Здравствуйте. Вся информация этого сайта бесплатна. Вы можете сделать пожертвование и поддержать наше развитие. Спасибо.

Hello. All information of this site is free of charge. You can make a donation and support our development. Thank you.

2014-08-29 17:55:00

FITCH: TO BUY PEERS

FITCH: TO BUY PEERS

A cyclical downturn in offshore drilling might provide an opportunity for driller contractors having financial flexibility to buy their peers at favorable prices, Fitch Ratings of Chicago said in a recent research note, adding that master limited partnerships (MLPs) in particular can provide financial flexibility.

"Near-term offshore demand has moderated," Fitch said in a recent report, estimating newbuild rigs scheduled for delivery through Dec. 31, 2018, will equal about one third of the working worldwide rig fleet.

"This has led to contracting delays, and it will also probably result in shorter-contract terms and lower dayrates over the near-term," the credit ratings agency said.

Meanwhile, drillers might consider buying assets rather than investing in new rigs as they seek to improve asset quality and gain market share. More consolidation among offshore drilling contractors also could improve pricing power and, if necessary, a more orderly fleet attrition process, Fitch said.

A corporate parent using an affiliated MLP can fund an acquisition through dropdown proceeds. MLPs also can enable contractors to purchase peers directly at tax-advantaged multiples, Fitch said.

"Both options provide further acquisition advantages to corporate drillers with an affiliated MLP. In either case, parent-driller stakeholders would directly (via a corporate acquisition) or indirectly (via an MLP acquisition) improve asset quality and cash flow prospects," Fitch said.

Affiliated MLP stakeholders would realize additional asset and cash flow growth.

ogj.com

Tags: FITCH, DRILLING, OFFSHORE, RIG

Chronicle:

FITCH: TO BUY PEERS
2018, September, 19, 13:43:00

ЦЕНА URALS: $74,45568

МИНФИН РОССИИ - Средняя цена на нефть Urals за период мониторинга с 15 августа по 14 сентября 2018 года составила $74,45568 за баррель, или $543,5 за тонну. Согласно расчетам Минфина России экспортная пошлина на нефть в РФ с 1 октября 2018 года повысится на $7,5 и составит $137,5 за тонну.

FITCH: TO BUY PEERS
2018, September, 19, 13:39:00

SAUDIS OIL PRODUCTION: 10.42 MBD

PLATTS - Saudi production has since risen to 10.42 million b/d in August, the country reported to OPEC in the organization's most recent monthly oil market report. Saudi Arabia's crude oil stocks, which have been declining steadily over the last three years, fell to 229.41 million barrels in July, down 11.4% since May 2017, the JODI data showed.

FITCH: TO BUY PEERS
2018, September, 19, 13:35:00

U.S. PRODUCTION: OIL + 79 TBD, GAS + 961 MCFD

U.S. EIA - Crude oil production from the major US onshore regions is forecast to increase 79,000 b/d month-over-month in October from 7,515 to 7,594 thousand barrels/day , gas production to increase 961 million cubic feet/day from 72,127 to 73,088 million cubic feet/day .

FITCH: TO BUY PEERS
2018, September, 19, 13:30:00

U.S. - CHINA SANCTIONS: $60 BLN

REUTERS - Beijing on Tuesday said it would tax U.S. products worth $60 billion effective Sept. 24 in retaliation for tariffs imposed by U.S. President Donald Trump in an escalating trade war.

All Publications »