Aker Solutions Raises 2019 Forecasts
Norway's Aker Solutions ASA raised its 2019 revenue outlook on expected higher spending on the offshore oil services and reported better than expected first-quarter profits, lifting its shares on Tuesday.The upbeat sentiment on oilfield spending is a result of record cashflows accumulated by oil companies on the back of cost-saving measures instigated since the 2014 oil slump and rising crude prices as the market has recovered.Oslo-listed Aker now expects revenue to rise by close to 10 percent in 2019, citing a strong order intake and continued high tendering activity, with its underlying core
Aker Solutions Scoops up Own Shares
Aker Solutions ASA informs it has today purchased 130,000 of its own shares at an average price of NOK 29.8100 per share. The shares were acquired on the Oslo stock exchange as part of the company's share purchase program for employees. This gives Aker Solutions a new holding of 1,007,311 own shares.
Statoil Inks Subsea pacts with Duo
Statoil Petroleum AS has signed Master Service Agreements with Aker Solutions ASA and OneSubsea Processing AS. The agreements signed form the basis for potential new EPC contracts (engineering, procurement and construction) for subsea equipment in the medium term future. An EPC option agreement for subsea production system (SPS) has also been signed with OneSubsea, including framework agreements for subsea operations services and subsea add-ons. Last year Statoil also signed a Master Service Agreement and an EPC contract including options for EPC project with FMC Kongsberg Subsea AS for
Name-Juggling No Handicap as Akastor Nets CSV Contract
Akastor ASA informs that it has commenced trading exclusive of rights to consideration shares in New Aker Solutions, and secured an extension of the CSV 'Skandi Santos' charter the same day. Following the completion of the demerger of the Aker Solutions group, Aker Solutions ASA has changed its name to Akastor ASA and is traded under the ticker AKA at Oslo Stock Exchange. New Aker Solutions has simultaneously changed its name to Aker Solutions ASA, and will as of Monday September 29, 2014 trade under the AKSO ticker at Oslo Stock Exchange. CSV "Skandi Santos" was awarded five-year
Aker Solutions Demerger Registered
The consummation of the demerger of Aker Solutions ASA (the existing Aker Solutions) was registered with the Norwegian Registry of Business Enterprises after the close of trading on the Oslo Stock Exchange on September 26, 2014. The separation of Aker Solutions into two independent companies was announced on April 30 and approved by shareholders on August 12, 2014. The completion of the demerger involves changes to the share capital, the registration of new boards of directors, changes in company names and trading tickers and adoption of new articles of association, as outlined below. As a
Oslo Stock Exchange Approves Listing of Aker Solutions Holding ASA
The board of directors of the Oslo Stock Exchange has approved the listing of shares in Aker Solutions Holding ASA, to be renamed Aker Solutions ASA on completion of the demerger of Aker Solutions, and granted permission for trading in the shares to begin on September 29. Aker Solutions Holding ASA was created to facilitate the demerger of Aker Solutions into two independent companies. It will be renamed Aker Solutions ASA on completion of the separation announced April 30 this year. The existing Aker Solutions will be renamed Akastor ASA, an oil-services investment company created by the separation.
Demerger Proposed at Aker Solutions
The board of directors of Aker Solutions ASA has in accordance with the strategy disclosed April 30 resolved to propose to the company's shareholders that Aker Solutions be split into two companies. The board has also determined to write down the value of some assets in the Aker Oilfield Services unit of Akastor, one of two companies that will emerge from the separation. Aker Solutions Holding ASA - a subsidiary of Aker Solutions ASA established for the purposes of the demerger and which will apply for listing of its shares on the Oslo Stock Exchange - will through the proposed demerger assume Aker
Aker Joins Baker Hughes in Subsea Production Alliance
From Oslo, Norway, and Houston, Texas, respectively Aker Solutions ASA and Baker Hughes Incorporated inform they have agreed to form an alliance to develop technology for production solutions that will boost output, increase recovery rates and reduce costs for subsea fields. Aker Solutions explain that the non-incorporated alliance will combine Aker Solutions' strengths in subsea production and processing systems with Baker Hughes' expertise in well completions and artificial-lift technology to deliver reliable, integrated in-well and subsea production solutions that will help mitigate risk
Aker Solutions' Subsea Business Does Best in Q3 2013
Aker Solutions ASA publish their third-quarter results 2013 showing a fairly even performance in the group's sectors, but in subsea widening its profit margin to 10.9 percent from 8.7 percent a year earlier. Financial Highlights Sales were NOK 10.9 billion in the third quarter of 2013, compared with NOK 11.2 in the third quarter of 2012. Earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to NOK 1.07 billion in the quarter, compared with NOK 1.12 billion in the year-earlier period. The EBITDA margin was 9.8 percent in the quarter, compared with 10.1
February 2024
