Member Info for Diver169

Some nice contracts banked...nice to see the steady climb.

The Shah Deniz consortium today announced the final investment decision (FID) for the Stage 2 development of the Shah Deniz gas field in the Caspian Sea, offshore Azerbaijan. The contract for the initial phase of the subsea and pipeline engineering and project management services, amounting to $57 million, has been awarded to Wood Group Kenny Limited (WGK).

UK Defence Secretary Philip Hammond revealed on Thursday that Britain's oldest nuclear submarine, HMS Vanguard, is to have its reactor refuelled at a cost of £120m after the test reactor was found to be faulty. I'm sure the others will follow after this discovery!

Wood Group PSN (WGPSN) has been awarded its first major contract in the UK in 2014. The five year contract extension from Talisman Sinopec Energy UK is valued at $500 million USD and includes an option for two additional, two year extensions.

Fast-track plans for a major revamp of the UK oil and gas industry were unveiled today. The recommendations, which are expected to generate "at least" £200bn during the next 20 years, were the work of retired businessman Sir Ian Wood, the former Chairman of energy services giant Wood Group. His plans address collaboration between the industry and the government, regulation of the industry, as well as maximising production levels and utilising modern technology.

Nice to see some board confidence, or just topping up the pension pot? A long way to go to catch up with mr Semple! steady rise today please. GL

Thanks for that, as they say in London..."Mind The Gap" I hope it doesn't fly too soon, its month end before my monthly top-up!! GL

He has been involved with PSN longer than his current role and the acquisition they are making are doing well. Bob Keiller became CEO of Wood Group in November 2012, having served previously as CEO of Wood Group PSN. He has worked in the oil & gas industry since 1986 and led the management buyout of PSN from Halliburton in 2006 and its subsequent sale to Wood Group in 2011. Onwards and upwards GL

CEO Bob Keiller said 2013 was another year of good growth for Wood Group. "We are predominantly an upstream oil and gas services business and our intention is to broaden and deepen the services we can offer in this sector," Keiller said in a statement. "We have reviewed all parts of the Group from three perspectives: risk profile, current and future financial performance and strategic fit with the Group overall, and this has resulted in a number of actions including the acquisition of Elkhorn and the joint venture with Siemens," he said. Looking to 2014, Wood Group's mix of opex and capex activities and the contribution of completed acquisitions was expected to lead to growth overall, Keiller said.

Well written summary of events and the strategic direction of WG. The PSN deal gives me confidence that this board know what they are doing and the rewards will come as they continue to reshape the business. Nice rise today, long May it continue. GL

Onwards and upwards...  Profit before tax of $412.8m (2012: $361.4m) up 14%  Adjusted diluted EPS of 98.6 cents (2012: 85.2 cents) up 16%  Total dividend of 22.0 cents per share (2012: 17.0 cents) up 29% Group highlights

Let's hope for some good news to lift this share price! Good luck all holders

Skilled workforce Unite national officer Ian Waddell said: "Workers on the Clyde deserve better than the below inflation pay cut Babcock wants to impose on them and this overwhelming mandate for strike action is a reflection of their anger. "This is a conscientious, highly skilled collective that understands the unique challenges of their working environment and have consistently worked with the employer down the years to help deliver sustainability for both Babcock and the Ministry of Defence (MoD) on the Clyde. "It is shameful that Babcock is trying to hide behind the MoD and say its hands are tied by the contractual arrangements, forcing a pay cut which is not only derisory but patently unfair in comparison with the consolidated above-inflation deals settled at Devonport and Rosyth. "Put simply, we cannot accept regressive public sector pay policy being imposed on private sector workers and Babcock Marine should stand up for the loyal workforce."

Nice to see it creeping up today after my monthly top up. They have good relationships with the oil majors, I'm sure Falklands is in the plans. I'm happy working down in Angola with them at the moment.

WGPSN has secured a five year contract extension to provide operations, maintenance and construction management services for asset facilities in central Africa in a deal worth more than $140 million USD. The contract employs about 580 people and marks the continuation of a contract first awarded in 2006. An additional contract extension to provide operations and maintenance services to assets in Equatorial Guinea boosts the company’s success in Africa. This three year contract extension is worth more than $110 million USD and secures employment for around 130 people both onshore and offshore. The contract was first awarded to WGPSN in 2003.

Good start to the year, the engineering design and consultancy side are doing really well, should see more contract revenue coming onto the books, still a great top up price.

No idea, all I see on our weekly communications is more contract wins or renewals! I hope I get the chance to top up later in the week when I release some funds!

Surprised to see it back at this level, topping up again, its not that long ago we were up in the high 800s!

Here's to a good 2014, all the best Holders

Wish mine was in the millions! 5 k topped up today...this will be back up over the next few months