Petrofac Share Discussion Threads

[paa65] 22/8/2017 10:30

Found this about the Mexico oil field just sold.https://www.petrofac.com/en-gb/regions/americas/projects/production-enhancement-projects/Was a 30 year contract from 2012 to 2042.Field producing 2000bpd which is about 35m dollars per year gross.So doesn't seem to be a massive money spinner

[ny boy] 22/8/2017 10:27

How much did they get, presumably a good price as the market is reacting positively?

[1gw] 22/8/2017 10:12

I suppose what would be a lot more interesting would be if they were to announce that they were going to put the whole of IES on the block for sale. That would presumably raise a fairly significant amount of cash and would send the analysts scurrying to revise their models.

Not an obvious thing to do perhaps with oil prices where they are, but if management wanted to shock the shorters it might be an option - linked to an announcement that they were confident enough in the underlying contracting business to have decided that this was the right time to get out of IES. And perhaps they would be able to ringfence any cash proceeds raised from such a sale with a view to making a special shareholder return.

[lodgeview] 22/8/2017 10:07

She's motoring now!

[1gw] 22/8/2017 09:50

I think this (the sale) is probably just a bit of tidying up in line with what I think is their strategy of withdrawing to some extent from the IES part of the business to concentrate on their core strength of being an engineering service provider.

[nicebut] 22/8/2017 09:42

Just pay the divi as before...IMO

[return_of_the_apeman] 22/8/2017 09:37

They could buy back some shares with it - that would hurt the shorters

Just dreamin, who knows

[gemlotte55] 22/8/2017 09:36

without having to trawl through Petrofacs last results, does anyone know what the book value is for this contract sale?

[ny boy] 22/8/2017 09:32

Need to be blue for the link to open, so as below:-

[cumnor] 22/8/2017 09:30

Special divi in mid of SFO investigation, even if they could afford it? No way. Should keep their heads down and just get on with running their business which is what they appear to be doing.

[bouleversee] 22/8/2017 09:28

Here's a link to the RNS.


hxxps://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=3370680&;lang=en-GB&companycode=uk-pfc&v=


They've sold the REMAINING 50%. It could be they need the dosh to pay the fine but hopefully it will be for a special or even just a decent dividend.

[callmebwana] 22/8/2017 09:24

The Shorts are still showing at 8.67%. Next few days should be interesting !!

[gemlotte55] 22/8/2017 09:08

What was the contract worth to them? if they pay a special divi as well the you would get an almighty short squeeze, heres hoping

[d1nga] 22/8/2017 09:06

You'll see a few p added to the share price every day until results IMO

i - then either a drop - on divi cut

or ii - off to the races - no cut to divi and positive sentiment on better than expected results


I'm holding for option ii

[callmebwana] 22/8/2017 09:05

Now !! Why would they sell 50% of a contract?? Maybe they plan to give us a special Divi ?? Just wondering!like!!
That would be nice to sqeeze the Shorters B...s where it hurts the most.

[nicebut] 22/8/2017 09:05

I`ve done my adding....Just got to hope/trust they keep paying the divi, keep getting new contracts and the PoO keeps going up...Think a few might have closed yesterday? Will be interesting to see the shorts sheet over next few days.

[garycook] 22/8/2017 09:01

nicebut,Correct.PFC starting to pick up traction now,even with a 70,000 sell recently recorded.Patience is certainly needed here.Looking to add,but not before next Wednesday,s Interims !

[nicebut] 22/8/2017 08:55

Patience grasshopper....

[garycook] 22/8/2017 08:51

But BP,and RDSB are up today ? PFC share price ceases to amaze me at times.

[ny boy] 22/8/2017 08:47

More the oil price falls from yesterday having a negative influence.

[garycook] 22/8/2017 08:20

The Market not receiving the RNS very well.Currently share price down slightly.With the general market up today !

[volsung] 22/8/2017 08:19

I am a dolphin with wings to fly.

[w1ndjammer] 22/8/2017 08:11

Its book value, you need to check last accounts, i am on a poor connection
so not possible.

WJ.

[rhatton] 22/8/2017 08:09

Anyone know the final consideration on this?