Golar LNG Stock Price, News & Analysis

Golar LNG reported total operating revenues of $106.6 million and an Adjusted EBITDA of $74.5 million for Q3 2021, reflecting a 12% and 30% year-over-year increase, respectively. A net loss attributed to Golar reached $91.0 million. The FLNG Hilli maintained 100% commercial uptime, with increased earnings projected due to favorable LNG prices. Golar secured $682 million in new financing, improving liquidity. Future prospects include a significant earnings backlog from FLNG Gimi, with expected Adjusted EBITDA generation to quadruple in the next 2-3 years.

Golar LNG will announce its 3rd Quarter 2021 results prior to the NASDAQ opening on November 9, 2021. A webcast presentation is scheduled for 3:00 PM London Time on the same day, accessible through the company’s Investor Relations page. Participants are encouraged to join via the live link, with guidance provided for the Q&A session afterward. Dial-in information is available for those wishing to ask questions. Replay options will be available post-event for seven days.

Golar LNG announced it has hedged part of its TTF price exposure for Q1 2022, anticipating $21.2 million in net income from an incremental 0.2 MTPA production at $28/MMBtu. A change of $1/MMBtu in TTF affects net income by $0.4 million. Additionally, the company expects $15.5 million in net income from Brent-linked production, assuming oil prices at $83/bbl. Golar secured a one-year charter generating approximately $36.5 million in revenue, supported by increasing LNG freight rates due to demand and new regulations.

Golar LNG Limited announced the successful placement of USD 300 million in senior unsecured bonds in the Nordic market. The bonds, with a maturity in October 2025 and a 7.00% annual interest rate, will refinance existing convertible bonds due February 2022 and support general corporate purposes. An application will be submitted to list the bonds on the Oslo Stock Exchange. The bond issuance was coordinated by DNB Markets and Pareto Securities, with Danske Bank and Nordea Bank as joint lead managers.

Golar LNG Limited has engaged DNB Markets and Pareto Securities as Global Coordinators for a potential USD 4-year senior unsecured bond issue, pending market conditions. Proceeds will refinance maturing convertible bonds and support general corporate purposes. The company has also secured terms for two new bank financing facilities: a $200 million Revolving Credit Facility to replace a $100 million facility, and a $182 million refinancing facility for the Golar Tundra. Both facilities are subject to final documentation and will lower the interest rates significantly.

Golar LNG Limited held its 2021 Annual General Meeting on August 10, 2021, in Hamilton, Bermuda. Key highlights included the presentation of audited financial statements for the year ended December 31, 2020. Resolutions passed at the meeting featured the re-election of directors Tor Olav Trøim, Daniel Rabun, Thorleif Egeli, Carl Steen, Niels G. Stolt-Nielsen, Lori Wheeler-Naess, and Georgina E. Sousa. Additionally, Ernst & Young LLP was re-appointed as auditors, and the Board's remuneration was approved at a maximum of US$1,750,000 for 2021.

Golar LNG reported a record net income of $471.4 million for Q2 2021, driven by the successful sale of Hygo Energy and Golar Partners to New Fortress Energy at a significant gain. The company recorded an Adjusted EBITDA of $67 million, maintaining 100% uptime for Hilli, which now has increased capacity utilization. The FLNG Hilli's operational cash flows are expected to rise with Brent crude prices. Golar's debt was reduced by $102 million, enhancing liquidity. Overall, Golar anticipates substantial cash generation improvement due to favorable LNG market conditions.

Golar LNG will announce its 2nd Quarter 2021 results before NASDAQ opens on August 9, 2021. A webcast presentation is scheduled for 3:00 P.M. (London Time) the same day, accessible through the Golar LNG website. Participants may join via a live webcast or teleconference. The Q&A will follow the presentation, limited to two questions per participant. Replay information will be provided for those unable to attend.

Golar LNG Limited has reached an agreement with Perenco Cameroon and Société Nationale des Hydrocarbures to enhance the capacity utilization of the FLNG Hilli Episeyo. Starting in 2022, this will add 200,000 tons of LNG, totaling 1.4 million tons for the year. The capacity increase could yield an additional US$26.1 million in Adjusted EBITDA, contingent on European gas prices. Additionally, there's potential for a further 400,000 tons of capacity from January 2023, which may generate an expected US$30.4 million.

Golar retains an 86.9% interest in the incremental EBITDA generated.