Norwegian driller Fred. Olsen Energy(Oslo:FOE) reports results YTD(jan-sep)
Revenues 3700,8 NOK mill(+17%)
EBIT 1551.3 NOK mill(+40%)
EPS 22.3 NOK (+36%)
"Outlooks
During the 3rd quarter of 2008 the market for offshore services continued to strengthen. Globally, the balance between supply and demand for offshore drilling units continued to be tight in all floater segments. The demand for offshore drilling services is expected to continue, however the financial turmoil and falling oilprice might lead to revised oilprice budgets and delays of projects by the oil companies."
P/E(TTM) 7.8
The report(pdf)
Also Transocean(Nyse:RIG) has been awarded a five-year contract with a day rate of ~$640 000(total contract revenues $1.17-1.19 billion) for its newbuild ultra-deepwater drillship yet to be named. The name of the customer hasn't been disclosed.
Press release
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