Reach Subsea (REACH)

[TekBot]

Reach Subsea – Approved prospectus for listing of shares

Reach Subsea – Approved prospectus for listing of shares

Haugesund, 3 June 2022: Reference is made to previous announcements made by Reach Subsea ASA (“Reach” or the “Company”) on 23 March 2022 and on 25 March 2022 regarding the issuance of a total of 79,972,720 new shares in the Company (the “New Shares”).
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The New Shares consists of (i) 33,846,153 new consideration shares issued to iSURVEY Holding AS in connection with the acquisition of ISURVEY Group AS, and (ii) 46,126,567 new ordinary shares issued in a private placement directed towards Wilhelmsen New Energy AS.

The Financial Supervisory Authority of Norway (Norwegian: Finanstilsynet) has today approved a prospectus (the “Prospectus”) relating to the listing of the New Shares on Oslo Børs. The prospectus will be available in electronic format at the Company’s web site at: Financial reports - Reach Subsea.

The New Shares, which currently are registered in book-entry form with Euronext Securities Oslo under a separate ISIN (being ISIN NO0012478421), are expected to be transferred to the ordinary ISIN of the Company’s shares (being ISIN NO0003117202) on or about 8 June 2022 and become tradeable on the Oslo Stock Exchange under the Company’s trading symbol “REACH”.

Advokatfirmaet Schjødt AS acts as legal advisor to the Company and Fearnley Securities AS acted as financial advisor to the Company in connection with the transactions.

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

For more information, please contact:

Jostein Alendal, CEO
Birgitte Wendelbo Johansen, CFO/IR

About Reach Subsea:
Reach Subsea ASA Group offers subsea services as a subcontractor and/or directly to end clients, based out of our head office in Haugesund. The core business of the Group is based on modern, high spec Work ROVs operated by highly-qualified offshore personnel, and supported by onshore engineering resources. The Group’s objective is to be a preferred subsea partner and full-service provider of subsea operations for clients, focusing on safety, environment, financial solidity and profitability.

Kilde

[nordpolen]

Inne her, @Christian ? Attraktivt priset nå?

[Christian]

Jeg har ikke rørt denne posisjonen på noen måneder. Denne får bare dure å gå.

Planen var egentlig å selge på meldingen om at finansiering var i orden, noe som hadde vært smart (kurs på 4,4), men jeg syntes resten av meldingen så såpass bra ut at jeg bare holdt. Er vanskelig å trade noe du tror skal bli verdt 50-100% mer i løpet av et par år

Det er forresten fasinerende å se hvordan bransjen vegrer seg for nye investeringer. Det er jo halvparten av grunnen til at inflasjonen er så høy nå. Mangel på investeringer i raffineringskapasitet og utvinning. Hvorfor? Jeg tenker det henger sammen med sterke politiske signaler om at olje/gass ikke skal brukes om 10-20-30 år.

[TekBot]

Reach Subsea ASA: Subsea vessel Deep Cygnus secured for 4+1 years

Reach Subsea ASA: Subsea vessel Deep Cygnus secured for 4+1 years

Haugesund, 14 July, 2022: Reach Subsea, the trusted data and subsea service provider for ocean-based industries, has entered into an agreement with Volstad Maritime for use of the subsea vessel Deep Cygnus for 4 years, with an option to extend for 1 year.
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“We have entered a phase of strong market development for subsea services, and with Deep Cygnus we are securing capacity for the coming years, during the transition to more unmanned operations with our Reach Remote concept. Deep Cygnus is a vessel that fits nicely into our focus markets. The vessel has a solid track record within the renewables segment, which we intend to use as a door opener for selling subsea services to the same clients. Volstad Maritime is a new supplier to us, but we have been very pleased with what we have seen so far on the vessel and within the organization,” said Jostein Alendal, CEO of Reach Subsea.

“We are very excited to start working with Reach Subsea on the Deep Cygnus next year. The vessel has proven to be a great platform for both renewables and subsea work and we are looking forward to investing further in the vessel to continue delivering the highest quality service with a strong focus on reliability, safety and low emissions,” said Eirik Syversen, Commercial Director of Volstad Maritime.

The commercial terms of the charter agreement are confidential between the parties but are structured in a way that enables Reach to offer a high-quality subsea service to our clients.

The vessel will be installed with launch and recovery systems (LARS) and ROVs prior to delivery to Reach Subsea. Reduced carbon footprint is a high priority for Reach Subsea, and battery installation on the vessel is scheduled during the winter of 2023/2024.

The deal with Volstad Maritime is an important step in the long-term fleet planning strategy, where our focus is to have a good mix of manned and unmanned vessel that will serve our customers efficiently.

Reach will mobilise the vessel during February/March 2023 and use the vessel on own projects within IMR (inspection maintenance and repair) and light construction within the oil & gas and renewables sectors. This subsea spread is well suited for our core focus markets and has a good fit with the tenders we currently have outstanding.

For more information please contact:
Birgitte Wendelbo Johansen
Chief Financial Officer
Reach Subsea ASA
bwj@reachsubsea.no

About Reach Subsea:
Reach Subsea ASA Group offers subsea services as a subcontractor and/or directly to end clients, based out of our head office in Haugesund. The core business of the Group is based on modern, high spec Work ROVs operated by highly-qualified offshore personnel, and supported by onshore engineering resources. The Group’s objective is to be a preferred subsea partner and full-service provider of subsea operations for clients, focusing on safety, environment, financial solidity and profitability. www.reachsubsea.no

Kilde

[TekBot]

Reach Subsea: OCTIO awarded a multi-year 4D geophysical monitoring frame contract offshore Australia

Reach Subsea: OCTIO awarded a multi-year 4D geophysical monitoring frame contract offshore Australia

Haugesund, 04 August 2022: OCTIO, a subsidiary of Reach Subsea ASA (“Reach”), has secured a multi-year geophysical monitoring frame contract with an operator offshore Australia.
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OCTIO will deploy the proprietary gWatch service to deliver gravimetry and seabed subsidence measurements.

“This is an international breakthrough for OCTIO and we welcome this opportunity to work with a new client. We look forward to deploying our cost-efficient gWatch service and supporting the client to maximize gas production sustainably. The Australian monitoring contract is another strong credential for the attractivity of the OCTIO offering, and we are experiencing significant interest also from other operators worldwide” said Leon Løvheim, CEO of OCTIO.

OCTIO will provide technical support for the survey and monitoring planning for the gas fields over the next 18 to 24 months and will conduct the baseline survey in late 2024. The frame contract is valid until 2025, with two three-year extensions up to 2031.

“Reach Subsea acquired OCTIO in December 2021, and together with the acquisition of iSURVEY in early 2022, it provides Reach Subsea with a complete offering for offshore monitoring and surveying. With OCTIO’s and iSURVEY’s competent teams and unique technologies, we can serve offshore customers with cost efficient and accurate seabed monitoring data with short lead times,” said Jostein Alendal CEO of Reach Subsea, and continued:
“The market is strong, and it is great to offer complete and attractive solutions through the whole value chain of offshore services for our customers within the renewable energy sector as well as traditional oil and gas. Next year we will strengthen our offering further with the launch of the extremely cost and climate friendly unmanned Reach Remote offshore vessel system. The OCTIO technology is perfectly suited for efficient deployment with Reach Remote.”

OCTIO in short:
• Subsidiary of Reach Subsea ASA, after the acquisition from Equinor Venture in December 2021
• Provides flexible and smart geophysical monitoring solutions for hydrocarbon producing fields offshore. Our monitoring methods are tailored to optimally fit every specific project, are cost-effective and don’t require large upfront investments.
• OCTIO’s services are complete, covering all the phases required to convert geophysical data into value for our clients. OCTIO performs the geophysical studies that lead to overall monitoring strategies; plans and executes operations and provides support to integrate data in interpretation workflows
• OCTIO’s main technology propositions are:
o Real-time seismic monitoring, with the unique capability to deploy seismic cables on the seabed and
process and interpret their data in real-time
o Gravitude, survey-based 4D gravity and seafloor subsidence monitoring, the most widely spread technology for mapping drainage and fluid substitution in hydrocarbon reservoirs is 4D seismic, which involves high costs and environmental impact. Gravitude’s technology is an alternative to seismic at 10% of the cost and with no impact on marine life.

For further information, please contact:
Jostein Alendal, CEO of Reach Subsea ASA, jal@reachsubsea.no
Birgitte Wendelbo Johansen, CFO of Reach Subsea ASA, bwj@reachsubsea.no

About Reach Subsea:
The Reach Subsea ASA Group’s business concept is to offer subsea services as a subcontractor and/or directly to end clients based out of our head office in Haugesund. The core business of the Group is based on modern, high-spec Work ROVs and high speed Survey ROVs operated by highly-qualified offshore personnel and supported by onshore engineering resources. The Group’s objective is to be a preferred subsea partner and full-service provider of subsea operations for clients, among others, by focusing on safety, environment, financial solidity and profitability.
www.reachsubsea.no

Kilde

[Christian]

@TekBot

OCTIO will provide technical support for the survey and monitoring planning for the gas fields over the next 18 to 24 months and will conduct the baseline survey in late 2024. The frame contract is valid until 2025, with two three-year extensions up to 2031.

Nice! Ikke verst å få en kontrakt som kan vare fra nå og fram til 2031. Energi, om det kommer fra olje, gass eller vindkraft er noe verden trenger, og Reach Subsea er veldig godt posisjonerte for det.

[TekBot]

Invitation to presentation of the second quarter and first half results 2022

Invitation to presentation of the second quarter and first half results 2022

Haugesund, 19 August 2022 – Reach Subsea ASA will publish its financial results for the second quarter and first half of 2022 on Tuesday 23 August 2022 at 07:00 CEST. The company’s CEO Jostein Alendal and CFO Birgitte Wendelbo Johansen will host a webcast presentation of the results in English on the same day at 9:30 CET.
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Date: 23 August 2022
Time: 09:30 CEST
Link: https://channel.royalcast.com/webcast/hegnarmedia/20220823_3

The report and presentation will be made available at https://reachsubsea.no and www.newsweb.no.

A recorded version of the presentation will be available after the live stream is concluded. Participants will have the opportunity to submit questions online throughout the webcast session.

For more information please contact:
Birgitte Wendelbo Johansen
Chief Financial Officer
Reach Subsea ASA
bwj@reachsubsea.no

About Reach Subsea:
Reach Subsea ASA Group offers subsea services as a subcontractor and/or directly to end clients, based out of our head office in Haugesund. The core business of the Group is based on modern, high spec Work ROVs operated by highly-qualified offshore personnel, and supported by onshore engineering resources. The Group’s objective is to be a preferred subsea partner and full-service provider of subsea operations for clients, focusing on safety, environment, financial solidity and profitability.

www.reachsubsea.no

Kilde

[VBR]

@Tekbot har forsovet seg i dag.

https://newsweb.oslobors.no/message/569344

[torsteinius]

Mer enn doblet inntektene

[Christian]

Utenom tallene:

• On track for the delivery of first Reach Remote USVs in 2023. Long lead items such as the USVs and eROVs secured by signing contracts with Kongsberg and Kystdesign, respectively
• Improved market conditions going forward across all sectors fueled by higher commodity prices, increased focus on energy security, and structural growth in renewables

[TekBot]

Reach Subsea ASA - Mandatory notification of trade - primary insider

Reach Subsea ASA - Mandatory notification of trade - primary insider

Market: XOSL - Oslo Børs
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Issuer: Reach Subsea ASA, LEI number: 5967007LIEEXZXK7FS45

Instrument: REACH, ISIN NO0003117202

Anders Onarheim, member of the Board of Directors of Reach Subsea ASA, has on 23 August 2022, purchased 250,000 shares in Reach Subsea ASA at NOK 3.80 per share through his closely affiliated, fully owned, company AB Investment AS. In total, the transaction amounted to NOK 950,000.

The total number of shares beneficially owned by Onarheim after the transaction is 750,000, of which all shares are owned by AB Investment AS.

This information is subject to the disclosure requirements in Regulation EU 596/2014 (Market Abuse Regulation) article 19 number 3 and the Norwegian Securities Trading Act § 5-12.

For further information, please contact:
Birgitte Wendelbo Johansen
Chief Financial Officer
Reach Subsea ASA
bwj@reachsubsea.no

Kilde

[Christian]

@TekBot

Anders Onarheim, member of the Board of Directors of Reach Subsea ASA, has on 23 August 2022, purchased 250,000 shares in Reach Subsea ASA at NOK 3.80 per share through his closely affiliated, fully owned, company AB Investment AS. In total, the transaction amounted to NOK 950,000.

The total number of shares beneficially owned by Onarheim after the transaction is 750,000, of which all shares are owned by AB Investment AS.

Økte antall aksjer med 50%. Et solid innsidekjøp.

[TekBot]

Reach Subsea ASA – Significant contract awards, including strategic engagement in Brazil

Reach Subsea ASA – Significant contract awards, including strategic engagement in Brazil

Haugesund, 7 September 2022: Reach Subsea ASA, the trusted data and subsea service provider for ocean-based industries, has recently signed contracts amounting totally in excess of NOK 200 million, including an important strategic contract in the Brazilian market, which was signed today. The contract is the first result of a strategic partnership with a Brazilian offshore company.
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“The contract in Brazil is very important for us, not only because of its large size, but also since expansion in Brazil has been high up on our agenda for a long time, and now we are taking the first step. The market is large, and we have a great product offering following the acquisitions of iSURVEY and OCTIO, which will be further strengthened when we launch our first autonomous, unmanned offshore vessels, Reach Remote, next year. Together with our new Brazilian strategic partner, we have now opened up a market with significant growth potential for us,” said CEO of Reach Subsea, Jostein Alendal.

The assignment in Brazil is for the main season 2023 and involves one offshore vessel with two work class ROVs (WROVs) and personnel.

“This week’s contract signings are another set of confirmations of Reach Subsea’s good position in an accelerating market for subsea services. We have strong technology, a good reputation, and with our broadened service offering, we can leverage the strong market in a tremendous way,” said Jostein Alendal.

Contact information:
Birgitte Wendelbo Johansen
Chief Financial Officer
Reach Subsea ASA
bwj@reachsubsea.no

About Reach Subsea:
Reach Subsea ASA Group offers subsea services as a subcontractor and/or directly to end clients, based out of our head office in Haugesund. The core business of the Group is based on modern, high spec Work ROVs operated by highly-qualified offshore personnel, and supported by onshore engineering resources. The Group’s objective is to be a preferred subsea partner and full-service provider of subsea operations for clients, focusing on safety, environment, financial solidity and profitability.

www.reachsubsea.no

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements according to section 5-12 of the Norwegian Securities Trading Act. The information was submitted for publication by Birgitte Wendelbo Johansen, on behalf of the Company at the date and time set out above.

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Kilde

[TekBot]

Reach Subsea ASA – Presentation material, Pareto Securities’ Energy Conference

Haugesund, 14 September 2022: Reach Subsea, the trusted data and subsea service provider for ocean-based industries, presents at the Pareto Securities’ Energy Conference in Oslo today. CEO Jostein Alendal holds the presentation.

The presentation material follows enclosed to this release.
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Contact information:
Birgitte Wendelbo Johansen
Chief Financial Officer
Reach Subsea ASA
bwj@reachsubsea.no

About Reach Subsea:
Reach Subsea ASA Group offers subsea services as a subcontractor and/or directly to end clients, based out of our head office in Haugesund. The core business of the Group is based on modern, high spec Work ROVs operated by highly-qualified offshore personnel, and supported by onshore engineering resources. The Group’s objective is to be a preferred subsea partner and full-service provider of subsea operations for clients, focusing on safety, environment, financial solidity and profitability.

www.reachsubsea.no

Kilde

[Saksa]

Norway inspects subsea gas pipeline after Nord Stream blasts

[Christian]

The Havila Subsea, an oil service vessel equipped with remotely operated subsea vehicles, was deployed on Oct. 5 to survey the Europipe II pipeline that runs from the Kaarstoe gas plant in Norway to Dornum in Germany, Refinitiv vessel-tracking data shows.

Jostein Alendal, chief executive of Reach Subsea (REACH.OL), which operates Havila Subsea, told Reuters the inspection was ordered by Equinor (EQNR.OL), which carries out pipeline inspections on behalf of offshore gas system operator Gassco.

Tenkte Reach kanskje kom til å få noen jobber her ja

8800 km med gassledninger…

[Teiner]

Hva tror dere de bruker for inspeksjon? kjøre raskt over med towfish sidescan sonar eller inspeksjon med kamera/rov?

[Rodjer]

HAVILA SUBSEA Current position (Offshore Support Vessel, IMO 9505508) - VesselFinder

Ekspert: Kan ha gjort funn (dagbladet.no)

[TekBot]

Reach Subsea ASA - Contract awards

Haugesund, 14 October 2022: Reach Subsea ASA, the trusted data and subsea service provider for ocean-based industries, has today signed a larger contract, and has recently also been awarded several contract extensions. The contracts encompass projects in Trinidad and Tobago, and Northern Europe, and is an indication of good development in terms of utilisation of our resources for Q4 2022 and into Q1 2023.

“Reach Subsea is well positioned with a complete suite of services for a global subsea services market that continues to develop strongly. Now, we are looking forward to serving our customers in Trinidad and Tobago again for the first time after the pandemic. The contract is a result of great collaboration and teamwork,” said Jostein Alendal, CEO of Reach Subsea.
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Contact information:
Birgitte Wendelbo Johansen
Chief Financial Officer
Reach Subsea ASA
bwj@reachsubsea.no

About Reach Subsea:
Reach Subsea ASA Group offers subsea services as a subcontractor and/or directly to end clients, based out of our head office in Haugesund. The core business of the Group is based on modern, high spec Work ROVs operated by highly qualified offshore personnel, and supported by onshore engineering resources. The Group’s objective is to be a preferred subsea partner and full-service provider of subsea operations for clients, focusing on safety, environment, financial solidity and profitability.

www.reachsubsea.no

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements according to section 5-12 of the Norwegian Securities Trading Act. The information was submitted for publication by CFO Birgitte Wendelbo Johansen, on behalf of the Company at the date and time set out above.

Kilde

[Rodjer]

Ser bra ut for Reach dette etterhvert.