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 signed two Share Purchase Agreements with MISC Berhad, involving the acquisition of MISC's equity interest in FPSO Espirito Santo in Brazil and the divestment of SBM's stake in FPSO Kikeh in Malaysia. This strategic move aims to streamline SBM's operating portfolio. The agreements are subject to conditions and regulatory approvals. SBM Offshore specializes in designing, building, installing, and operating offshore floating facilities for the energy industry, focusing on responsible energy transition and cleaner solutions. The company employs over 7,400 people worldwide and is committed to delivering sustainable and affordable energy from the oceans.
SBM Offshore (SBFFF) reported details of its EUR130 million share repurchase program for August 29 to September 4, 2024. The program, initially announced on February 29, 2024, for EUR65 million and increased by EUR65 million on August 8, 2024, aims to reduce share capital and provide shares for employee programs. As of September 4, 2024, the company has:
- Repurchased 3,130,934 shares
- Spent EUR 45,540,197
- Achieved an average repurchase price of EUR 14.55
- Completed 35.03% of the program
In the last 5 trading days, SBM Offshore repurchased 181,859 shares at an average price of EUR 16.82, totaling EUR 3,058,211. All shares were purchased via Euronext Amsterdam, CBOE DXE, and Turquoise.
SBM Offshore (SBFFF) has reported details of its EUR130 million share repurchase program for the period August 22-28, 2024. This program, initially announced on February 29, 2024, for EUR65 million and later increased by another EUR65 million on August 8, 2024, aims to reduce share capital and provide shares for employee programs. As of August 28, 2024, the company has repurchased 2,949,075 shares at an average price of EUR14.41, completing 32.68% of the program. In the last five trading days, SBM Offshore repurchased 142,764 shares at an average price of EUR16.81. The company designs, builds, and operates offshore floating facilities for the energy industry, focusing on reducing emissions from fossil fuel production and developing cleaner energy solutions.
SBM Offshore (SBFFF) reports progress on its EUR130 million share repurchase program for August 15-21, 2024. The program, initially announced on February 29, 2024, for EUR65 million and doubled on August 8, 2024, aims to reduce share capital and provide shares for employee programs. As of August 21, 2024:
- 30.83% of the program completed
- EUR40,082,714 cumulative repurchase amount
- 2,806,311 shares repurchased
- EUR14.28 average repurchase price
In the last 5 trading days, 105,609 shares were repurchased at an average price of EUR16.67. All purchases were made via Euronext Amsterdam, CBOE DXE, and Turquoise.
SBM Offshore (SBFFF) reported details of its EUR130 million (c. US$140 million) share repurchase program for August 8-14, 2024. The program, announced on February 29 and expanded on August 8, aims to reduce share capital and provide shares for employee programs. As of August 14, 29.48% of the program was completed, with a cumulative repurchase of EUR 38,322,143 for 2,700,702 shares at an average price of EUR 14.19. In the last 5 trading days, 50,107 shares were repurchased at an average price of EUR 16.37. The company continues to update investors on the program's progress through its website.
SBM Offshore has doubled its share repurchase program, adding an additional EUR65 million (c. US$71 million) to the existing EUR65 million program. The original Structural Buyback, aimed at reducing share capital, has already completed 58% (EUR37.5 million) since March 1, 2024. The new Incremental Buyback, effective August 8, 2024, will reduce share capital and provide shares for employee programs. It's expected to complete by April 2025. Both programs operate under safe harbor provisions, allowing transactions during closed periods. SBM Offshore, a leader in offshore floating facilities, employs over 7,400 people globally, focusing on responsible energy transition and cleaner energy solutions.
SBM Offshore has secured a contract with Woodside for the Trion deepwater oil field development in the Gulf of Mexico. The company will construct and lease a Floating Storage and Offloading (FSO) unit for 20 years. This complements SBM Offshore's previous Transportation & Installation contract for the FSO and FPU awarded in 2023.
The new FSO will be based on a Suezmax-type hull with a Disconnectable Turret Mooring system. It will operate in 2,500 meters water depth and store about 950,000 barrels of crude oil. The Trion field is located 180 km off the Mexican coast and is a joint venture between Woodside (60%) and PEMEX Exploración y Producción (40%).
SBM Offshore increased its 2024 Directional EBITDA guidance to around US$1.3 billion and revenue guidance to above US$3.8 billion. The company saw a 23% rise in Directional revenue to US$1,840 million for 1H 2024. EBITDA also grew by 36% to US$620 million.
The pro-forma Directional backlog rose by US$3.4 billion to a record US$33.7 billion. Additionally, SBM Offshore announced a EUR65 million share repurchase program and signed a 20-year lease & operate contract for an FSO related to the Trion field development in Mexico.
SBM Offshore (SBFFF) has reported details of its EUR65 million share repurchase program for the period August 1-7, 2024. The program, announced on February 29, 2024, aims to reduce share capital. As of August 7, 57.70% of the program has been completed, with a cumulative repurchase amount of EUR37,501,830 for 2,650,595 shares at an average price of EUR14.15. In the last five trading days, 118,067 shares were repurchased at an average price of EUR14.22, totaling EUR1,678,994. The company designs, builds, and operates offshore floating facilities for the energy industry, focusing on reducing emissions from fossil fuel production and developing cleaner energy solutions.
SBM Offshore (SBFFF) has reported transaction details for its EUR65 million share repurchase program for the period July 25-31, 2024. The program, announced on February 29, 2024, aims to reduce share capital. As of July 31, 2024:
- 55.11% of the program has been completed
- EUR 35,822,836 cumulative repurchase amount
- 2,532,528 shares repurchased
- EUR 14.15 average repurchase price
In the last 5 trading days, 72,033 shares were repurchased at an average price of EUR 14.74. The company's strategy focuses on offshore floating facilities for the energy industry, emphasizing responsible energy transition and emission reduction.