Liikevaihto $248.54 miljoonaa (+172%)
Operatiivinen kassavirta $62.98 miljoonaa (+340%)
Liikevoitto $-2.31 miljoonaa
EPS $-0.48
Tase
Varat
Lyhytaikaiset $338.44 miljoonaa
Kaikki $1,341.95 miljoona
Velat
Lyhytaikaiset $247.59 miljoonaa
Kaikki $885.33 miljoonaa
Omapääoma $456.62 miljoonaa
P/B 0.62
Näkymät
"During the past 4 years, Scorpion constructed and delivered six ultra premium jackups and has operated in 7 different countries. Needless to say, Scorpion has the most modern fleet of ultra premium jackups in the world. During this time, the Company has secured the best-in-class jackup contract backlog with some of the largest and most credit worthy national and major oil companies.
The Board is convinced that this platform provides a solid foundation to navigate the current industry downturn and deliver superior financial performance in the future. The Board believes that the worldwide jackup drilling markets will improve during the next 18 to 24 months. The current reduction in oil and gas production coupled with inherent existing field depletion rates will negatively impact the oil industry’s ability to meet future demand as global economic growth returns. Apart from Saudi Arabia, Angola, and Brazil most other oil producing countries are experiencing significant production declines and/or reserve-life reductions. More hydrocarbon reserves will need to be discovered and produced"
Raportti
Miinus viivan alla johtuu kertaeristä: rakenteilla olleen semin sopimuksen purusta ja Offshore Mischieffin arvon alennuksesta.
Neljännen neljänneksen keskimääräiset operointikustannukset per lautta per päivä olivat $63,393, vertailuksi esim. Diamond Offshoren viimeisimmän kvartaalin jackup operointikustannukset olivat $66 ,233.
2 comments:
Hi, do you understand norwegian, this is from a norwegian forum:
"Såvidt jeg kan se så er alt over ca 100k$ pr dag pr rigg i dag ren profitt til Scorpion..
Selger de den siste riggen så vil det etterhvert som gjelden nedbetales frigjøres ca 8k$ pr dag pr rigg i finanskost hvert år de neste tre årene
(hvis selskapet prioriterer nedbetaling).
Og når markedet tar seg opp igjen en eller annen gang vil da en kontrakt på f.eks 175k pr dag føre til nesten 50% økning av bunnlinjen.
Dette kommer til å bli en pengemaskin, for langsiktige aksjonærer er det egentlig best at selskapet ikke kjøpes opp.
Selskapet vil etterhvert prises riktig, som det står i ett innlegg over her så vil en sannsynlig kurs være over 80 kr ved slutten av 2012 med et konservativt utgangspunkt i en årlig direkteavkastning på over 10% fra utbytte.
Og skulle ratene da ligge på 175k eller over vil de tjene mye mye mer, vi snakker da om potensiale for årlig utbytte opp mot 15 kr pr aksje, dvs en direkteavkastning på 15% ved en kurs på 100!"
http://forum.hegnar.no/thread.asp?id=1449068
Thank you for the comment and the link!
I understand the written variety relatively well.
There are some very interesting figures in the post.
A quick comment/opionion on day rates:
These days jackups, even ultra premiums primarily drill for natural gas, because most shallow water oil deposites have been depleted. The operating cost per day for jackups vary globally from 40 000 to 70 000 dollars. The operating cost for land rigs in North America vary from $8 000 to 15 000. A pressure pumping unit's operating costs are around 15 000 dollars per day. So the operating costs of a single jackup equals the operating costs of two land rigs plus two pressure pumping units for hydraulic fracturing. Considering some of the recent flow rates that have been achieved from fractured horizontal wells(2000-3000 boe/d) in Haynesville and Horn River shales jackups simply don't seem competitive in North America.
With some of the North American rig demand gone probably for good and newbuilds entering the market I don't think we'll see $175k rates for "standard" ultra premiums, the harsh environment/heavy duty/ long legged(400-500 ft) ones are a different case.
But as the post from the Hegnar forum points out, Scorpion doesn't need $175k rates to achieve good returns.
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