Odfjell Drilling (ODL)

TekBot · februar 13, 2023, 9:47am

Odfjell Drilling Ltd. – Details for Q4 2022 Webcast and Conference Call

In connection with the Q4 2022 earnings announcement on Thursday 16th of February 2023, Odfjell Drilling Ltd will host a webcast and conference call on the same day at 14:00hrs CET. Presenters on the call will include Chief Executive Officer Kjetil Gjersdal, Chief Financial Officer Frode Syslak and Chief Technology Officer Håkon Klepsvik from Odfjell Drilling AS.

There will be a Q&A session subsequent to the management presentation.
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Information on how to submit questions to management will be given at the beginning of the Q&A session.

Please join the event 5-10 minutes prior to scheduled start time. When prompted, provide the confirmation code.

Webcast details:
https://brrmedia.news/OdfjellDrilling_Q4_Results

Conference call:

Dial in number(s)

USA Local: +1 786 697 3501
Norway Local Oslo: +47 2 156 3318
UK-Wide or International: +44 (0) 33 0551 0200
Password (if prompted) Quote Odfjell Drilling Q4 when prompted by the operator

Participants will be asked for name and company.

For further queries, please contact:
James Crothers, Investor Relations Officer
+44 (0) 7393 766 446
jchu@odfjelldrilling.com
London, United Kingdom
13 February 2023
Odfjell Drilling Ltd

Kilde

Professoren · februar 16, 2023, 8:56am

Gode tall i dag. Tror odl vil stige pent i 2023 i dette markedet.

Professoren · februar 16, 2023, 8:56am

DNB med nytt kursmål og kjøpsanbefaling

Professoren · februar 16, 2023, 9:49am

ABG på ODL : Odfjell Drilling delivered Q4 revenues of USD 167m, 9% above ABGSCe and 10% above cons. EBITDA was USD 80m, 10% above ABGSCe at USD 73m and 15% above cons at USD 70m. NIBD was USD 685m, 2%/1% compared to ABGSCe and cons.

Professoren · februar 17, 2023, 8:31am

Oslo (Infront TDN Direkt): DNB Markets høyner kursmålet på Odfjell Drilling til 40 kroner pr aksje, fra tidligere 33 kroner, og gjentar fredag en kjøpsanbefaling på aksjen.

TekBot · mars 13, 2023, 10:18am

Disclosure of major shareholding

TekBot · mars 31, 2023, 5:01am

Odfjell Drilling Ltd. Letters of Intent signed for Deepsea Atlantic

Odfjell Drilling Ltd. is pleased to announce the signing of two Letters of Intent (“LOI’s”) with a single client for the Deepsea Atlantic to conduct operations in the north sea region. The LOI’s have a combined firm duration of 23 months and a value of approximately USD 290 million excluding integrated services, upgrades/modifications or mobilisation fees. In addition to the base value, the LOI’s include provisions for performance bonuses and fuel incentives.

Following the firm period, there are four priced one well options. The arrangement also provides for three further optional periods of approximately one-year each with the rates for each period to be mutually agreed prior to exercising.
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The LOI’s are contingent on license approval with one of the LOI’s also contingent on governmental approval and formalisation of contract. The work will begin consecutively following completion of the Special Periodic Survey, currently planned during first half of 2024.

Kjetil Gjersdal, Chief Executive Officer of Odfjell Drilling AS commented:

“In the year of our 50th anniversary these LOI’s are testament to Odfjell Drilling’s experience and continued drive to innovate and remain at the forefront of change in our industry. While providing valuable, continuous and lengthy backlog these contracts are also a platform for us to take the next step in terms of automation, digitalisation and carbon reduction together with our valued client.

“Over the last decade the Deepsea Atlantic has proven itself to be one of the most efficient ‘well factories’ in the harsh environment segment. We intend to build on this impressive track record and set a new efficiency benchmark for the industry to chase.”

For further queries, please contact:
James Crothers, Investor Relations Officer
+44 (0) 7393 766 446 / +44 (0) 7495 067 684
jchu@odfjelldrilling.com
London, United Kingdom
31 March 2023
Odfjell Drilling Ltd

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Kilde

TekBot · april 3, 2023, 7:34am

Financial calendar

TekBot · april 3, 2023, 9:25am

Odfjell Drilling Ltd. Appointment of Non-Executive Director

Odfjell Drilling Ltd. is pleased to announce the appointment of Knut Hatleskog as a Non-Executive director of the Company, effective immediately.

Mr Hatleskog joins Odfjell Drilling following an extensive career in banking and finance, where he was Senior Vice President and later a Managing Director at Nordea Bank. Further, during his time at Nordea Bank, Mr Hatleskog was also Global Head of Offshore and Oil Services.
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Mr Hatleskog currently serves on the board of Jaco Invest AS and Marine Capital AS and was previously a member of the board of OMP Capital AS. He currently works for Galbraith’s Limited, where he is involved in various shipping and offshore projects, with a focus on their financing.

Mr Hatleskog has an MA from the University of St. Andrews and completed the Nordea Strategic Leadership Program arranged by the London Business School. His appointment to fill the current Board vacancy, brings the board’s size to four.

Simen Lieungh, Chair of Odfjell Drilling Ltd commented:
“On behalf of the Board, I would like welcome Knut to Odfjell Drilling. His significant financial and board experience will be of great value during a fast-paced and dynamic period for our sector and our Company.”

For further queries, please contact:
James Crothers, Investor Relations Officer
+44 (0) 7393 766 446
jchu@odfjelldrilling.com
London, United Kingdom
03 April 2023
Odfjell Drilling Ltd

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Kilde

TekBot · april 28, 2023, 5:02am

Odfjell Drilling Ltd. – Details for Q1 2023 Webcast and Conference Call

In connection with the Company’s Q1 2023 earnings announcement on Friday 5th of May 2023, Odfjell Drilling Ltd will host a webcast and conference call on the same day at 14:00hrs CEST. Speakers on the call will include Chief Executive Officer Kjetil Gjersdal, Chief Financial Officer Frode Syslak and Investor Relations Officer James Crothers.

There will be a Q&A session subsequent to the presentation.
…

Vis børsmeldingen

Information on how to submit questions will be given at the beginning of the Q&A session.

Please join the event 5-10 minutes prior to scheduled start time. When prompted, provide the confirmation code.

Webcast details:
https://brrmedia.news/ODL_Q123

Conference call:

Dial in number(s)

USA Local: +1 786 697 3501
Norway Local Oslo: +47 2 156 3318
UK-Wide: +44 (0) 33 0551 0200
Password (if prompted) Quote Odfjell Drilling Q1 Results when prompted by the operator

Participants will be asked for name and company.

For further queries, please contact:
James Crothers, Investor Relations Officer
+44 (0) 7393 766 446
jchu@odfjelldrilling.com
London, United Kingdom
28 April 2023
Odfjell Drilling Ltd

Kilde

TekBot · mai 5, 2023, 5:01am

Odfjell Drilling Ltd. reports for the first quarter of 2023

Odfjell Drilling Ltd. is pleased to report its financial and operational results for the three months period ended 31st March 2023.

For the full results, please see the attached report and presentation.
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Highlights:
Fully deployed own fleet, achieving 97.9% financial utilisation with increasing external fleet activity
• The Deepsea Aberdeen, Deepsea Atlantic and Deepsea Stavanger remained on contract with Equinor during the period, drilling on Breidablikk, Johan Sverdrup Phase 2 and various exploration projects respectively
• The Deepsea Nordkapp was on contract with Aker BP, drilling on the Alvheim area development
• The Deepsea Bollsta was on contract throughout the period with Shell in Namibia
• The Deepsea Yantai was largely on contract with OMV in February and March, following a brief idle period in January
• The Deepsea Mira was quay side for much of the period, however was mobilised for operations with Total for its multi country contract in West Africa
• Renewed Semi Alliance agreement for further 5 years, ensuring a close relationship with members of the Alliance, Aker BP ASA and Haliburton AS

Expanded backlog to $2.3bn, following contract wins at strong rates; solidifying forward cash generation
• Signed two Letters of Intent for the Deepsea Atlantic, for operations in the North Sea at strong dayrates
o Combined, the two LOI’s cover a period of 23 months for a total contract value of $290m, excluding integrated services, upgrades / modifications or mobilisation fees
o The two LOI’s include provisions for performance bonuses and fuel incentives not included in the total contract value
o In addition to the firm period, there are four higher priced one well options and three additional optional periods of approximately one-year each with the rates for each period to be mutually agreed prior to exercising
• Added further activity for the Deepsea Yantai with PGNiG Upstream Norway AS; extending the firm backlog for the Deepsea Yantai to Q3 2024
• Added firm scope with Equinor for use of the Deepsea Aberdeen on the Svalin field as well as more firm wells for the Deepsea Stavanger under its existing option agreement

Continued financial discipline and cost control
• Strong revenue generation during the period of $171m as a result of increased activity of our external fleet and continued high utilisation
• Leverage ratio and equity ratio of 2.4x and 55% respectively, reflecting the Company’s continued focus on capital discipline
• Material progress on the Company’s planned refinancing
• Strong cash position of $138m, despite payment of $31m to Odfjell Technology in regards to the previously announced tax ruling from the Norwegian Tax Authority

New appointments to the board and executive management team
• Appointed Knut Hatleskog as a Non-Executive Director of the Company, expanding the Company’s board to four
• Appointed Jakob Korsgaard as Chief Operating Officer of Odfjell Drilling AS

Chief Executive Officer Kjetil Gjersdal, Chief Financial Officer Frode Syslak and Investor Relations Officer James Crothers will be hosting a webcast and Q&A session at 2pm CEST to discuss the results.

Stakeholders can either use the following link for the webcast or listen via telephone using the details below.

Webcast details:
https://brrmedia.news/ODL_Q123
Conference call:
Dial in number(s)
USA Local: +1 786 697 3501
Norway Local Oslo: +47 2 156 3318
UK-Wide: +44 (0) 33 0551 0200
Password (if prompted) Quote Odfjell Drilling Q1 Results when prompted by the
operator

For further queries, please contact:
James Crothers, Investor Relations Officer
+44 (0) 7393 766 446
jchu@odfjelldrilling.com
London, United Kingdom
5 May 2023
Odfjell Drilling Ltd

Kilde

TekBot · mai 5, 2023, 9:40am

ODL - New Contract for Hercules, Offshore Namibia

Odfjell Drilling Ltd (“Odfjell Drilling” or the “Company”) is pleased to note the announcement made by SFL Corporation Ltd (“SFL”), which states that the Company, on behalf of SFL, has agreed with a subsidiary of GalpEnergia a drilling contract for two wells in Namibia, using the Hercules rig. The contract is expected to commence in Q4 2023 and has an estimated firm duration of 115 days including mobilisation to Namibia. This contract will follow the work agreed with Exxon in Canada as per the announcement on 18 November 2022.

Kjetil Gjersdal, Chief Executive Officer of Odfjell Drilling AS commented:
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“Since taking on management and marketing for the Hercules, we have worked tirelessly on facilitating the vessel being ready for operations in Canada while also working to secure work after this. Agreeing this contract with Galp Energia, the third contract for work in Namibia we have agreed within the last year, is very exciting for our Company and we look forward to working with SFL and Galp Energia to meet expectations safely and efficiently.”

For further queries, please contact:
James Crothers, Investor Relations Officer
+44 (0) 7393 766 446
jchu@odfjelldrilling.com
London, United Kingdom
5 May 2023
Odfjell Drilling Ltd

Kilde

TekBot · mai 8, 2023, 6:02am

ODL: Fixed income investor meetings and update on bank refinancing

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, HONG KONG, JAPAN OR THE UNITED STATES, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Odfjell Drilling: Fixed income investor meetings and update on bank refinancing
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Odfjell Drilling Ltd. (“Odfjell Drilling” or the “Company”, OSE: ODL) has mandated DNB Markets as Global Coordinator, and Danske Bank, SpareBank 1 Markets, ABG Sundal Collier and Fearnley Securities as Joint Lead Managers, to arrange a series of fixed income investor calls commencing 9 May 2023.

A 5-year senior secured first lien bond issue (rated by S&P and Moody’s) of USD 390 million and secured by the rigs Deepsea Atlantic and Deepsea Aberdeen may follow, subject to inter alia market conditions. Net proceeds from the bond issue will be used to refinance existing debt and for general corporate purposes.

The Company has received bank commitments for amendment and extension of the USD 197 million term loan for Deepsea Nordkapp (maturity in 2029). Further, the Company has agreed terms for a USD 160 million revolving credit facility (RCF) and a USD 125 million term loan for Deepsea Stavanger (both maturing in 2028). The RCF is fully committed, whereas half the term loan is credit approved and the remaining half is investment committee approved subject to completion of formal credit process. All commitments are subject to final documentation, as customary. Together with proceeds from the contemplated bond issue, the bank facilities will refinance all of the Company’s outstanding debt. Closing is targeted in Q2 2023.

For further queries, please contact:
James Crothers
Investor Relations Officer
+44 (0) 7393 766 446
jchu@odfjelldrilling.com
London, United Kingdom
8 May 2023 Odfjell Drilling Ltd

Important Notice: These materials do not constitute or form a part of any offer of securities for sale or a solicitation of an offer to purchase securities of Odfjell Drilling Ltd. in the United States or any other jurisdiction. The securities of the Company may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”). The securities of the Company have not been, and will not be, registered under the U.S. Securities Act. Any sale in the United States of the securities mentioned in this communication will be made solely to “qualified institutional buyers” as defined in Rule 144A under the U.S. Securities Act and “major U.S. institutional investors” as defined in SEC Rule 15a-6 to the United States Exchange Act of 1934. No public offering of the securities will be made in the United States.
In any EEA Member State, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the EU Prospectus Regulation or other investors pursuant to applicable exemptions from preparing a prospectus pursuant to the EU Prospectus Regulation. The expression “EU Prospectus Regulation” means Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (together with any applicable implementing measures in any Member State).
In the United Kingdom, this communication is only addressed to and is only directed at Qualified Investors who (i) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the “Order”) or (ii) are persons falling within Article 49(2)(a) to (d) of the Order (high net worth companies, unincorporated associations, etc.) (all such persons together being referred to as “Relevant Persons”). These materials are directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this announcement relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Persons distributing this communication must satisfy themselves that it is lawful to do so.
The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions. Specifically, neither this announcement nor the information contained herein is for publication, distribution, or release, in whole or in part, directly or indirectly, in or into or from the United States (including its territories and possessions, any State of the United States and the District of Columbia), Australia, Canada, Hong Kong, Japan or any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction.

Kilde

TekBot · mai 12, 2023, 6:05pm

ODL: Successful placement of new 5-year senior secured first lien bonds

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, HONG KONG, JAPAN OR THE UNITED STATES, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Odfjell Drilling Ltd. (“Odfjell Drilling” or the “Company”, OSE: ODL) has today successfully placed new USD 390 million senior secured first lien bonds with a tenor of 5 years (the “Bonds”). The Bonds will carry a fixed annual coupon of 9.25%, payable semi-annually. The proceeds from the Bonds will be used to refinance existing debt and for general corporate purposes. An application will be made for the Bonds to be listed on the Oslo Stock Exchange within six months.
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DNB Markets acted as Global Coordinator, while Danske Bank, SpareBank 1 Markets, ABG Sundal Collier and Fearnley Securities acted as Joint Lead Managers for the bond issue.

For further queries, please contact:
James Crothers
Investor Relations Officer
+44 (0) 7393 766 446
jchu@odfjelldrilling.com
London, United Kingdom
12 May 2023 Odfjell Drilling Ltd

Important Notice: These materials do not constitute or form a part of any offer of securities for sale or a solicitation of an offer to purchase securities of Odfjell Drilling Ltd. in the United States or any other jurisdiction. The securities of the Company may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”). The securities of the Company have not been, and will not be, registered under the U.S. Securities Act. Any sale in the United States of the securities mentioned in this communication will be made solely to “qualified institutional buyers” as defined in Rule 144A under the U.S. Securities Act and “major U.S. institutional investors” as defined in SEC Rule 15a-6 to the United States Exchange Act of 1934. No public offering of the securities will be made in the United States.

In any EEA Member State, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the EU Prospectus Regulation or other investors pursuant to applicable exemptions from preparing a prospectus pursuant to the EU Prospectus Regulation. The expression “EU Prospectus Regulation” means Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (together with any applicable implementing measures in any Member State).

In the United Kingdom, this communication is only addressed to and is only directed at Qualified Investors who (i) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the “Order”) or (ii) are persons falling within Article 49(2)(a) to (d) of the Order (high net worth companies, unincorporated associations, etc.) (all such persons together being referred to as “Relevant Persons”). These materials are directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this announcement relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Persons distributing this communication must satisfy themselves that it is lawful to do so. The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions. Specifically, neither this announcement nor the information contained herein is for publication, distribution, or release, in whole or in part, directly or indirectly, in or into or from the United States (including its territories and possessions, any State of the United States and the District of Columbia), Australia, Canada, Hong Kong, Japan or any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction.

Kilde

TekBot · mai 22, 2023, 3:15pm

ODL - Transactions by Primary Insiders

TekBot · mai 25, 2023, 9:46am

ODL – Notice of Annual General Meeting

TekBot · mai 25, 2023, 11:45am

ODL - Extension of Deepsea Bollsta contract

TekBot · mai 31, 2023, 5:01am

New Contract Win for Deepsea Yantai

TekBot · juni 20, 2023, 9:46am

ODL - Minutes from Annual General Meeting 20 June 2023

TekBot · juli 17, 2023, 5:00am

Signing of two rig contracts and Strategic Collaboration Agreement

Odfjell Drilling Ltd. is pleased to announce that further to the announcement on 31 March 2023, the contracts provided for in the two Letters of Intent for the Deepsea Atlantic to conduct operations in the North Sea region have now been signed with Equinor.

As previously announced, the contracts have a combined firm duration of 23 months and a value of approximately USD 290 million excluding integrated services, upgrades / modifications or mobilisation fees. The contracts also include provisions for performance bonuses and fuel incentives.
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In addition to the firm contract periods, there are four priced one well options as well as three further optional periods of approximately one-year each, with the rates for each period to be mutually agreed prior to exercising.

The work will begin immediately following completion of the Special Periodic Survey for the Deepsea Atlantic, which is currently planned during the first half of 2024.

The Deepsea Atlantic is now signed up to firm contracts until mid-2026, with options which extend to 2029.

Together with the two contracts, Odfjell Drilling and Equinor have also entered into a Strategic Collaboration Agreement to focus on matters of mutual strategic importance. With a focus on safety, drilling efficiency and lower emissions this agreement shall provide the framework for a joint effort and longer-term collaboration on these key matters.

Kjetil Gjersdal, Chief Executive Officer of Odfjell Drilling AS commented:
“We are pleased to confirm that the Deepsea Atlantic will continue to work with Equinor under the new contract which could see the rig in continuous operation until 2029, delivering strong, predictable cash generation from the unit.

“Having worked with Equinor on many project developments through the years, we are pleased to have signed a Strategic Collaboration Agreement to further develop our combined capabilities to deliver safe and efficient operations. Continuous development of our workflows and technologies is a key focus for Odfjell Drilling and we look forward to seeing the results of this initiative.”

Ends

For further queries, please contact:
James Crothers, Investor Relations Officer
+44 (0) 7393 766 446
jchu@odfjelldrilling.com
London, United Kingdom
17 July 2023
Odfjell Drilling Ltd

Kilde