Welcome to our dedicated page for SBM OFFSHORE NV ADR news (Ticker: SBFFY), a resource for investors and traders seeking the latest updates and insights on SBM OFFSHORE NV ADR stock.
SBM Offshore NV ADR (SBFFY) is a global leader in providing floating production solutions to the offshore energy industry. The company specializes in designing, building, and operating offshore oil and gas production facilities, including FPSO vessels and Turret mooring systems. With a strong track record of successful projects worldwide, SBM Offshore continues to innovate and expand its portfolio to meet the evolving needs of the industry.
SBM Offshore's core business involves delivering integrated EPCI (Engineering, Procurement, Construction, and Installation) solutions for deepwater oil and gas developments. The company's expertise in project management, engineering, and technology ensures the successful execution of complex offshore projects. SBM Offshore is committed to sustainable operations, prioritizing safety, efficiency, and environmental responsibility in all its endeavors.
Recent achievements include the successful completion and delivery of key projects in various regions, strengthening SBM Offshore's position as a trusted partner in the offshore energy sector. The company's strong financial performance reflects its operational excellence and strategic focus on delivering value to customers and shareholders.
SBM Offshore announces the progress of its EUR 65 million (approximately USD 70 million) share repurchase program active from March 1, 2024. As of June 19, 2024, the company has repurchased shares worth EUR 27,345,496, representing 42.07% of the target. During the week of June 13-19, 2024, SBM Offshore repurchased 163,799 shares at an average price of EUR 13.74, costing EUR 2,250,673. Daily repurchase details included 34,060 shares on June 13 at EUR 14.01, 43,156 shares on June 14 at EUR 13.66, 29,167 shares on June 17 at EUR 13.55, 27,816 shares on June 18 at EUR 13.67, and 29,600 shares on June 19 at EUR 13.81. The program aims to reduce share capital, with more detailed information accessible via SBM Offshore's website.
SBM Offshore has reported details of its EUR65 million share repurchase program for the period from June 6, 2024, to June 12, 2024. The program, initiated on March 1, 2024, aims to reduce share capital. To date, EUR25.09 million has been repurchased, covering 1,774,752 shares at an average price of EUR14.14. In the past week, 103,298 shares were bought back for a total of EUR1.48 million at an average price of EUR14.38. The company has completed 38.61% of the program as of June 12, 2024. Further transaction details and progress updates are available on SBM Offshore's website.
SBM Offshore has completed the acquisition of shares in the lease and operating entities for FPSOs N’Goma, Saxi Batuque, and Mondo from Sonangol EP. This acquisition brings SBM Offshore’s ownership in the FPSOs Saxi Batuque and Mondo to 100% and in FPSO N’Goma to 80%. Additionally, SBM Offshore has sold all its shares in the parent company of the Paenal shipyard in Angola to a subsidiary of Sonangol EP. The net consideration for these transactions is approximately $40 million. SBM Offshore also signed an MOU with Angola Offshore Services (AOSL) regarding the potential purchase of 20% of SBM Offshore's shareholding in FPSO N’Goma, pending several conditions. This reorganization focuses SBM Offshore's business on core lease and operate activities in Angola while divesting non-core construction assets.
On June 6, 2024, SBM Offshore announced that, in partnership with Technip Energies and TotalEnergies EP Suriname B.V., it has reserved a Fast4Ward® hull for the Block 58 development project offshore Suriname. TotalEnergies holds a 50% interest, with APA holding the other 50%. The final investment decision is expected in Q4 2024, with production start-up planned for 2028. SBM Offshore specializes in designing, building, installing, and operating offshore floating facilities, focusing on reducing fossil fuel emissions and developing sustainable energy solutions.
SBM Offshore has provided an update on its EUR65 million share repurchase program for the period between May 30, 2024, and June 5, 2024.
The company repurchased 118,423 shares at an average price of EUR 14.06, totaling EUR 1,665,569. Since the program began on March 1, 2024, SBM Offshore has repurchased 1,671,454 shares at an average price of EUR 14.13, amounting to EUR 23,609,901. This represents 36.32% of the total program completion.
The objective of the repurchase program, announced on February 29, 2024, is to reduce share capital. Detailed information regarding the program's progress and individual transactions can be found on SBM Offshore's website.
SBM Offshore specializes in designing, building, installing, and operating offshore floating facilities for the energy industry, aiming for a responsible energy transition. Key upcoming dates include the Half Year 2024 Earnings on August 8, 2024, and the Third Quarter 2024 Trading Update on November 14, 2024.
SBM Offshore has provided details of their EUR 65 million (approx. USD 70 million) share repurchase program for the week of May 23-29, 2024. The program, started on March 1, 2024, aims to reduce share capital. As of May 29, 2024, 33.76% of the program has been completed with a cumulative repurchase amount of EUR 21,944,332 for 1,553,031 shares at an average price of EUR 14.13. During the last five trading days, a total of 143,549 shares were repurchased at an average price of EUR 13.85, totaling EUR 1,987,563. Detailed transaction information is available on the company's website.
SBM Offshore has reported details regarding its EUR 65 million (approx. USD 70 million) share repurchase program for the period of May 16 to May 22, 2024. The program, which commenced on March 1, 2024, aims to reduce share capital. As of May 22, 2024, EUR 19,956,769 has been repurchased, representing 30.70% of the total program.
In the last five trading days, a total of 157,894 shares were repurchased at an average price of EUR 13.94, amounting to EUR 2,201,095. The program details are available on the company's website under the Investor section. SBM Offshore specializes in designing, building, and operating offshore floating facilities and is committed to reducing emissions from fossil fuel production while developing alternative energy solutions.
On May 15, 2024, SBM Offshore disclosed the latest details of its EUR 65 million (approximately US$70 million) share repurchase program covering the period from May 9 to May 15, 2024. This program, initiated on March 1, 2024, aims to reduce share capital. As of May 15, 2024, SBM Offshore has repurchased shares worth EUR 17,755,674, representing 27.32% of the total program. During the last five trading days, the company repurchased a total of 192,150 shares at an average price of EUR 14.01, amounting to EUR 2,691,105. All transactions were executed on Euronext Amsterdam, CBOE DXE, and Turquoise exchanges. Detailed transaction data can be accessed on the company's investor relations website.
SBM Offshore reported transaction details related to its EUR65 million (c. US$70 million) share repurchase program for the period May 2, 2024 through May 8, 2024. The objective is to reduce share capital. Details include total repurchase amount, cumulative repurchase amount, cumulative quantity repurchased, average repurchase price, and program completion percentage. Individual transaction details for the last 5 trading days are provided.
SBM Offshore reported year-to-date Directional revenue of US$871 million, maintaining full-year guidance. A cash dividend of US$150 million was approved, along with a share repurchase program of EUR65 million. Significant contract awards and partnerships were highlighted, including the FPSO Jaguar project and the MoU with Technip Energies to create a Floating Offshore Wind JV. Financially, Directional revenue increased by 17% to US$871 million, with net debt increasing to US$6,842 million. Operational updates on various FPSO projects were provided, emphasizing safety, sustainability, and the company's cash return initiatives. Guidance for 2024 revenue and EBITDA was maintained, with a conference call scheduled for further discussion.
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