Member Info for Kozmo

Https://www.outlookbusiness.com/news/uk-secures-13-billion-investment-boost-including-major-bets-from-indian-firms

"Among the largest commitments is a £1 billion investment from Paris-based private equity firm InfraVia Capital Partners, which will be directed towards battery storage and flexible energy infrastructure projects.

Indian renewable energy company Atri Energy Transition, headquartered in Hyderabad, has also announced plans to invest more than £300 million in large-scale battery storage projects and advanced manufacturing facilities in the UK."

JSB1989 - "The problem with the hub and spoke is that unless a company has been listed or has gone through rounds of private funding, you can’t really attribute a valuation to that asset."

Absolutely. However, from the recent results announcement and presentation it seems management fully acknowledge this and the valuation gap it creates between intrinsic value of the portfolio and market value of the company. A number of measures were mentioned to close this gap including converting the portfolio into clearly monetisable pieces, with the prime lever being earlier spin-outs funded by outside capital

Can anyone confirm if Seaport will definitely begin trading on 30 April? I could be wrong, but thought pricing occurs after the market closes, so if pricing is on 30 April, trading will begin 1 May?

Mary,

Absolutely, market cap will be £4b+ with new shares. More interestingly, our production will now be similar to Woodside ... which if I'm not mistaken has a £20b+ market cap! Hopefully plenty of upside ahead

I suspect today's rise largely due to the broker upgrade as reported in The Times :-

"Speaking of broker recommendations, Harbour Energy flowed higher as analysts at Bank of America argued that its $11.2 billion takeover of Germany’s Wintershall Dea could trigger a “major re-rating opportunity”. Its shares closed up 18½p, or 6.2 per cent, at 315p."

Astaris increased short position by 0.13%, equates to roughly £0.5m of Petrofac's market cap. This relatively small change in position has contributed circa 10% bring knocked off the share price! Tempted to average down at this price, given the long term fundamentals

Great find Harry. Anyone have access to the full article? Useful to see if there is anything further in the piece that provides a pointer to Petrofac or Wood! Thanks

Awarded today (not Petrofac) ... "The contract was given to a joint venture between National Petroleum Construction Company Co PJSC (NPCC), owned by Abu Dhabi state fund ADQ, and Spain’s Tecnicas Reunidas, ADNOC Gas said in a statement."

https://www.reuters.com/article/adnoc-gas-infrastrcture-tecnicas-reunida-idUSL4N39Q16N

AD66, thanks for posting but this is old news from 17th July ...

https://www.petrofac.com/media/news/petrofac-secures-integrated-services-contract-for-fpso-in-africa-with-cnr-international/

The trading statement of 27th June has already provided a precursor of the results. The key items that I'm looking out for in the results are updates to legacy contracts (and outcomes of recoveries, if known), reiterance of cash flow guidance for full year, and more importantly the outlook incl future opportunities/bidding pipeline

Thanks for the full article ELYA49. Was hoping Petrofac would be the frontrunner for this one. Guess not on this occasion.

Hopefully plenty more contracts in the pipeline, especially with Petrofac being in the sweet spot in 3 key areas, all with increasing demand over the next few years ...

1) Hydrocarbons

2) New energies

3) Decommission activity

Hi Gilljoe, any further info on the Sahil third expansion phase? I've seen the following link but don't have access to the site. Would appreciate if you (or anyone else) with access could post more. Cheers

https://www.upstreamonline.com/exclusive/abu-dhabi-front-runner-emerges-for-prized-adnoc-oilfield-expansion-project/2-1-1491073

One more ... FEED project green hydrogen. Probably small fry but momentum building ...

https://samlesburynetzero.co.uk/press-releases/

FYI, Petrofac one of four companies bidding on a c£400m contract ...

https://www.livemint.com/companies/news/lt-uae-co-eye-4-400-cr-nlc-project-11687713479312.html

Wood's Q1 Trading Update today.

From Sharecast news (via HL app) ...

Oil and gas engineer Wood Group, currently in talks on a potential $1.6bn takeover by private equity group Apollo, held annual guidance as first quarter revenues increased.

The company on Thursday said revenue rose to around $1.45bn, reflecting good momentum across all business units. Group adjusted core earnings was in line with expectations.

Its order book at March 31 was around $5.7bn, slightly lower than at December 2022 and reflecting the phasing of large multi-year awards in operations, Wood said.

"The order book for delivery in 2023 has continued to build and is up significantly on the position a year ago," it added.

"While we remain mindful of the uncertain economic outlook, our expectations for 2023 remain unchanged."

Harry44, seems that's an old article from August 2022 ...

https://www.lse.co.uk/news/PFC/jp-morgan-stays-overweight-on-petrofac-says-bid-pipeline-growing-and-accelerating-df8qg0v8zo57r39.html

https://www.energyvoice.com/oilandgas/north-sea/499933/capacity-capability-competitiveness-petrofac-north-sea-energy-transition/

"With six stations locked in, he is also hopeful that successful delivery will pave the way for further TenneT awards in future."

For any holders who haven't already done so, I would **highly** recommend you listen to the results presentation webcast/Q&A's (link on Petrofac website).

I've just had a chance to do so - session extremely informative, and I've come away with a lot more confidence in the future of my investment.

Alleviation of funding concerns a major, relief!

Looking forward to a positive 18 months or so, and would certainly expect a healthy increase in the market cap by the end of 2024.

The additional $8bn was not Petrofac related but awarded to Siemens Energy/Dragados. Also refer PaddiG / Gilljoe post from Friday morning.

However, see attached re Lionlink. This *could* be promising for Petrofac ...

https://www.newpower.info/2023/04/multi-purpose-interconnector-to-link-gb-netherlands-and-offshore-wind-farms/

In addition to filtering, also worth reporting their post(s) for being disruptive ... posting constant drivel that has no relevance to the message board