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PFC Petrofac Limited

27.42
1.42 (5.46%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Petrofac Limited LSE:PFC London Ordinary Share GB00B0H2K534 ORD USD0.02
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.42 5.46% 27.42 27.34 27.80 27.96 26.00 26.00 5,159,801 16:35:22
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Oil & Gas Field Services,nec 2.59B -310M -0.5996 -0.46 141.55M
Petrofac Limited is listed in the Oil & Gas Field Services sector of the London Stock Exchange with ticker PFC. The last closing price for Petrofac was 26p. Over the last year, Petrofac shares have traded in a share price range of 14.60p to 87.50p.

Petrofac currently has 517,000,000 shares in issue. The market capitalisation of Petrofac is £141.55 million. Petrofac has a price to earnings ratio (PE ratio) of -0.46.

Petrofac Share Discussion Threads

Showing 39326 to 39349 of 39350 messages
Chat Pages: 1574  1573  1572  1571  1570  1569  1568  1567  1566  1565  1564  1563  Older
DateSubjectAuthorDiscuss
29/3/2024
11:25
$86M book value Asset sale , legacy contracts and ready for start up Thai Oil stage payment on a contract $1.4Bn 10-20%, then Non controlling stake could be a private equity agreement cash injection that would be great, short term cash , unlocks guarantees. Then joint ventures , mbo, takeovers, equity raise and D4E bottom of the list imo, bond holders may want D4E but unlikely imo Nov 26 , BOD wont be giving it away for obvious reasons and certainly not when bonds not dues for 2.5years
armbar
29/3/2024
09:54
From Trading Update 27.07.2023

'We remain focused on closing out legacy contracts, with five of the remaining eight contracts expected to be completed during the second half of the year or early in 2024. On the Thai Oil Clean Fuel contract, good progress is being made on the construction phases of the project.

The execution plan remains in line with the update provided with the FY22 year end results and discussions with the client in relation to cost recoveries are ongoing'.

Do we have any intel on the progress of the five aforementioned projects?

FY results look to be due in a few weeks.

wellbutpoor
29/3/2024
09:44
PFC carry PM304 at a net book value of $86m on their balance sheet.

I doubt they'll get more than $60m in a distressed sale to ENQ or anyone else. Its something but not enough.

Impairment of Block PM304
The production sharing contract for Block
PM304 in Malaysia expires in September
2026, and we are in continued technical and
commercial discussions with Petronas and the
joint venture partners in respect of an extension.
Based on developments in the current year
and the associated uncertainty in respect of
securing that extension, management continues
to assume that it will not be secured when
assessing the carrying value of the asset at the
year-end. The review of all relevant assumptions
resulted in an impairment reversal of US$6
million (2021 restated: charge of US$33
million) recorded in the year. As a result of this
impairment, the net book value carrying amount
of Block PM304 as of 31 December 2022 is
US$86 million (2021 restated: US$84 million).

loglorry1
29/3/2024
09:02
How very altruistic, Log LOL
leoneobull
29/3/2024
09:01
Leonbull, Enquest might buy PM304. I hope they do but with the associated debt and decommissioning liabilities, as discussed it won't produce much cash to repay the RCF.

I hope Enquest do get them cheap. I hold a lot of ENQ bonds which have recovered to par and a little bit of the equity. Enquest have never been in the same situation as PFC. Their assets produce a lot of FCF which has paid back lenders. There's a huge difference between PFC and ENQ and also TLW. PFC have yet to show they can turn sales into FCF. Whereas ENQ has and contines to produce $300m FCF a year. TLW a lot more marginal. I hold a lot of the TLW senior secured bonds which are more risky than ENQ bonds but I still think I'll be repaid at par and they amortise along the way.

loglorry1
29/3/2024
08:55
I've just been told the answer to this is they can't keep the decomm liability.

"No. In Malaysia you need to fund your decommissioning cost, with cash on the asset side, so PFC has non-current asset restricted for expected decommissiong. If PFC sold the Malaysia asset, both the liability and asset leg related to the decom needs to go to the buyer, the rules are very strict."

Sorry bulls I tried.

loglorry1
29/3/2024
08:39
Would that be Enquest whose bonds traded well under par like pfc which have now recovered?Happy Easter all
leoneobull
29/3/2024
08:37
It seems like Enquest is looking to buy some assets in Malaysia. Could be PFCs Malaysia block PM304. We've discussed this before and concluded after paying down related debt and decommissioning liabilities it won't produce much cash.

However, I suppose PFC might be able to sell it and retain the decommissioning liabilities on their own balance sheet (which they can do themselves). This might free up a bit more cash.

A bull point for Easter.

loglorry1
29/3/2024
08:30
PFC price rising towards 44-54p as Deals flow.

Future bright adding more, don't miss-out!

halfpenny
29/3/2024
06:48
Big warning....a company with negative equity is dead..any time you can loose all your money here
covid 19 deal
28/3/2024
21:53
D) have no more information than anyone else and are just averaging, hoping it plays out GL
armbar
28/3/2024
21:43
PFC future bright...45-54p target closer
halfpenny
28/3/2024
20:54
Millenium have increased their short three times from 1.67 to 1.81% in a week.

Are they - (A)arrogant, (B)fortune tellers or (C)well informed / highly educated?

Please vote using the options above. Calls to this number are recorded and used for training. Please ask your grown up before voting....vulgar responses will be reported to the Ministry of Naughty Thoughts....

Bonds are flat.

ADR's are at an all time low.....

wellbutpoor
28/3/2024
17:33
Good traction today.

A welcome piece of news.

This is no busted flush.

It could be THE recovery play of the year.

Have a great weekend all.

WBP

wellbutpoor
28/3/2024
17:22
You added a 100M ? MBO 70p incl RCF 400M to 440M Bonds assumed GL
armbar
28/3/2024
16:00
It is an option Log you cannot dismiss it , bit like a private equity placement at higher than current share price with significant equity , Imagine the outcome , share price would fly for many reasons, That is also an option Research Fluor, Tullow and all the other companies with various scenarios , what we know is that no one on here knows the outcome GL
armbar
28/3/2024
15:43
PFC a Super Buy with 45-54 target...plus much more..

Future bright

halfpenny
28/3/2024
15:41
Ghh, got this wrong and is a fool with no idea. Now upset as he missed out on getting in before.....

Shorters like him are fools now Running for Them Hills...

halfpenny
28/3/2024
14:57
I'd take some of that ....
investtofly
28/3/2024
14:49
Sadly missed lol
investtofly
28/3/2024
14:46
For the of balance, Shore Cap have updated re Wood Group.

They say there are many reasons to be positive, Industry demand continues to rise, pricing is firming, and Wood is a critical supplier with improving margins. They reiterate their Buy rating and 200p target price, saying weak price offers a compelling opportunity.

FWIW I rate the chance of a D4E at over 90%. You can click on my posting history to see that I am not a shorter but an income investor. I don't want a D4E, my best result would a high share price facilitating a large equity rise or even better, a takeover. I just want my bonds to keep paying out.

I wonder if some of you are only invested in PFC and therefore unaware of the value offered elsewhere. It's a real bear market in some of the small caps, I've never seen such compelling low risk value as in the investment trusts, especially property and infrastructure. I'm buying LABS today at 40p versus 80p NAV as of results last Tuesday. A property REIT so that 80p is tangible assets, gearing 25%.

And DGI9 at 21p versus today's NAV update of 84p. Directors nearly ran out of cash so discredited and Trust in wind up mode. Markets are merciless and there is none of the rose tints seen here.

ghhghh
28/3/2024
14:45
What happened to lodgeview…its over?🤔


Onwards & upwards, investors are starting to take more upside bets on potentially under valued Companies small mid caps

ny boy
28/3/2024
14:41
Did someone notice the trade price 150 plus. Surprisingly Good luck
dipa11
28/3/2024
13:40
I was using Amar's $550m that he said an MBO could be achieved at.
loglorry1
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