Petrofac Share Discussion Threads

[woodhawk] 13/12/2017 14:06

Quotes from RigZone:

"Oil and gas services company Petrofac has secured almost $1 billion in new contracts from Basra Oil Company (BOC) and BP plc."

"Earlier this year, Oman's Duqm Refinery and Petrochemical Industries awarded a $2 billion contract to Petrofac’s 50:50 joint venture with Samsung Engineering. The company also secured a $1.3 billion engineering, procurement and construction contract for the Burgan oil field in south-east Kuwait, from Kuwait Oil Co, back in March."

hxxps://www.rigzone.com/news/petrofac_secures_almost_1b_in_new_contracts-13-dec-2017-152782-article/

[fuji99] 13/12/2017 11:01

IMO the Trading Update tomorrow will lead the way to the share price future direction because it will certainly include strengths and weaknesses for the foreseeable future.
The balance between the two will make the difference to the share price next medium term move.

[paa65] 13/12/2017 10:07

The Basra Oil win is on PFC website.https://www.petrofac.com/en-gb/media/news/

[ny boy] 13/12/2017 09:30

Chart resistance 460p, once that breaks, should get a reaction to 501p +

[ny boy] 13/12/2017 09:26

658p target value from this lot

[topazfrenzy] 13/12/2017 09:25

550 before Christmas?

[vk74] 13/12/2017 09:17

Of course in future will go up. This is a very good company and I am looking a reentry point after taking profits yesterday. I could not ignore 5k profit

[vk74] 13/12/2017 09:14

Usually the positive news are already priced in as per last couple of days rise. It needs for the news to be super good to go higher.

[paa65] 13/12/2017 09:05

I think two things are holding back the rise.Firstly, it had already risen 25p in two days at the time of the RNS. Was that in anticipation of the contract?Secondly, nervousness ahead of tomorrows statement. Will that confirm a better second half revenue as promised? Will it confirm North Sea sales plans? Or will both disappoint. But if the statement is very good, there'll then be lots of reasons for this to go much higher.

[bluerunner] 13/12/2017 08:33

It'll require a bit more press coverage to move things north. The contract win is reassuring on several levels. Just give it time - and take the divi. This was always going to require patience but I believe that will be rewarded.

[woodhawk] 13/12/2017 08:30

$800M contract win and almost zilch response so far. You couldn't make it up.

[markbelluk] 13/12/2017 07:00

This really could be one the last days you will get this so cheap!!

[woodhawk] 12/12/2017 22:49

Clearly now the feared no-contacts scenario which drove the share price down has not played out. In fact PFC have now won more the twice the high value contracts they won in the first half of the year! The sale of their North Sea operations could release circa another half-billion $.

Surely there are only two real options from here:
1) Bid from Schlumberger or Halliburton or another party (say 25% premium to 500p = 625p) or
2) the share price recovers substantially enough (i.e. somewhere north of 600p?) to negate a bid?

[scooper72] 12/12/2017 22:07

I have to confess I started selling my 20k holding as it started slipping back down, I'm glad I went back in at 440 with 10k and didn't drop out when it slipped close To 420. Could have played the last 3 months much better on PFC but at least I am still in there for any potential move upwards. Probably about break even so far with the div and the help of a little spread bet.

[stoxx67] 12/12/2017 20:50

very pleased to see break of August downtrend today.

for whatever reason, be it takeover, sale of North Sea assets or indeed contract wins / trading update or SFO statement...

we should now see solid upside.

investment is always a game of time and patience with quality companies.

short term target should be 481

enjoy !!!

[woodhawk] 12/12/2017 20:42

Quotes from an FT article tonight:

"Petrofac hit its highest level since September as news of a contract win helped bolster confidence that a Serious Fraud Office investigation is not affecting its order book... The group has already announced about $2bn of contract awards for the second half, up from $1.3bn in the first half."

The FT also notes that the rumoured sale of the North Sea operations could be worth $400-$600M, reducing the debt by half to three-quarters.

So can someone remind me why PFC has lost half it's value?

[woodhawk] 12/12/2017 20:31

The clueless always were useless, and now they're voiceless as well! Where are Cinquewithoutatrace, Fugdit66 and FlimFlammer?

[chelsea81] 12/12/2017 19:56

All those so-called traders on here waiting for this share to drop to 400p so they can trade to get Xmas money will be disappointed with this rise. I guess they will be having beans and toast for Xmas!

[callmebwana] 12/12/2017 19:04

NY Boy, that is old news now !!Bit slow of the mark old chap? Be nice to see £5 Broken
Through soon. It has been well worth the wait.
I see Lodge,Fuggi and Mr 5% are all missing today. Good luck to them all anyway.
GLA, LTH's

[ny boy] 12/12/2017 17:30

Sorry I only just read this from yesterday, did you guys pick up on it?

Shares in Petrofac Limited (LON:PFC) edged higher on Monday following weekend reports that the oil services contractor is preparing a potential sale of its North Sea business as it aims to reduce its debt pile.

It has hired consultancy Bain & Co to explore the company’s options, according to a report in The Times,

[cybernest53] 12/12/2017 17:10

Bouleversee... You're very welcome! Killman's post is reminiscent of those Nigerian scams! "Join the Cryptocurrency Revolution and get Free...ish Money." LOL :)

While I agree generally that there are better things to do with our money than jumping on the wild crypto bandwagon, there are some opportunities to invest wisely in the "Cryptocurrency Revolution". One such share is BLU which is very interestingly poised and one of their investments, SatoshiPay, a company that offers processes micropayment transactions using Stellar Lumens, a crypto currency arguably better than bitcoins, is about to relaunch in London tonight actually. Well worth a look!

But back to PFC... a very interesting and welcome contract win today which, as others have said, shows the company is still able to attract the confidence of important, respected players in the sector, as BP is. Bodes well and very pleasing to see our continued belief in PFC's fundamentals being very sound... and hugely under valued!

Let's see what the rest of the week produces! ;)

[bouleversee] 12/12/2017 16:48

Cybernest - Hear, hear! And I wouldn't touch crypto with a bargepole, anyway.

Thanks for posting the RNS.