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| 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 | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| -0.28 | -2.53% | 10.80 | 914,857 | 16:35:01 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 10.50 | 11.00 | 11.00 | 10.55 | 10.90 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Oil & Gas Field Services,nec | USD 2.5B | USD -505M | USD -0.9612 | -0.11 | 58.21M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:35:01 | UT | 24,268 | 10.80 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 18/11/2024 | 07:00 | EQS | PETROFAC EXTENDS FORBEARANCE AGREEMENT |
| 21/10/2024 | 06:00 | EQS | Petrofac Limited: PETROFAC EXTENDS FORBEARANCE AGREEMENT |
| 02/10/2024 | 11:04 | EQS | Petrofac Limited: Director/PDMR shareholding |
| 30/9/2024 | 06:00 | EQS | PETROFAC LIMITED: RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2024 |
| 27/9/2024 | 16:50 | EQS | PETROFAC ANNOUNCES IN-PRINCIPLE AGREEMENT ON FINANCIAL RESTRUCTURE |
| 23/9/2024 | 11:55 | EQS | Petrofac Limited: RESULTS OF ANNUAL GENERAL MEETING |
| 23/9/2024 | 06:00 | EQS | Petrofac Limited: PETROFAC EXTENDS FORBEARANCE AGREEMENT |
| 02/9/2024 | 09:56 | EQS | Petrofac Limited: Block Listing Six Monthly Return |
| 30/8/2024 | 15:46 | EQS | Petrofac Limited: Publication of 2023 Annual Report and Notice of the 2024.. |
| 23/8/2024 | 06:00 | EQS | Petrofac Limited: PETROFAC EXTENDS FORBEARANCE AGREEMENT |
Petrofac (PFC) Share Charts1 Year Petrofac Chart |
|
1 Month Petrofac Chart |
Intraday Petrofac Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 09/12/2024 | 22:30 | Petrofac | 41,256 |
| 01/11/2024 | 15:52 | Petrofac | 4 |
| 25/7/2024 | 15:01 | Police hotline 👮🏽♂️ | 3 |
| 24/6/2024 | 07:11 | *** Petrofac *** | 248 |
| 10/6/2024 | 12:00 | Any targets | 12 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 16:35:01 | 10.80 | 24,268 | 2,620.94 | UT |
| 16:29:57 | 11.00 | 14,545 | 1,599.95 | AT |
| 16:29:57 | 11.00 | 4,902 | 539.22 | AT |
| 16:29:57 | 10.92 | 400 | 43.68 | AT |
| 16:29:57 | 10.89 | 8,394 | 914.11 | AT |
| Top Posts |
|---|
Posted at 13/12/2024 08:20 by Petrofac Daily Update Petrofac Limited is listed in the Oil & Gas Field Services,nec sector of the London Stock Exchange with ticker PFC. The last closing price for Petrofac was 11.08p.Petrofac currently has 525,373,758 shares in issue. The market capitalisation of Petrofac is £57,791,113. Petrofac has a price to earnings ratio (PE ratio) of -0.11. This morning PFC shares opened at 10.90p |
Posted at 07/11/2024 12:11 by dealy The share price drop in Wood Group today would give the impression that it is going the same way as Petrofac. |
Posted at 30/9/2024 08:34 by jaknife I'm amazed that the share price hasn't dropped further. I still have 4p pencilled in for the placing price and the price at which the D4E will be done. |
Posted at 30/9/2024 08:15 by warranty It seems pretty irrelevant what the rights issue shares are priced at, this current share price has for a long time known a DforE was happening but the good news is that current small shareholders will have the opportunity to take part. Once that sorted I don’t see any reason given the contracts available to them that the PFC share price shouldn’t very quickly recover. |
Posted at 13/9/2024 10:38 by armbar Bond prices creeping up 23.50What do the 47% wall crossed know to accept the forbearance AGM the following working day after forbearance expires next Friday , maybe to vote on something ? Potential bidders or JV, takeover adnoc my favourite imo but maybe one of many circling , bonds repurchased at a deep discount probably negotiated when at 15 looks a good deal back then , and equity too based on last year share price 80+ now 16p8bn backlog transformational year plus Tenet contract , In country value Uae , Ayman founder leaves the building saying thank you , for making his fortune worthless, Not sure about that What price ? 300M 60p that will be a bargain , plus bonds at discount all worked for the friendly for some but in reality hostile approach if correct. Offer plus stock more likely would make Ayman and co more amenable imo , that is the way the game is played sometimes, PFC value accretive to many, question is who is interested ? All just speculation and my opinion , probably had to wait for Thai Oil resolution, PM304 $60-70M +sale , JSD6000 10% $20M, before committingcould be totally off the mark maybe they are going bankrupt or as many said D4E 4p ... but an alternate view above ... Bond 52 week high 74 v 23 , share price 80p v 16pCheap as chips for the right someone GL |
Posted at 29/8/2024 11:56 by halfpenny OH! Dear!! looks like poor Deal Ahead as huge Dilution will be a disaster especially at a 4p share price.PFC Down Oil/Gas Down Contracts Down Revenue Down Staff Moral Down Orders Down. Answer on a postcard!! Wonder Where the Share Price is Going??? How Low How Soon?? PETROFAC EXTENDS FORBEARANCE AGREEMENT Petrofac confirms it has extended its existing forbearance agreement in respect of the non-payment of the interest coupon on its senior secured notes from 23 August to 20 September 2024. TIC TOC TIC TOC THE END GETS CLOSER!! |
Posted at 28/7/2024 12:49 by mirabeau Petrofac Share Price Soars, Shorts Scramble to Cover PositionsBy Bryan Hardy / July 28, 2024 Embattled oil services firm Petrofac’s rapid surge in share price on Friday, up more than 70%, has added pressure on shorts to close their positions, with markets set to watch the opening on Monday for signs of a renewed squeeze. The stock has been one of the most shorted on the London Stock Exchange (LSE) but shorts are now in retreat with total positions now falling below 10%. Positive news regarding the company’s contractual and financial positions late on Friday spurred a a rapid increase within the last 30 minutes of trading. The stock closed at 22 pence as a result, a remarkable rise from the 12.6 pence near the start of the day. Contractual Relief and New Agreement Petrofac announced on Friday that it had reached an alternative agreement with a key Engineering, Procurement, and Construction (EPC) customer, pertaining to performance guarantee requirements, effectively curing a default notice received from the customer. The default notice had necessitated a performance guarantee to be posted by June 16, 2024, as stated in Petrofac’s 2023 accounts. Impact on Short Positions Petrofac stock has been heavily shorted throughout the month, following the delisting of shares from the London Stock Exchange, however Friday’s rally will have forced several short sellers to reconsider their positions, adding further upward pressure on the price. With the share price threatening serious losses for remaining short positions, Monday’s trading is expected to see a scramble among short sellers to close out their positions, potentially driving the price even higher. While further challenges lie ahead for the firm’s strategic outlook, the latest resolution clearly instilled confidence in investors about Petrofac’s ability to navigate its contractual obligations successfully, signalling support for ongoing operational activities and potential future revenue streams. Extension of Forbearance Agreement Petrofac has now extended its existing forbearance agreement concerning the non-payment of interest on its senior secured notes. Originally set to expire on July 25, 2024, the forbearance has now been extended to August 23, 2024. This agreement involves an ad hoc group of noteholders representing approximately 47% of the outstanding senior secured notes, along with certain other noteholders. The extension provides Petrofac with crucial breathing room to advance its financial restructuring efforts without the immediate threat of noteholder action. This assurance is pivotal for the company’s ongoing efforts to stabilize its financial position and negotiate better terms for its obligations. Petrofac’s recent developments point to a more stabilized outlook for the company. The resolution of the performance guarantee issue and the extension of the forbearance agreement are crucial steps in mitigating immediate risks and providing a clearer path forward for financial restructuring. Investors will be keenly watching Monday’s trading as the stock reacts to these positive signals and the potential further covering of short positions. The combination of contractual relief, financial restructuring progress, and the resultant short squeeze creates a strong upside potential for Petrofac’s share price. As the company continues to address its challenges head-on, the market sentiment may shift positively, reflecting growing confidence in Petrofac’s turnaround efforts |
Posted at 27/7/2024 10:27 by throgmortonstreet The point is, all unpaid debts and loans still have to be paid back to avoid PFC defaulting and becoming insolvent.The rising share price is, quite frankly absurd, given the financial crisis that PFC finds itself in. PFC shares are only suitable for high risk gamblers, willing to lose all their capital. A massive debt for equity swap could be needed. |
Posted at 10/6/2024 06:38 by midasx By Daniel Hill / June 7, 2024Leading oilfield services provider Petrofac has seen a significant surge in its share price today, up over 21%, driven by an uptick in investor confidence, as rumours of a takeover mount. Industry insiders suggest that a substantial offer is on the horizon, with a prospective price of around £1 per share, as several major players are believed to be in the running for acquiring Petrofac. Among the contender are Schlumberger and Halliburton, both of which are global giants in the oilfield services industry. Acquiring Petrofac could strategically enhance their service portfolios and expand their market reach. The news comes as Petrofac is reportedly close to agreement with noteholders, marking a significant milestone for the company as it seeks to stabilise finances and double down on growth, following a rollercoaster year. The firm recently published its accounts for 2023 and confirmed a net debt of US$583 million, with losses for the year totalling US$506 million. However, the company’s revenues remained relatively steady, coming in at US$2.49 billion. While the accounts included a going concern warning, highlighting the company’s previously precarious financial situation, Petrofac’s recent agreement with noteholders has begun to solidify its financial footing. The company, which was in default of interest under the terms of its senior secured notes, has now entered into a forbearance agreement with an ad hoc group of noteholders. This group, which represents approximately 41% of the outstanding senior secured notes, has agreed not to take enforcement action in respect of the non-payment of the coupon until at least 30 June. Petrofac’s projections for the future are promising, with the company expecting to maintain liquidity at or above its covenant level until at least the end of September 2024. This, coupled with the company’s steady revenues and the positive impact of the new agreement, paints an optimistic picture for investors. Building on this potential suitors are now reported to be circling, with TechnipFMC, a leader in subsea, onshore/offshore, and surface projects, also in the running, with interest in Petrofac’s engineering and construction services highly complementary to its existing operations. National oil companies such as Saudi Aramco and ADNOC (Abu Dhabi National Oil Company) are also speculated to be eyeing Petrofac. These state-owned enterprises have been actively expanding their oilfield service capabilities and could see significant synergies with Petrofac’s expertise. Private equity firms, including Carlyle Group and Blackstone Group, are known for their substantial investments in the energy sector and might view Petrofac as a valuable addition to their portfolios. Their interest could drive the competitive nature of the bid process, potentially leading to a premium offer. Additionally, international conglomerates such as Mitsubishi Corporation and Siemens Energy have been mentioned as possible bidders. Their diversified interests and strategic goals in the energy sector make Petrofac an attractive acquisition target. Regional competitors like Wood Group and Lamprell might also be considering a strategic takeover to consolidate market share and enhance their service offerings. While the exact details of the potential bid remain undisclosed, the surge in Petrofac’s share price reflects growing optimism and anticipation among investors. The coming days will be crucial as the market awaits further developments and official announcements. For now, Petrofac continues to be a focal point in the oilfield services sector, with its future potentially reshaped by this significant takeover speculation. |
Posted at 08/6/2024 22:08 by armbar Just a thought 1. Pre suspension remember the speeding ticket when it hit 34 , no reason just repeated the previous information and seemed to be to halt the rising share price for some reason.2. Then PFC announce suspension info share price drops significantly as they announce the financial options 3. Announce restoration and share price exceeds 120% and over 80M shares traded , short remain unchangedNow think about point 1 TO, MBO, Lowball , imo ME hands GL |
Posted at 10/5/2024 07:41 by pogue Jaknifeas promised a more detailed explanation of why I believe tighter management wont work at PFC. I have not got the time I am afraid to cover this in as much detail as I wanted time is very short at the moment. Basically tighter management will cause even more costs and problems I believe. I have seen management on large projects before crack down on manhours, manhours is what contractors sell, and by doing so they try to rush a project. This has the knock on effect of wasting time producing poor documentation which begats even more as other engineers use that information to do their part of the project. Its like building a house with bad foundations. A project will take the time it needs if you rush it all you do is bury problems which emerge later much bigger and costly to fix when time is short. PFC have 2 added problems. They have I am pretty certain underbid for the contracts as they needed to win them to bolster their share price and balance sheet. That means they are starting behind already and profits will be slim even if they execute properly which is unlikely as I said projects will take the time they will take, they are non linear as the design progresses things change and rework is needed and if you are short of manhours to start it all gets very tricky. I am pretty sure this is part of the reason they are in the trouble they are in i.e. taking on work cheaper than other contractors, as I said before very few contractors will bid for ADNOC projects as their demands are too difficult to meet for the price they want to pay. Second problems is their main design office for the Middle East is in Sharja and is mainly populated by Indian national engineers. In my experience of working with departments of Indian engineers is that their culture in engineering is very odd, they hide problems to the point of blatantly lying about anything. I have seen 2 projects I have been on suffer badly from this, one where I was in charge of them. I now avoid any role where I have to be in charge of Indian based departments. You can see how this would compound issues when trying to manage tightly any work force. To do it you would need more engineers to check everything pushing up costs. Again, a reason I see why PFC have suffered in the past with back charges from the clients. As for selling PFC’s main asset if you want to call it that is their pipeline of projects without that they are just offices with one or two engineers as when there is no work engineers are fired in this industry literally to the point where work forces can go from 1000s to 100s and all experienced engineers leave as fast as they can leaving the inexperienced and useless ones behind. So as the pipeline of projects I suggest are mainly underbid and some with ADNOC who very few want to work with why buy the company? Why not let it fall and wait for the contracts you want to goto rebid? The industry is very busy just now I get calls every couple of days about jobs. The price would have to be very low for someone to want PFC. All in my opinion, I don’t hold, DYOR. |
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