Prosafe SE : Prosafe SE: Operational update for Q1 2013 Rig utilisation in the first quarter of 2013 was 74.4 per cent. Safe Concordia, Safe Lancia, Jasminia, Safe Hibernia, Safe Britannia and Safe Regency have been on contract throughout the first quarter. Safe Bristolia was on bareboat day rate throughout the quarter, including when mobilising from Mexico to the North Sea. The vessel is scheduled to commence a contract for Elf Exploration UK in early May. About USD 2.5 million of expenses related to preparation for the contract in the UK has been incurred in the first quarter. Safe Bristolia is currently at CCB yard in Bergen, Norway. Safe Concordia is operating on a long-term contract in Brazil. In the first quarter of 2013 the average effective day rate was approximately USD 141,000. Safe Caledonia commenced the contract with BP at Andrew in the UK on 2 March. Safe Scandinavia was in operation for BP at Valhall in Norway until 1 March. The contract with ConocoPhillips at Jasmine in the UK commenced early April. After completing the work for Woodside in Australia at year-end 2012, Safe Astoria was demobilised at a day rate of USD 120,000 for the first 20 days in January. The total operating cost was about USD 2.6 million in the first quarter. The vessel is currently laid up in Batam, Indonesia. Regalia was off-hire and at the yard undertaking planned maintenance work during the first quarter. Two thrusters were overhauled and the forward crane was replaced during the yard stay. As a consequence, the operating cost has been around six million higher than in normal operation in the first quarter. The vessel is scheduled to commence a contract for Shell at the Draugen field in Norway end April. Prosafe is the world's leading owner and operator of semi-submersible accommodation vessels. Operating profit reached USD 222.4 million in 2012 and net profit was USD 177.5 million. The Company operates globally, employs 550 people and is headquartered in Larnaca, Cyprus. Prosafe is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com Larnaca, 19 April Georgina Georgiou, General Manager Prosafe SE For further information, please contact: Karl Ronny Klungtvedt, Chief Executive Officer Prosafe Management AS Phone: + 47 51 64 25 81 Sven Børre Larsen, Chief Financial Officer Prosafe Management AS Phone: +47 909 43 673 Cecilie Helland Ouff, Finance and IR Manager Prosafe AS Phone: +47 51 64 25 20 This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. ------------------------------------------------------------------------------ This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Prosafe SE via Thomson Reuters ONE HUG#1694503
Prosafe SE : Prosafe SE: Operational update for Q1 2013
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