DOF ASA (DOF) 🚢

[Metallian]

• Official tender results:
o High end PLSVs offered between USD 320-390kpd
 DOFCON owns 2 PLSVs with the highest tension capacity; hence, most capable assets
o Skandi Niteroi has been bid at USD 243kpd, worked at USD 160kpd
o Skandi Vitoria has been bid at USD 281kpd, worked at USD 125kpd
o Skandi Acu bid at USD 353kpd, up from USD 265kpd
o Skandi Buzios bid at USD 353kpd, up from USD 235kpd
• It will increase annualized EBITDA from DOFCON JV to DOF at NOK ~570m if all are awarded
• ARCe’25 EBITDA of NOK 5.6bn; hence, new EBITDA equals possibly NOK 6.15bn
• If we appoint 4x EV/EBITDA’25e, it implies NOK ~95/sh

[TekBot]

DOF Group ASA - Sale of Skandi Captain

DOF Rederi AS, a fully owned subsidiary of DOF Group ASA, has today entered into
an agreement to sell the 2004 built, medium-size PSV Skandi Captain to an
international buyer.
…

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The vessel will be delivered in Q1 2024 and the sale will have a positive
accounting effect.

For further information, please contact:

Martin Lundberg, SVP Finance and Investor relations DOF Group ASA
Phone: +47 916 21 057
E-mail: martin.lundberg@dof.com

About DOF Group ASA

With a multi-national workforce of about 4,000 personnel, DOF Group ASA is an
international group of companies which owns and operates a fleet of modern
offshore/subsea vessels, and engineering capacity to service both the offshore
and subsea market. With over 40 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology,
and capacity. DOF’s core businesses are vessel ownership, vessel management,
project management, engineering, vessel operations, intervention, and diving
operations primarily for the oil and gas sector. From PSV charter to Subsea
engineering, DOF offers a full spectrum of top quality offshore services to
facilitate an ever-growing and demanding industry.

The Company’s main operation centers and business units are located in Norway,
the UK, the USA, Singapore, Brazil, Argentina, Canada, Angola, and Australia.

Kilde

[TekBot]

Flaggemelding ned i Dof Group ASA.

DNB Bank ASA har i går, tirsdag 12. desember 2023, solgt 6.400.000 aksjer selskapet DOF Group ASA («selskapet»). DNB-konsernet innehar etter dette 5.019.135 aksjer i selskapet, tilsvarende 2,84 prosent av aksjekapitalen og antall stemmer i selskapet.
…

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Kilde

[TekBot]

DOF Group signed Jones Act Compliant Charter for GoM Operation

DOF Group is pleased to announce the chartering of the Connor Bordelon to
support the North America operation in the US Gulf of Mexico for 1-year term
with a 1-year option.
…

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The Time charter will commence in March 2024 when DOF will mobilize 2 Heavy-work
class ROVs and survey as part of the integrated spread to ensure client coverage
between the end of the charter of the Ross Candies in February 2024 and the
start of charter of Cade Candies in 2025. The Connor Bordelon is an USA 78m DP
II vessel with a 60ton AHC Crane capable to reach 3,000m water depth, 60
accommodation, Helideck and 572m[2] open deck.
“The combination of the vessel capability and terms, the Jones Act Compliance
and its low fuel consumption, makes of the Connor Bordelon one of the most cost
cost-effective IMR and light Construction vessel in the GoM for the next 2-years
offered in combination with the capabilities of the Cade Candies” Marco
Sclocchi, EVP North America explains.
Mons Aase, DOF’s Group CEO added “We believe that DOF’s sustainable presence in
the GoM is a key part of the Group global strategy for integrated offshore
services and we welcome Bordelon Marine as key partner together with Otto
Candies for our Jones Act Complaint operation”.
For further information, please contact:
Martin Lundberg, SVP Finance and Investor Relations DOF Group ASA
Phone: + +47 916 21 057
E-mail: martin.lundberg@dof.com

About DOF Group ASA

With a multi-national workforce of about 4,000 personnel, DOF Group ASA is an
international group of companies which owns and operates a fleet of modern
offshore/subsea vessels, and engineering capacity to service both the offshore
and subsea market. With over 40 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology,
and capacity. DOF’s core businesses are vessel ownership, vessel management,
project management, engineering, vessel operations, intervention, and diving
operations primarily for the oil and gas sector. From PSV charter to Subsea
engineering, DOF offers a full spectrum of top quality offshore services to
facilitate an ever-growing and demanding industry.

The Company’s main operation centers and business units are located in Norway,
the UK, the USA, Singapore, Brazil, Argentina, Canada, Angola, and Australia.

Kilde

[Metallian]

Dofg leier inn enda en båt-artig

[aksjewonka]

Sammenheng?

4th Cycle of the Open Acreage in the Concession Regime has a record number of...

Mye arbeid etterhvert…

[TekBot]

DOF Group ASA - Multiple project awards

DOF has secured an EPRD project for a North Sea operator, including the project
management, engineering, logistics and execution of an FPSO cessation project.
DOF shall disconnect, transport and pre-moor the floating unit, and retrieve and
…

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recycle the mooring system.

Project management and engineering starts immediately, while offshore execution
is planned in Q3 2024 utilising in total four vessels, including Skandi Hera and
Skandi Iceman.

In the APAC region, DOF has been awarded a contract to provide field
decommissioning support in association with a depleted field off the Australian
coast.

The award includes project management, engineering, procurement, and offshore
services and is expected to be completed over a five-to-seven-week period
commencing in December 2023. The project will utilise the CSV Skandi Hercules
which, with two permanently installed WROV systems and a 250Te AHC crane, is
ideally suited to these operations.

The combined revenue from the two projects is estimated to approximately USD 30
million.

For further information, please contact:

Martin Lundberg, SVP Finance and Investor Relations DOF Group ASA
Phone: + +47 916 21 057
E-mail: martin.lundberg@dof.com

About DOF Group ASA

With a multi-national workforce of about 4,000 personnel, DOF Group ASA is an
international group of companies which owns and operates a fleet of modern
offshore/subsea vessels, and engineering capacity to service both the offshore
and subsea market. With over 40 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology,
and capacity. DOF’s core businesses are vessel ownership, vessel management,
project management, engineering, vessel operations, intervention, and diving
operations primarily for the oil and gas sector. From PSV charter to Subsea
engineering, DOF offers a full spectrum of top quality offshore services to
facilitate an ever-growing and demanding industry.

The Company’s main operation centers and business units are located in Norway,
the UK, the USA, Singapore, Brazil, Argentina, Canada, Angola, and Australia.

Kilde

[TekBot]

DOF Group ASA - Multiple project awards

DOF is pleased to announce multiple subsea service contracts in the Asia Pacific
region utilising CSV Skandi Hercules for offshore execution in 2024.

…

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Three subsea service contracts have been secured from Australian-based
operators. The contracts will utilise Skandi Hercules, adding approximately 6
months of utilisation in 2024 and into Q1 2025. The contracted scope includes
the team’s inhouse capability to deliver project management and engineering,
logistics support and execution of various remediation activities, pre
-commissioning and commissioning support, and field decommissioning operations.

Mons Aase, DOF Group ASA CEO, said, “These awards secure substantial backlog for
the APAC region with an estimated combined value of over USD 36 million.”

For further information, please contact:
Martin Lundberg, SVP Finance and Investor Relations DOF Group ASA
Phone: + +47 916 21 057
E-mail: martin.lundberg@dof.com

About DOF Group ASA

With a multi-national workforce of about 4,000 personnel, DOF Group ASA is an
international group of companies which owns and operates a fleet of modern
offshore/subsea vessels, and engineering capacity to service both the offshore
and subsea market. With over 40 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology,
and capacity. DOF’s core businesses are vessel ownership, vessel management,
project management, engineering, vessel operations, intervention, and diving
operations primarily for the oil and gas sector. From PSV charter to Subsea
engineering, DOF offers a full spectrum of top quality offshore services to
facilitate an ever-growing and demanding industry.

The Company’s main operation centers and business units are located in Norway,
the UK, the USA, Singapore, Brazil, Argentina, Canada, Angola, and Australia.

Kilde

[Culibre]

– Det råeste aksjecaset på Oslo Børs i 2024

[Culibre]

Vi har klint litt til i offshore i høst, sier Hauge til Finansavisen.

Energi er blitt en stor sektor for Odin Norge – fondet som Hauge forvalter og som har hatt en avkastning på 13 prosent i år. I lengre tid har det eid «trygge navn» som Subsea 7 og TGS.

– Subsea 7-storyen funker bra. Det blir en margin-syklus nå, og det kommer til å sprute cash, sier forvalteren.

Det er imidlertid en annen offshoreaksje som får mer enn bare tomlene opp fra Hauge.

– Det kommer til å sprute enda mer i DOF.

– DOF er det råeste aksjecaset på Oslo Børs i 2024, sier han.

[Thomastoget]

Råeste caset er vel kanskje litt å ta i. Pen risk/reward tenker jeg

[TekBot]

Prime Energy Extends MPSV Contract to the end of 2027

DOF Group is pleased to announce that Prime Energy Resources Development B.V.
(Prime Energy) has extended the contract for provision of the MPSV Skandi Hawk
to the end of 2027.
…

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DOF has been providing MPSV and subsea services to Prime Energy (formerly Shell
Philippines Exploration B.V) in support of the Malampaya gas field operations
offshore Philippines since April 2015 and subsea support and IRM services for 13
years prior to that. An agreement has now been reached to extend the existing
contract including Project Management and Engineering services, Subsea
Inspection, Repair and Maintenance Services and the Multipurpose Platform Supply
Vessel (MPSV) Skandi Hawk from February 2024 until 31 December 2027 in support
of the continued operation and growth of the Malampaya field operations.

Mons Aase, CEO DOF Group ASA, said: “This is a substantial contract extension
with an estimated value of over USD 60M. It builds on the successful partnership
between our team in APAC with Prime Energy and the Malampaya field since
production commenced and we look forward to continuing to support Prime Energy
in the years to come.”

For further information, please contact:

Martin Lundberg, SVP Finance and Investor Relations DOF Group ASA
Phone: + +47 916 21 057
E-mail: martin.lundberg@dof.com

About DOF Group ASA

With a multi-national workforce of about 4,000 personnel, DOF Group ASA is an
international group of companies which owns and operates a fleet of modern
offshore/subsea vessels, and engineering capacity to service both the offshore
and subsea market. With over 40 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology
and capacity. DOF’s core businesses are vessel ownership, vessel management,
project management, engineering, vessel operations, survey, remote intervention
and diving operations primarily for the oil and gas sector. From PSV charter to
Subsea engineering, DOF offers a full spectrum of top quality offshore services
to facilitate an ever-growing and demanding industry. The Company’s main
operation centres and business units are located in Norway, the UK, the USA,
Singapore, Brazil, Argentina, Canada, Angola, and Australia.

Kilde

[Metallian]

– Vanskelig å overdrive optimismen

Blir gode år …

[aksjewonka]

Arctic's top picks

Hffgj

[Metallian]

Fra XI:

DOFG is set to reap the benefits of a strong subsea market, with visibility for stable high demand going forward and limited sidelined capacity setting the stage for tighter markets. Thus, dayrates are back to previous cycle highs, while we expect rates to exceed the previous peak levels in the coming years. With strong estimated earnings, DOFG is set to deleverage its balance sheet materially and we estimate NIBD/EBITDA of 2.1x-1.3x in YE 2024-2025. The share trades at FSest 4.1-3.1x 2024-2025e EV/EBITDA (or 3.7x and 2.7x respectively on EV/EBITDA incl. WC), making DOFG among the lowest on multiples in the OSV space despite its attractive subsea exposure (peers trade at 5.2-3.8x). We hike our TP to NOK 88/sh (Buy, TP NOK 73, 13.11.23) as we roll our NAV to YE-24 figures. Given the low pricing and attractive subsea market exposure, we highlight DOFG as our top pick in the OSV space. Buy reiterated.

[Graziano]

Høres bra ut. Jeg har kjøpt en kledelig bunke her.

[TekBot]

DOF Group ASA - Contract award

DOF is very pleased to announce a Large Contract with Equinor Energy for the
AHTS Skandi Iceman. The award means that the DOF Group will have two anchor
handlers supporting Equinor’s Norwegian operations until 2027 at the earliest
…

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with Skandi Vega having been on charter to Equinor since delivery 2010. This
contract will build on the long-term relationship between the DOF Group and
Equinor for AHTS services. The contract also includes ROV services provided by
the DOF Group. Commencement will be Q2 2024 with 3-year firm and 3x1 year
options.
Mons Aase, CEO DOF Group ASA, said, “This award demonstrates the performance of
our anchor handling vessels and our crews. We are very happy to see Equinor
selecting DOF for another long term AHTS contract”
For further information, please contact:
Martin Lundberg, SVP Finance and Investor Relations DOF Group ASA
Phone: + +47 916 21 057
E-mail: martin.lundberg@dof.com
DOF Group defines a Large Contract as a contract with value between NOK 500
million to NOK 1 billion

About DOF Group ASA
With a multi-national workforce of about 4,000 personnel, DOF Group ASA is an
international group of companies which owns and operates a fleet of modern
offshore/subsea vessels, and engineering capacity to service both the offshore
and subsea market. With over 40 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology,
and capacity. DOF’s core businesses are vessel ownership, vessel management,
project management, engineering, vessel operations, intervention, and diving
operations primarily for the oil and gas sector. From PSV charter to Subsea
engineering, DOF offers a full spectrum of top quality offshore services to
facilitate an ever-growing and demanding industry.
The Company’s main operation centers and business units are located in Norway,
the UK, the USA, Singapore, Brazil, Argentina, Canada, Angola, and Australia.

Kilde

[Metallian]

Det anslås rate på 500-tallet. Helt innafor vil jeg si.

[TekBot]

DOF Group ASA - Contract award

DOF is very pleased to announce a Substantial Contract with an international oil
company for the PSV Skandi Kvitsøy. The vessel will work in Australian waters
and further strengthen the DOF Group’s presence in Australia. Commencement will
…

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be Q1 2024 with 2-year firm and 2 years options.

For further information, please contact:
Martin Lundberg, SVP Finance and Investor Relations DOF Group ASA
Phone: + +47 916 21 057
E-mail: martin.lundberg@dof.com

DOF Group defines a Substantial Contract as a contract with value between NOK
250 million to NOK 500 million.

About DOF Group ASA:
With a multi-national workforce of about 4,000 personnel, DOF Group ASA is an
international group of companies which owns and operates a fleet of modern
offshore/subsea vessels, and engineering capacity to service both the offshore
and subsea market. With over 40 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology,
and capacity. DOF’s core businesses are vessel ownership, vessel management,
project management, engineering, vessel operations, intervention, and diving
operations primarily for the oil and gas sector. From PSV charter to Subsea
engineering, DOF offers a full spectrum of top quality offshore services to
facilitate an ever-growing and demanding industry. The Company’s main operation
centers and business units are located in Norway, the UK, the USA, Singapore,
Brazil, Argentina, Canada, Angola, and Australia.

Kilde

[Metallian]

Pen rate der- 330k/dag minst

Og bra at det flyttes en high-end psv ut av NS, det sender et signal.