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


Product Guide

News Letter

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



Powered by MARIS.

Subscribe to Offshore Shipping News Online RSS

Follow Offshore Shipping News Online on Twitter

Subscribe to email updates




Myanmar Offshore Congress 2014
25-26 September 2014
Myanmar, Yangon.

Offshore Marine Crewing
01-02 October 2014
Norway, Oslo.

FPSO Training Course Amsterdam
06-08 October 2014
Netherlands, Amsterdam.

Kuwait Oil and Gas Show and Confernce
12-15 October 2014
Kuwait, Kuwait.

Myanmar- Oil and Gas 2014
15-17 October 2014
Myanmar, Yangon.

More events