Northern Offshore Group announces results

Company News - June 16, 2000

| More
EBITDA for the Northern Offshore Group amounted to NOK 127.5 million for the first quarter of 2000, up from NOK 50.9 million for the first quarter of 1999.

The profit improvement of NOK 76.6 million is mainly attributable to the settlement of the company's remaining claim against Coplex Resources of NOK 49.3 million.

In addition, higher production from Northern Producer this year increased its income to NOK 20 million. The remainder is due to reduced lay-up costs for the drilling units and the stronger Dollar.

Profit for the first quarter of 2000 was NOK 163 million, with NOK 125.2 million of this from profit on the repurchase of the company's own notes. Profit for the first quarter of 1999 was NOK 42.8 million, of which NOK 99 million comprised profit on similar repurchases.

More articles from this category

More news

Categories

Product Guide

News Letter

Fill in your name, company and e-mail address below for our bi-weekly newsletter.

Subscribe
Unsubscribe

Clarksons

Powered by MARIS.

Subscribe to Offshore Shipping News Online RSS

Follow Offshore Shipping News Online on Twitter

Subscribe to email updates

Sponsors

sponsorsponsorsponsor

Events

9th Deepwater China Convention 2014
24-25 April 2014
China, Shenzhen.

FPSO Topsides Design and Layout
29-30 April 2014
United kingdom, London.

Subsea Vessels Conference
29-30 April 2014
Norway, Oslo.

OSV Chartering Contract Management Middle East
29-30 April 2014
United arab emirates, Dubai.

Subsea Power Cables
30 April-01 May 2014
United kingdom, London.

More events