Welcome to our dedicated page for Sbm Offshore news (Ticker: SBFFY), a resource for investors and traders seeking the latest updates and insights on Sbm Offshore stock.
SBM Offshore N.V. (SBFFY) is described by the company as the world’s deepwater ocean‑infrastructure expert, focused on the design, construction, installation, and operation of offshore floating facilities for energy production. The news flow around SBM Offshore reflects both its operational activities in deepwater offshore environments and its capital management decisions.
Recent press releases provide detailed weekly updates on a EUR 141,189,019 share repurchase program. These updates summarize cumulative repurchase amounts, quantities repurchased, average repurchase prices, and the percentage of the program completed. They also specify that shares are being repurchased via Euronext Amsterdam, CBOE DXE and/or Turquoise. For investors, these disclosures offer insight into how SBM Offshore manages its share capital and supports management and employee share programs.
Operationally focused news includes announcements such as the contract extension for the lease and operation of FPSOs Mondo and Saxi Batuque with Esso Exploration Angola (Block 15) Limited, an affiliate of ExxonMobil. SBM Offshore notes that this extension secures ownership and operations until 2032 and involves life‑extension activities for equipment replacement and refurbishment, highlighting its capabilities in deepwater asset operation and complex offshore brownfield work.
Another example is the confirmation of the completion of a Share Purchase Agreement with GEPetrol for the full divestment of SBM Offshore’s equity interest in the lease and operating entities of the FPSO Aseng. The company links this transaction to its strategy to rationalize its Lease & Operate portfolio. Together, these items show that SBM Offshore’s news typically covers share repurchase activity, portfolio adjustments in leased and operated offshore units, and long‑term contracts for deepwater floating production systems.
Investors and observers can use the SBFFY news feed to follow these developments, track the progress of the share repurchase program, and monitor how SBM Offshore describes its role in the energy transition and blue economy through its public announcements.
SBM Offshore (SBFFF) has provided an update on its EUR130 million (c. US$140 million) share repurchase program. From December 5-11, 2024, the company repurchased 194,012 shares at an average price of EUR16.92, totaling EUR3,283,433. The program, initially announced on February 29, 2024, for EUR65 million and increased by another EUR65 million on August 8, 2024, aims to reduce share capital and provide shares for employee programs.
As of December 11, 2024, the company has completed 65.66% of the program, having repurchased 5,501,274 shares at an average price of EUR15.52, for a cumulative amount of EUR85,361,601.
SBM Offshore has announced the publication of its Extraordinary General Meeting (EGM) agenda and shareholder invitation. The EGM will be held at the Sheraton Amsterdam Airport Hotel on January 17, 2025 at 3:30 PM CET.
The company, which specializes in deepwater ocean-infrastructure, employs over 7,400 people globally and focuses on delivering cleaner energy production solutions while expanding into new blue economy markets. Their work involves the design, construction, installation, and operation of offshore floating facilities.
SBM Offshore has reported details of its EUR130 million (US$140 million) share repurchase program for November 28-December 4, 2024. The program, initially announced at EUR65 million and later doubled, aims to reduce share capital and provide shares for employee programs.
As of December 4, 2024, the company has completed 63.14% of the program, repurchasing 5,307,262 shares at an average price of EUR15.47, totaling EUR82,078,168. In the last five trading days, 180,131 shares were repurchased at an average price of EUR17.02, amounting to EUR3,065,445.
SBM Offshore reports progress on its EUR130 million share repurchase program from November 21-27, 2024. The program, initially announced at EUR65 million and later doubled, aims to reduce share capital and provide shares for employee programs. As of November 27, 60.78% of the program is complete, with 5,127,131 shares repurchased at an average price of EUR15.41. The latest week saw 154,535 shares purchased at an average price of EUR17.44, totaling EUR2,695,030.
SBM Offshore has successfully completed a US$1.5 billion project financing for FPSO Jaguar, secured by 16 international financial institutions. The FPSO Jaguar, based on SBM's Fast4Ward® program, will have a production capacity of 250,000 barrels of oil per day, gas treatment capacity of 540 million cubic feet per day, and water injection capacity of 300,000 barrels per day. The vessel will operate in the Whiptail development within the Stabroek block offshore Guyana, with storage capacity of 2 million barrels of crude oil. This marks the company's first project under the sale and operate model.
SBM Offshore has reported details of its EUR130 million (c. US$140 million) share repurchase program for November 14-20, 2024. The program, initially announced at EUR65 million and later doubled, aims to reduce share capital and provide shares for employee programs. As of November 20, 2024, the company has completed 58.71% of the program, repurchasing 4,972,596 shares at an average price of EUR15.35, totaling EUR76,317,693. In the last five trading days, 123,956 shares were repurchased at an average price of EUR17.69, amounting to EUR2,193,205.
SBM Offshore has announced the nomination of two new Supervisory Board members: Lucia de Andrade, currently Senior VP Deepwater Project at Shell, and Denise Dettingmeijer, CFO at Medical Solutions. The appointments will be confirmed at an upcoming Extraordinary General Meeting. Hilary Mercer will step down from the Supervisory Board on January 1, 2025, due to commitments in her role as Executive VP Projects & Engineering at Shell. The nominations aim to bring valuable experience in deepwater development and financial expertise to the board.
SBM Offshore has been awarded contracts for the GranMorgu field development project in Suriname's Block 58 by TotalEnergies. In partnership with Technip Energies, SBM Offshore will construct and install a Floating Production, Storage and Offloading vessel (FPSO) with a production capacity of 220,000 barrels of oil per day and gas treatment capacity of 500 million cubic feet per day. The FPSO will be deployed in 400 meters water depth, capable of storing 2 million barrels of crude oil. The all-electric drive vessel is designed to eliminate routine flaring, with first oil expected in 2028.
SBM Offshore has significantly increased its 2024 guidance following major developments. The company's Directional EBITDA guidance was raised by 46% to around US$1.9 billion, while revenue guidance increased by 58% to above US$6.0 billion. Key highlights include the sale of FPSO Prosperity to ExxonMobil Guyana, the expected sale of FPSO Liza Destiny by year-end, and TotalEnergies' contract award for an FPSO in Suriname. The company's YTD Directional revenue reached US$2,838 million, up 26% year-over-year, with both Lease and Operate and Turnkey segments showing strong growth.
SBM Offshore reports progress on its EUR130 million share repurchase program for November 7-13, 2024. The program, initially launched at EUR65 million and later doubled, aims to reduce share capital and provide shares for employee programs. As of November 13, 2024, the company has repurchased 4,848,640 shares at an average price of EUR15.29, completing 57.02% of the program with EUR74,124,488 spent. In the last five trading days, 101,647 shares were repurchased at an average price of EUR17.58, totaling EUR1,787,022.