Sbm Offshore Stock Price, News & Analysis

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.

SBM Offshore reported transaction details for its EUR65 million share repurchase program from July 18-24, 2024. The program, announced on February 29, 2024, aims to reduce share capital. As of July 24, 53.48% of the program was completed, with a cumulative repurchase amount of EUR34,761,379 for 2,460,495 shares at an average price of EUR14.13. In the last 5 trading days, 74,103 shares were repurchased at an average price of EUR14.64, totaling EUR1,084,758. All shares were purchased via Euronext Amsterdam, CBOE DXE, and Turquoise.

SBM Offshore (SBFFF) reports progress on its EUR65 million share repurchase program, which began on March 1, 2024. As of July 17, 2024, the company has repurchased 2,386,392 shares at an average price of EUR14.11, totaling EUR33,676,621 or 51.81% of the program. The program aims to reduce share capital. In the last five trading days, SBM Offshore bought back 97,738 shares at an average price of EUR14.26. All purchases were made via Euronext Amsterdam, CBOE DXE, and Turquoise. The company provides regular updates on the program's progress, adhering to Market Abuse Regulation requirements.

SBM Offshore announced details of its EUR 65 million (approx. US$70 million) share repurchase program for the week of July 4, 2024 to July 10, 2024. The program, initiated on March 1, 2024, aims to reduce share capital. As of July 10, 2024, EUR 32,282,536 worth of shares have been repurchased, totaling 2,288,654 shares at an average price of EUR 14.11. Within the last five trading days, the company repurchased 122,197 shares for EUR 1,728,650 at an average price of EUR 14.15. The repurchases were executed on Euronext Amsterdam, CBOE DXE, and Turquoise. This update complies with the Market Abuse Regulation.

SBM Offshore and Technip Energies announced the formal implementation of Ekwil, a joint venture focused on Floating Offshore Wind (FOW) solutions. Ekwil, owned equally by both companies, aims to provide a diversified range of series production FOW technologies to meet global energy demands. The joint venture will leverage the technologies Semi-submersible INO15 by Technip Energies and Tension Leg Platform Float4Wind by SBM Offshore, aiming for commercial deployment. Ekwil, headquartered in France, will rely on a team of 40 specialists and the extensive resources of both parent companies. Séverine Baudic, formerly with SBM Offshore, will serve as CEO, and Willy Gauttier, from Technip Energies, as COO. This initiative underscores the commitment of both partners to advancing low-carbon solutions and supporting the global net-zero trajectory.