Songa Offshore SE reports total revenue for the fourth quarter 2016 of USD 187 million and EBITDA of USD 107 million.
"With a strong focus on rig performance and cost efficiency Songa Offshore is pleased to report another solid operational quarter, where we have had good Cat D uptime. As for the Songa Enabler, we are pleased that Statoil has accelerated the start-up from the suspension period from 1 April to early March, and we look forward to having all four Cat D rigs on operating rate again. During the quarter we also extended unsecured debt maturities improving 2018 liquidity significantly", says Songa Offshore CEO, Bjørnar Iversen.
Please find attached the Report and the Presentation for the fourth quarter 2016.
24 February 2017
Limassol, Cyprus
Board of Directors
Songa Offshore SE
Questions should be directed to:
Bjørnar Iversen, CEO (+357 99649152)
Jan Rune Steinsland, CFO (+47 97052533)
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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