Golar LNG Stock Price, News & Analysis

New Fortress Energy (NFE) has entered into an agreement with Golar LNG Limited (GLNG) to sell its stake in the Hilli floating liquefaction facility, receiving 4.1 million NFE shares and $100 million in cash. This transaction will reduce NFE's outstanding shares to approximately 204.7 million and will also allow NFE to eliminate $323 million in associated debt. The deal aims to enable NFE to concentrate on its fully-owned floating LNG portfolio and repurchase its shares at attractive valuations. The transaction is expected to close in Q1 2023, subject to customary conditions.

Golar LNG is set to report its 4th Quarter 2022 results prior to NASDAQ opening on February 28, 2023. A webcast presentation will occur at 1:00 PM London Time on the same day, available for download through their Investor Relations section. Participants are encouraged to join via the live webcast or attend the teleconference, which requires registration for dial-in details. There will be a Q&A session following the presentation, with a limit of two questions per participant. This event will be relevant for investors seeking insights into the company's performance for the last quarter.

Golar LNG Limited has unwound the majority of its swap arrangements for TTF-linked production on the FLNG Hilli, securing approximately $76 million in Distributable Adjusted EBITDA for March-December 2023. This includes 100% of production unwound at $21.80/MMBtu, yielding a net gain of $28.2/MMBtu. For 2024, Golar expects $49 million in Distributable Adjusted EBITDA, with 50% of production unwound at $20.55/MMBtu. Overall, Golar's secured value from TTF hedges amounts to $140 million, translating to $1.3 cash flow per share. The company's share of expected annual debt service is around $50 million.

Golar LNG Limited has successfully completed a buy-back of its senior unsecured bonds, as announced on December 5, 2022. The Reverse Dutch Auction, which closed on December 9, accepted offers at up to 100% of par value, totaling approximately USD 140 million. Cash settlement for this repurchase is anticipated on December 15, 2022. DNB Markets served as the Manager for the buy-back, contributing to Golar's strategy of optimizing its capital structure.

Golar LNG announces a buy-back offer for parts of its USD 300 million senior unsecured bonds maturing on October 20, 2025. The offer, managed by DNB Markets, will be conducted as a Reverse Dutch Auction, allowing bondholders to submit offers via a provided form until 16:00 CET on December 9, 2022. Golar will announce the highest acceptable buy-back price on December 12, 2022, and cash settlement is set for December 15, 2022. Bondholders may receive cash for accepted offers at or below this price.

Golar LNG Limited reported a net income of $141.1 million and an Adjusted EBITDA of $85.2 million for Q3 2022. The customer for FLNG Hilli opted to exercise a capacity of 0.2 MTPA linked to Dutch Title Transfer Facility (TTF) from 2023 to 2026, with substantial hedging activities for future TTF-linked production. Golar sold shares in Cool Company and New Fortress Energy, raising $430 million. The FLNG Gimi is on track, with 90% construction completion, expected to generate $151 million in annual Adjusted EBITDA upon delivery. Golar's cash position increased to $1.04 billion following share sales.

Golar LNG Limited has sold about 8 million shares in Cool Company Ltd, generating net proceeds of approximately $100 million. Post-sale, Golar retains roughly 4.5 million shares, equating to 8.3% ownership in CoolCo. CEO Karl Fredrik Staubo stated that the sale supports Golar's progress in FLNG growth opportunities. The funds are expected to be deployed for further development, while CoolCo continues to pursue industry consolidation and dividends for its shareholders.

Golar LNG will release its 3rd Quarter 2022 results on November 16, 2022, before NASDAQ opens. A webcast presentation will follow at 1:00 P.M (London Time). Participants can access the presentation through the Investor Relations section of Golar LNG's website. Analysts wishing to ask questions during the subsequent Q&A session should join via conference call. Registration is required for dial-in information. The presentation material will also be available for download. A replay of the event will be accessible for a limited time post-event.

Golar LNG Limited has secured two hedging arrangements for its Dutch Title Transfer Facility (TTF) linked production on the FLNG Hilli. For Q4 2022, Golar has hedged approximately 50% of TTF production at $70.0/MMBtu, anticipating a Distributable Adjusted EBITDA of $56 million. For the full year 2023, the company has hedged 50% of production at an average price of $50.0/MMBtu, projecting a total Distributable Adjusted EBITDA of $150 million. These hedging transactions are expected to enhance cash flow visibility and generate significant free cash flow.