Brief: Prosafe Foresees Substantial Further Increases In Day Rates, Utilisation

Prosafe SE

25/10/2023 15:35

Oct 25 (Reuters) - Prosafe SE  PRSO.OL :
    * FORESEES SUBSTANTIAL FURTHER INCREASES IN DAY RATES AND UTILISATION GOING FORWARD
    * MARKET AND OUTLOOK: LIQUIDITY IMPACTED BY CURRENT NORTH SEA ACTIVITY LEVEL AND CAPITAL
EXPENDITURE PLUS MOBILISATION SPEND FOR NEW CONTRACTS IN BRAZIL AND US GULF OF MEXICO (US GOM)
    * Q3 2023 UTILISATION OF 52.3% (77.3%)
    * MARKET AND OUTLOOK: NEW CONTRACTS EXPECTED IN BRAZIL WHICH MAY ABSORB FURTHER HIGH-END
UNITS
FROM NORTH SEA AND OTHER REGIONS, FURTHER TIGHTENING SUPPLY
    * CASH FLOW FROM OPERATIONS OF NEGATIVE USD14.0 MILLION (USD 24.5 MILLION), IMPACTED BY
LOWER
OPERATING RESULT AND HIGHER WORKING CAPITAL
    * SEES INCREASED VESSEL DEMAND GOING FORWARD WHICH IS EXPECTED TO LEAD TO HIGHER
UTILISATION,
IMPROVED  DAY RATES AND EARNINGS GROWTH

Source text for Eikon:  ID:nGNE7DJcJx 
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