRIEN

Source text for Eikon:  ID:nGNE4H9sJX 
Further company coverage:  BWO.OL 

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