Interim results for the period ended 31 March 2017
(Thomson Reuters ONE) -
Highlights
· Operating Loss and EBITDA* in the quarter reported a loss of $41.4
million and $16.2 million, respectively, compared to a 4Q loss of $32.7 million
and $15.9 million.
· Issued a $402.5 million 2.75% five-year unsecured convertible bond with a
capped call that gives an effective conversion premium and price of 75% and
$48.86, respectively.
· Repaid balance of the 2012 five-year convertible bond and refinanced the
debt facility in respect of LNG carrier Golar Crystal.
· Secured firm two-year contract for Golar Grand commencing 2Q 2017 and a
12-month contract for a carrier commencing 1Q 2018.
Subsequent Events
· OneLNG's Fortuna joint venture executes Umbrella Agreement with the
Republic of Equatorial Guinea to establish the fiscal and legal framework for
the Fortuna FLNG project.
· Fortuna midstream EPC construction contracts awarded. Project on track
for mid-2017 final investment decision ("FID").
· Put Option in respect of FSRU Golar Tundra exercised by Golar Partners.
· The Company and Golar Partners enter into a purchase option agreement for
Golar Partners to acquire up to a 25% interest in FLNG Hilli Episeyo.
· OneLNG enters into a Memorandum of Understanding with the Republic of
Equatorial Guinea to find a monetisation solution for stranded gas focusing on
Blocks O and I offshore Malabo.
Financial Review
Business Performance
+----------------------------------------------------------+---------+---------+
| | 2017| 2016|
| | | |
|(in thousands of $) | Jan-Mar| Oct-Dec|
+----------------------------------------------------------+---------+---------+
|Total operating revenues (including revenue from | | |
|collaborative arrangement) | 25,110 | 23,063 |
| | | |
|Vessel operating expenses |(12,944 )|(11,424 )|
| | | |
|Voyage, charterhire & commission expenses |(12,593 )| (7,918 )|
| | | |
|Voyage, charterhire & commission expenses - collaborative | | |
|arrangement | (4,336 )| (4,715 )|
| | | |
|Administrative expenses |(11,441 )|(14,887 )|
| | | |
|EBITDA* |(16,204 )|(15,881 )|
| | | |
|Depreciation and amortization |(25,186 )|(16,826 )|
| +---------+---------+
|Operating loss |(41,390 )|(32,707 )|
+----------------------------------------------------------+---------+---------+
* EBITDA is defined as operating loss before interest, tax, depreciation and
amortization. EBITDA is a non-GAAP financial measure. A non-GAAP financial
measure is generally defined by the Securities and Exchange Commission as one
that purports to measure historical or future financial performance, financial
position or cash flows, but excludes or includes amounts that would not be so
adjusted in the most comparable U.S. GAAP measure. We have presented EBITDA as
we believe it provides useful information to investors because it is a basis
upon which we measure our operations and efficiency. EBITDA is not a measure of
our financial performance under U.S. GAAP and should not be construed as an
alternative to net income (loss) or other financial measures presented in
accordance with U.S. GAAP.
Golar reports today a 1Q 2017 operating loss of $41.4 million as compared to a
4Q loss of $32.7 million. As expected, the observed improvements in shipping
rates and activity levels during the final weeks of 4Q and into January
translated into a modest improvement in 1Q 2017 operating revenues. Contrary to
expectations, this additional spot market activity together with reduced
payments to Golar Partners in respect of the dry-docked Golar Grand did not
result in a reduction to reported voyage expenses. Of the $16.9 million 1Q
voyage expenses, $9.6 million represents the cost of chartering the Golar Grand
from Golar Partners. This compares to a 4Q charge of $4.9 million. Execution of
a new charter-party for the vessel in February triggered an additional non-cash
accounting provision that will be released to voyage expenses between February
and October 31, when the obligation to charter-in the vessel from Golar Partners
expires.
Vessel operating expenses increased $0.7 million to $12.9 million in 1Q.
Operating costs in 4Q were positively impacted by settlement of an insurance
claim in respect of the Golar Viking. Administration costs decreased $2.7
million from $14.1 million in 4Q to $11.4 million in 1Q. Prior quarter costs
were negatively impacted by legal and professional fees together with the write
off of deferred financing costs. Of this $11.4 million, a total of $5.0 million
of fleet management costs and costs directly attributable to affiliates OneLNG,
Golar Power and Golar Partners have been recharged. Depreciation and
amortisation at $25.2 million is $8.4 million higher than 4Q following a 15-
month catch-up charge, equivalent to $9.7 million, in respect of the FSRU Golar
Tundra which was not depreciated whilst accounted for as an asset held-for-sale.
This was offset by reduced depreciation in respect of the LNG carrier Gimi which
reached the end of its accounting useful life in December 2016.
Net Income Summary
+----------------------------------------------------+---------+---------+
| | 2017| 2016|
| | | |
|(in thousands of $) | Jan-Mar| Oct-Dec|
+----------------------------------------------------+---------+---------+
|Operating loss |(41,390 )|(32,707 )|
| | | |
|Interest income | 1,024 | 1,442 |
| | | |
|Interest expense |(19,257 )|(17,684 )|
| | | |
|Other financial items | 14,456 | 23,670 |
| | | |
|Gain on loss of control of Golar Power | - | 3,701 |
| | | |
|Other non-operating income (expenses) | 62 | (132 )|
| | | |
|Taxes | (189 )| (450 )|
| | | |
|Equity in net earnings of affiliates |(13,897 )| 37,760 |
| | | |
|Net income attributable to non-controlling interests| (6,652 )| (6,976 )|
| +---------+---------+
|Net (loss) income attributable to Golar LNG Ltd |(65,843 )| 8,624 |
+----------------------------------------------------+---------+---------+
In 1Q the Company generated a net loss of $65.8 million. Notable contributors to
this are summarised as follows:
· Interest expense has increased $1.6 million primarily due to the cost of
servicing the February issued $402.5 million convertible bond that replaces the
balance of a $250 million convertible bond repaid in early March.
· Other financial items reported 1Q income of $14.5 million, most of which
was derived from mark-to-market gains on the 3 million Total Return Swap ("TRS")
shares following a $4.99 quarter on quarter increase in the Company's share
price. Swap rates also continued to increase, albeit at a slower pace, resulting
in further non-cash mark-to-market interest rate swap gains.
· Gain on loss of control of Golar Power in 4Q pertains to a $3.7 million
adjustment to the provisional 3Q $12.2 million non-cash loss recognised on
disposal of Golar Power. No further adjustments were recorded in 1Q.
· The loss of $13.9 million 1Q equity in net earnings of affiliates is
primarily comprised of the following:
- a $4.1 million loss in respect of Golar's 50% share in Golar Power;
- a $1.2 million loss in respect of Golar's 51% share in OneLNG;
- a $8.7 million loss in respect of Golar's stake in Golar Partners.
This represents a significant fall relative to overall 4Q earnings of $37.8
million. Golar Partners earnings in 1Q declined as a result of scheduled off-
hire of the FSRU Golar Igloo and dry-dock off-hire for the carrier Golar Grand.
The Golar Partners contribution also includes a non-cash loss on deemed disposal
of $17.0 million, being the dilutive impact on our ownership interest due to
further issuances of common units by Golar Partners in February 2017.
Commercial Review
LNG Shipping
Despite showing some improvement over the prior quarter, the shipping market
remained weak in 1Q. Fleet TCE((1)) increased from 10,893 in 4Q to 14,189 in
1Q. The improvement was partly driven by a number of vessels in the Cool Pool
that secured short-term charters in the $30k per day range.
The underlying trend remains positive as new liquefaction projects continue to
deliver. Gorgon and Cheniere Trains 3 have exported their commissioning cargoes
and are now in ramp-up mode, Cheniere T4 remains on track for a 2017 start,
Petronas exported the world's first FLNG cargo from their PFLNG Satu facility in
early April, Wheatstone has affirmed the mid-year start-up of T1 to be followed
6-8 months later by T2, and Yamal LNG remains on track for an early October
start-up. In addition to this, Malaysia's T9 and now Gorgon T2 both continue to
ramp up production.
Approximately 34 million tons of new LNG is expected to come on line in 2017
representing 13% growth against 2016 global production. Against this, shipping
capacity is expected to grow by approximately 9%. This mismatch is expected to
have a positive impact on shipping over the same time frame. Consensus among
ship-owners of a sustained recovery from 3Q has firmed, aided by a notable
increase in inquiries for medium to long-term vessel requirements, particularly
for the lifting of open US volumes. With this in mind, and in addition to the
charter secured by Golar Partners for the Golar Grand, the Golar group has also
fixed a vessel to a Far Eastern utility. Scheduled to start in 1Q 2018, the 12-
month charter at rates close to cash break-even, comes with a six-month
extension option and flexibility to nominate the closest vessel at the time to
the required delivery point.
((1) )Non-U.S. GAAP Financial Measure: Time charter equivalent, or TCE, rate is
a measure of the average daily performance of a vessel. For time charters, this
is calculated by dividing total operating revenues (excluding vessel and other
management fee), less any voyage expenses, by the number of calendar days minus
days for scheduled off-hire.
Golar Partners
Golar Spirit, which is scheduled to be redelivered by Petrobras in June, is
being marketed for new opportunities. The market for smaller low cost FSRUs is
quite active as the cost of significant unutilised capacity on larger FSRUs can
undermine the economics of a switch to gas in certain niche markets. Smaller
units like the Golar Spirit are therefore able to provide a more economic
solution.
During the quarter, Golar Partners secured new business for the LNG carrier
Golar Grand. The vessel was removed from lay-up on February 14 for repairs and
relocated to Singapore for dry-dock, which completed on April 14. On May 5, the
vessel commenced a firm two-year charter with a high quality oil and gas major.
Golar will continue to sub-charter the Golar Grand from the Partnership until
October 31, 2017, when its obligation expires. Between May 5 and October 31,
daily hire from the new charter will accrue to Golar.
The FSRU Golar Tundra remains anchored off the coast of Ghana. Charterer, West
Africa Gas Limited, has made no further progress with the construction of
supporting land-based infrastructure. Golar has been granted an interim
arbitration award of $23.3 million which the company is now actively pursuing.
This covers the period up to December 31, 2016. Since then, a further $22.0
million has become due and this will also be pursued through the arbitration
process, in addition to amounts accruing thereafter. The Company is now seeking
an award against the guarantor.
Golar Partners has now exercised its right ("Put Right") to require Golar to
repurchase the company ("Tundra Corp"), the disponent owner and operator of the
FSRU Golar Tundra, at a price equal to the original purchase price (the "Put
Sale") paid by the Partnership in its acquisition of Tundra Corp in May 2016
(the "Purchase Price").
In connection with the exercise of the Put Right, the Partnership and Golar have
entered into an agreement pursuant to which the Partnership has agreed to sell
Tundra Corp to Golar on the date of the closing of the Put Sale (the "Put Sale
Closing Date") in return for Golar's promise to pay an amount equal to
approximately $107 million (the "Deferred Purchase Price") plus an additional
amount equal to 5% per annum of the Deferred Purchase Price (the "Additional
Amount"). The Deferred Purchase Price and the Additional Amount shall be due and
payable by Golar on the earlier of (a) the date of the closing of the
acquisition of the Hilli Shares and (b) March 31, 2018. The closing of the Put
Sale is expected to occur in June 2017, subject to customary closing conditions.
In addition to the Deferred Purchase Price, Golar will be liable for the
charterhire payments due under the sale and leaseback financing arrangement.
The Partnership has agreed to accept the Deferred Purchase Price and the
Additional Amount in lieu of a cash payment on the Put Sale Closing Date in
exchange for Golar granting to the Partnership the option (the "Golar Hilli
Episeyo Purchase Option") to purchase, at fair market value, up to a 25% equity
interest (the "Hilli Shares") in Golar Hilli Corp. ("Hilli Corp"), the owner of
the FLNG vessel Hilli Episeyo.
Under the new agreement with Golar, the Partnership has the ability to exercise
the Golar Hilli Episeyo Purchase Option at any time on or before March
31, 2018. There can be no assurance that the Partnership will exercise the Hilli
Purchase Option or that it will consummate an acquisition of the Hilli Shares.
The acquisition by the Partnership of the Hilli Shares will be subject to, among
other things, the approval by the Conflicts Committee of the Partnership's board
of directors of the decision to purchase the Hilli Shares, the fair market value
to be paid for the Hilli Shares and the other terms of the purchase.
In addition, the purchase agreement for the Hilli Shares will provide that the
Partnership will not be required to consummate the purchase of the Hilli Shares
if, among other things, the Golar Hilli Episeyo shall not have been delivered to
and accepted by Perenco Cameroon SA and Societe Nationale Des Hydrocarbures
("Perenco") and commenced its commercial operation under the eight year
Liquefaction Tolling Agreement with Perenco for the first two of four
liquefaction trains of Golar Hilli Episeyo. The purchase price to be paid by the
Partnership for the Hilli Shares would be reduced by the sum of the unpaid
Deferred Purchase Price plus the unpaid Additional Amounts on the date of the
closing of the Hilli Shares.
A 25% interest in the Hilli Shares is effectively 50% of the first two of a
total of four liquefaction trains. It is not expected, in the event a purchase
is agreed, that the Partnership would be acquiring exposure to any oil price
linked elements of the tariff under the Perenco contract or to the potential
expansion capacity of Hilli Episeyo. It is expected that Golar Partners can fund
the equity component of the purchase without the need for raising additional
funds.
Downstream - Golar Power
The Sergipe project that will deliver LNG fuelled power to 26 committed power
off-takers from 2020 is proceeding to plan. Site works are substantially
complete with foundations for the gas turbines now in place and the General
Electric sponsored EPC project continues on schedule and budget. With regards to
the required project debt financing credit approvals are also progressing, with
financial closing expected before 2017 year-end. Permitting of the regas
terminal, which represents the greatest challenge so far, is progressing well.
Construction of the FSRU Golar Nanook, that will support the Sergipe project, is
on schedule for delivery towards year-end. In the event that builders Samsung
are selected to carry out the requisite modifications, delivery will likely be
pushed back by around ten months, limiting the time available for trading prior
to its mid-2019 start-up. A decision on this is expected shortly, as is a fully
executed 25-year time charter party, both of which will facilitate the FSRU
delivery installment financing process.
A significant portion of the 115 mtpa of new LNG supply currently under
construction will soon become available in the market. It is expected that much
of this will likely end up in frontier markets that favour low cost, flexible,
quick delivering FSRUs. Several FSRU projects with award potential over the next
two years have been identified, a few of which could potentially be awarded this
year and commence operations in 2018. Although gas is becoming an increasingly
attractive component of the global energy matrix and the market for FSRUs is
growing, most initiatives are being sponsored by private enterprises that
require additional technical and financial support. Golar Power is therefore
looking to capitalise on and replicate the experience of Sergipe to offer unique
support to those developing LNG-to-power projects.
The regas module for the first of its modern LNG carrier conversions is
scheduled to deliver in early 2018, positioning it to support any project with a
requirement for a 2H 2018 FSRU. Several opportunities are being pursued that fit
with this time-frame.
FLNG
The FLNG Hilli Episeyo conversion is nearing completion. All equipment has been
installed and testing and pre-commissioning work is underway and will continue
in Singapore until departure from the yard, which is expected to be in around 6
weeks. Seawater trials, storing-up and potentially LNG bunkering in Singapore
will follow redelivery from the yard. A naming ceremony has been scheduled for
July 2. The mooring has now been completed and is en-route to Cameroon in
advance of hook-up and initiation of commissioning and production at the end of
September. Perenco are on track with their scope of works.
More than 16 million man hours have been worked by Keppel to date and
approximately 4,000 workers are expected to remain on-board the vessel through
to completion. Provided that remaining works progress according to current plans
and no unforeseen issues arise, the schedule to meet the end-September start in
Cameroon is tight but achievable. The FLNG Hilli Episeyo conversion remains
within budget.
Upstream - OneLNG
On May 2, Ophir Energy, OneLNG, GEPetrol and The Republic of Equatorial Guinea
signed a detailed Umbrella Agreement that defines the full legal and fiscal
framework for the 2.6Tcf Fortuna gas reserves, offshore Equatorial Guinea.
Concluding this multi-year exercise represents a critical step toward FID.
Contingent upon the Umbrella Agreement are two other key milestones, including
draw-down against a financing facility and sale of LNG offtake. A third
identified milestone, namely the award of upstream EPCIC and midstream EPC
contracts, has since been part satisfied following Golar's execution of an
amended EPC contract for the conversion of the LNG vessel Gandria. The
effectiveness of the EPC contract executed by Golar does however remain subject
to a FID.
Including upstream and midstream development capital expenditure, the Fortuna
project is expected to cost approximately $2.0 billion to develop. Of this,
approximately $1.5 billion will be needed to convert the FLNG Gandria and $0.5
billion will cover upstream work. Documentation for a midstream facility of up
to $1.2 billion with a consortium of Chinese lenders is ongoing and now remains
the time-critical input for FID. Should the Equatorial Guinea government elect
to invest in up to 30% of the mid-stream as they are entitled to, the ownership
structure of the Fortuna joint venture would remain unchanged, however its stake
in the FLNG Gandria would reduce.
OneLNG continues to make good progress exploring other projects. On May 29 it
entered into a binding Memorandum of Understanding with the Ministry of Mines
and Hydrocarbons of Equatorial Guinea to explore the liquefaction and
commercialisation of natural gas. Efforts will be focused on Blocks O and I
offshore Malabo. Agreement terms place obligations on both parties to find a
technical and commercial solution to monetise gas that is either stranded or
being re-injected in liquids production. That commercial solution is to include
the provision of an FLNG vessel, associated infrastructure and the creation of
an LNG sales vehicle. The parties seek to reach definitive agreements to proceed
by December 2017 but no later than December 2018. In addition to this, OneLNG is
also working on 3-4 additional projects, each involving one or more FLNG unit.
Following last year's successful barge-based commissioning of identical
liquefaction technology to that used on Hilli Episeyo, Petronas have recently
exported the world's first LNG cargo from an FLNG unit offshore Malaysia. Whilst
proof of quite different concepts, both examples help build support for FLNG
amongst an inherently conservative audience.
Financing Review
FLNG Hilli Episeyo financing
As at March 31, 2017, $710.0 million has been spent on the Hilli Episeyo
conversion ($774.8 million including capitalised interest) and $300 million has
been drawn against the $960 million CSSCL facility. A material portion of the
outstanding capital expenditure is payable upon charterer acceptance of the
vessel. This will closely coincide with receipt of a final $260 million tranche
of debt which is drawable upon the earlier of vessel acceptance or after three
months hire has been received. At this point, likely to be early 2018, the
company expects to release approximately $160 million of equity. A further $87
million of the outstanding $232 million letter of credit will be released a year
after acceptance.
The $300 million drawn to date against the project financing facility has been
reclassified as short-term debt and will be replaced by the pre-arranged $960
million sale and leaseback facility after vessel acceptance, expected within 12-
months.
Convertible bonds
On February 17, the Company closed a new $402.5 million senior unsecured five-
year 2.75% convertible bond with an initial conversion price of $37.69. To
mitigate the dilution risk of conversion to common equity, the Company also
entered into capped call transactions costing approximately $31.2 million. The
capped call transactions have an initial strike price of $37.69 and an initial
cap price of $48.86, the cap price of $48.86 being a proxy for the revised
conversion price and representing a 75% premium. The conversion price will be
adjusted for future dividends paid. Bond proceeds, net of fees, and the cost of
the capped call amounted to $360.2 million.
On March 4, the company drew down on a three-year $150 million margin loan
secured by 20.9 million Golar Partners common units and, on March 7, the
outstanding $220 million balance of the 2012 five-year $250 million convertible
bond was repaid.
Golar Crystal refinancing
On March 14, Golar drew down $112 million against a ten-year sale and leaseback
facility agreed with a subsidiary of COSCO Shipping in respect of the LNG
carrier Golar Crystal. Concurrent to this, an existing 2019 maturing $101
million Korean ECA backed facility was repaid. This transaction released
approximately $18.9 million including restricted cash to 1Q liquidity.
Liquidity
Golar's unrestricted cash position as at March 31, 2017 was $456.7 million. This
will be used to fund the Company's initial equity participation in the Fortuna
FLNG project, expected to be approximately $47 million in 2017, to meet its
remaining commitments to Golar Power, expected to be approximately $75 million
in 2017, and for general corporate purposes.
Corporate and Other Matters
As at March 31, there are 101 million shares outstanding including 3.0 million
TRS shares that have an average price of $42.03 per share. There are also 3.9
million outstanding stock options in issue. The dividend will remain unchanged
at $0.05 per share for the quarter.
Outlook
The conversion of Hilli Episeyo is progressing to a tight but achievable
schedule. Transit to Cameroon and commissioning will be the next milestones. The
mooring is expected to be ready for connection to Perenco's onshore processing
facilities during July and Perenco are on track with their infrastructure
responsibilities.
Recent discussions with key stakeholders in Cameroon represent grounds for
optimism that train three will be utilised soon after the vessel has been
accepted and demonstrated itself to be operationally stable.
Good progress has been made with the Fortuna project. Execution of an Umbrella
Agreement that provides for government participation in the LNG mid-stream
ensures the crucial alignment of key stakeholder interests. This together with
progress on financing and offtake agreements provides the belief that a mid-
2017 FID is an achievable objective. Further co-operation with the government
of Equatorial Guinea to commercialise gas reserves elsewhere in the country via
an additional FLNG unit is cause for optimism and further underscores the
benefits of good stakeholder alignment.
Having raised gross proceeds of approximately $119.4 million in February and
exchanged its interest in the FSRU Golar Tundra, Golar Partners now has the
capital it needs to acquire one train, approximately 50% of currently contracted
fixed cashflows of the Hilli Episeyo. Associated operating income over 8 years
will add significant revenue backlog and substantially mitigate the Partnerships
current re-contracting risk.
Although the shipping business is expected to remain disappointing in 2Q, the
increased term charter activity and additional volumes arriving in 2H17
represent grounds for cautious optimism.
Recent financing exercises have strengthened the balance sheet. Golar's
liquidity position will be strengthened further if the Hilli Episeyo transaction
with Golar Partners is executed as planned. Having strategically positioned
itself as a low cost provider of infrastructure solutions to an increasingly
cost sensitive industry with significant growth prospects, the foundations are
now in place to deploy this competitive strength.
Forward Looking Statements
This press release contains forward-looking statements (as defined in Section
21E of the Securities Exchange Act of 1934, as amended) which reflects
management's current expectations, estimates and projections about its
operations. All statements, other than statements of historical facts, that
address activities and events that will, should, could or may occur in the
future are forward-looking statements. Words such as "may," "could," "should,"
"would," "expect," "plan," "anticipate," "intend," "forecast," "believe,"
"estimate," "predict," "propose," "potential," "continue," or the negative of
these terms and similar expressions are intended to identify such forward-
looking statements. These statements are not guarantees of future performance
and are subject to certain risks, uncertainties and other factors, some of which
are beyond our control and are difficult to predict. Therefore, actual outcomes
and results may differ materially from what is expressed or forecasted in such
forward-looking statements. You should not place undue reliance on these
forward-looking statements, which speak only as of the date of this press
release. Unless legally required, Golar undertakes no obligation to update
publicly any forward-looking statements whether as a result of new information,
future events or otherwise.
Among the important factors that could cause actual results to differ materially
from those in the forward-looking statements are: changes in LNG carriers, FSRU
and floating LNG vessel market trends, including charter rates, ship values and
technological advancements; changes in the supply and demand for LNG; changes in
trading patterns that affect the opportunities for the profitable operation of
LNG carriers, FSRUs; and floating LNG vessels; changes in Golar's ability to
retrofit vessels as FSRUs and floating LNG vessels, Golar's ability to obtain
financing for such retrofitting on acceptable terms or at all and the timing of
the delivery and acceptance of such retrofitted vessels; increases in costs;
changes in the availability of vessels to purchase, the time it takes to
construct new vessels, or the vessels' useful lives; changes in the ability of
Golar to obtain additional financing; changes in Golar's relationships with
major chartering parties; changes in Golar's ability to sell vessels to Golar
LNG Partners LP or Golar Power Limited; Golar's ability to integrate and realize
the benefits of acquisitions; changes in rules and regulations applicable to LNG
carriers, FSRUs and floating LNG vessels; changes in domestic and international
political conditions, particularly where Golar operates; as well as other
factors discussed in Golar's most recent Form 20-F filed with the Securities and
Exchange Commission. Unpredictable or unknown factors also could have material
adverse effects on forward-looking statements.
As a result, you are cautioned not to rely on any forward-looking statements.
Actual results may differ materially from those expressed or implied by such
forward-looking statements. The Company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise unless required by law.
May 31, 2017
The Board of Directors
Golar LNG Limited
Hamilton, Bermuda
Questions should be directed to:
Golar Management Limited - +44 207 063 7900
Oscar Spieler - Chief Executive Officer
Brian Tienzo - Chief Financial Officer
Stuart Buchanan - Head of Investor Relations
Interim results for the period ended 31 March 2017:
http://hugin.info/133076/R/2109454/801509.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Golar LNG via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 31.05.2017 - 13:57 Uhr
Sprache: Deutsch
News-ID 545511
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contact information:
Town:
Hamilton
Kategorie:
Business News
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