Sbm Offshore Stock Price, News & Analysis

SBM Offshore and ExxonMobil Guyana have completed the sale transaction of FPSO Liza Destiny for approximately US$535 million. The deal was finalized ahead of the maximum lease term, which would have expired in December 2029. Under the agreement, ExxonMobil Guyana assumes ownership while SBM Offshore will continue to operate and maintain the FPSO until 2033.

The net cash proceeds will be primarily used to repay the US$405 million project financing, reducing SBM Offshore's net debt position. The FPSO has been operational since December 2019, and since 2023 has been operated through an integrated operations and maintenance model combining both companies' expertise.

SBM Offshore (SBFFF) has provided an update on its EUR130 million (c. US$140 million) share repurchase program for December 12-18, 2024. The program, initially announced at EUR65 million on February 29, 2024, and increased by another EUR65 million on August 8, 2024, aims to reduce share capital and provide shares for employee programs.

As of December 18, 2024, the company has completed 68.72% of the program, repurchasing 5,739,532 shares at an average price of EUR15.57, totaling EUR89,338,289. In the last five trading days, 238,258 shares were repurchased at an average price of EUR16.69, amounting to EUR3,976,688.

SBM Offshore (SBFFF) has provided an update on its EUR130 million (c. US$140 million) share repurchase program. From December 5-11, 2024, the company repurchased 194,012 shares at an average price of EUR16.92, totaling EUR3,283,433. The program, initially announced on February 29, 2024, for EUR65 million and increased by another EUR65 million on August 8, 2024, aims to reduce share capital and provide shares for employee programs.

As of December 11, 2024, the company has completed 65.66% of the program, having repurchased 5,501,274 shares at an average price of EUR15.52, for a cumulative amount of EUR85,361,601.

SBM Offshore has announced the publication of its Extraordinary General Meeting (EGM) agenda and shareholder invitation. The EGM will be held at the Sheraton Amsterdam Airport Hotel on January 17, 2025 at 3:30 PM CET.

The company, which specializes in deepwater ocean-infrastructure, employs over 7,400 people globally and focuses on delivering cleaner energy production solutions while expanding into new blue economy markets. Their work involves the design, construction, installation, and operation of offshore floating facilities.

SBM Offshore has reported details of its EUR130 million (US$140 million) share repurchase program for November 28-December 4, 2024. The program, initially announced at EUR65 million and later doubled, aims to reduce share capital and provide shares for employee programs.

As of December 4, 2024, the company has completed 63.14% of the program, repurchasing 5,307,262 shares at an average price of EUR15.47, totaling EUR82,078,168. In the last five trading days, 180,131 shares were repurchased at an average price of EUR17.02, amounting to EUR3,065,445.

SBM Offshore reports progress on its EUR130 million share repurchase program from November 21-27, 2024. The program, initially announced at EUR65 million and later doubled, aims to reduce share capital and provide shares for employee programs. As of November 27, 60.78% of the program is complete, with 5,127,131 shares repurchased at an average price of EUR15.41. The latest week saw 154,535 shares purchased at an average price of EUR17.44, totaling EUR2,695,030.

SBM Offshore has successfully completed a US$1.5 billion project financing for FPSO Jaguar, secured by 16 international financial institutions. The FPSO Jaguar, based on SBM's Fast4Ward® program, will have a production capacity of 250,000 barrels of oil per day, gas treatment capacity of 540 million cubic feet per day, and water injection capacity of 300,000 barrels per day. The vessel will operate in the Whiptail development within the Stabroek block offshore Guyana, with storage capacity of 2 million barrels of crude oil. This marks the company's first project under the sale and operate model.

SBM Offshore has reported details of its EUR130 million (c. US$140 million) share repurchase program for November 14-20, 2024. The program, initially announced at EUR65 million and later doubled, aims to reduce share capital and provide shares for employee programs. As of November 20, 2024, the company has completed 58.71% of the program, repurchasing 4,972,596 shares at an average price of EUR15.35, totaling EUR76,317,693. In the last five trading days, 123,956 shares were repurchased at an average price of EUR17.69, amounting to EUR2,193,205.

SBM Offshore has announced the nomination of two new Supervisory Board members: Lucia de Andrade, currently Senior VP Deepwater Project at Shell, and Denise Dettingmeijer, CFO at Medical Solutions. The appointments will be confirmed at an upcoming Extraordinary General Meeting. Hilary Mercer will step down from the Supervisory Board on January 1, 2025, due to commitments in her role as Executive VP Projects & Engineering at Shell. The nominations aim to bring valuable experience in deepwater development and financial expertise to the board.