Increased oil prices have Prosafe taking a brighter view of the future
Elevated oil prices will lead to multi-year surges in the investments of the oil and gas industry, forecasts hotel rig firm Prosafe, which books a positive operating result for the year’s first quarter in the wake of increased activity.
by DAG HOLMSTAD
Prospects for the offshore market are looking much more positive than they have for a long time, says Prosafe, which bagged positive earnings before interest, taxes, depreciations and amortizations (EBITDA) of USD 4.8m in the first quarter of the year compared to a loss of USD 10.1 in the same period last year.
Already a subscriber?Log in here
Read the whole article
Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
With your free trial you get:
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers
Start a free company trial todayRelated articles:
Prosafe reports best fleet utilization in Q1 since 2015
For subscribers
Prosafe ends year in recovery prompted by crisis plan
For subscribers
