Prosafe signs letter of intent for Axis business units
Prosafe SE said it has entered into a letter of intent (LOI) with Axis Offshore for the potential acquisition of all outstanding shares in two single purpose companies.
Prosafe
Prosafe revenues down 16% as vessel utilisation sinks
A drop in demand for Prosafe vessels reduced third quarter revenues at the offshore accommodation provider by 15.5% to $130million.
Prosafe’s utilization barely breaks 50%
Prosafe’s fleet utilisation rate barely broke 50%.
Lenders approve Prosafe refinancing plans
Offshore accommodation provider Prosafe looks to have secured its future through to the end of 2020 after its refinancing plans were approved.
Prosafe implements “substantial headcount reduction” ahead of 2017’s expected “low point”
Prosafe confirmed it would substantially reduce its workforce as it targets $40million in annual cost savings.
Prosafe completes massive shares placement as part of refinancing strategy
Prosafe today confirmed it had completed a massive private placement of new shares as part of its latest financial shake-up. The subscription is part of the company’s refinancing strategy.
Prosafe reveals new refinancing plan
Prosafe has revealed its new refinancing plan as it battle outstanding debt.
Prosafe talks to lenders as it looks to improve finances
Prosafe remains in constructive dialogue with its key stakeholders as it attempts to improve its financial situation by the summer.
Prosafe slumps to loss and with no upturn until 2018
Accommodation vessel supplier Prosafe made a loss in the first quarter of 2016 as market uncertainty continues and little prospect of an upturn before 2018 it said.
Prosafe ropes in legal experts as it battles mounting debt
Prosafe today confirmed it had been forced to start discussions with legal and financial experts as it battles mounting debts.
Prosafe agrees North Sea hire with Talisman
Prosafe has agreed with Talisman Sinopec to provide the Safe Boreas accommodation vessel for operations on the Montrose field in the North Sea.
Safe Scandinavia gears up for Statoil work
Prosafe said the Safe Scandinavia has completed onshore acceptance testing and is now being mobilised to the Oseberg Ost installation to commence drilling support operations for Statoil.
Prosafe hands out $1million offshore living contract
Accommodation vessel group Prosafe has awarded an Aberdeen-based firm a £1million contract to provide temporary offshore living quarters.
Prosafe not expecting oil market recovery, plans pay cuts
Offshore accommodation provider Prosafe said there was no oil price upturn on the horizon after proposing a round of staff pay cuts. According to one Prosafe worker, who wishes to remain anonymous, the Norwegian company will implement pay cuts across the board from May. The employee said the firm’s top brass were taking pay cuts of 5-7%, while staff on lower wages faced reductions of 20-28%.
Prosafe’s earnings hit, as fleet lingers
Prosafe’s profit was cut in half as its fleet’s utilization continued a downward trend.
Prosafe boosts fleet utilisation by 62%
Prosafe said its fleet utilisation rate in the final quarter of 2015 rose by 62%.
Prosafe receives $30million credit on new accommodation rig
Prosafe has revealed it is to receive a $30million sellers credit on its new accommodation rig Safe Zephyrus from Jurong shipyard in Singapore.
Prosafe secures stranded accommodation vessel
Prosafe confirmed it has secured its stranded accommodation vessel the Safe Bristolia.
Prosafe aims to get line aboard stranded Safe Bristolia today
Norwegian firm Prosafe will attempt to get a tow line aboard the accommodation rig Safe Bristolia later today, if improved weather conditions hold.
Bad weather hampering attempts to reconnect accommodation rig
Bad weather continues to hamper attempts to get a tow line attached to the Safe Bristolia accommodation rig which came adrift in the North Sea on Sunday.
Prosafe brings drifting accommodation rig under control
Prosafe, the owners of the Safe Bristolia accommodation rig which came adrift in the North Sea, will attempt to get a tow line aboard later today.
Updated: Accommodation vessel adrift in North Sea
A floating accommodation vessel is adrift in the North Sea after breaking its towline in bad weather.
Statoil delays Mariner contract, sees fee increase by $55million
Statoil’s decision to delay its Mariner contract with Prosafe has seen the final contract total increase by $55million.
Prosafe raises cash through shares to bolster balance sheet
Prosafe, has raised NOK590million in a private placement of shares to bolster its balance sheet and improve cash flow.
Prosafe reports strong activity in third quarter
Offshore accommodation operator Prosafe has said its Regalia, Safe Bristolia, Safe Concordia and Safe Boreas units were fully contracted in the North Sea during the third quarter of 2015.