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petro-king oilfield svcs ltd (2178) Details

Petro-king Oilfield Services Limited, an investment holding company, provides oilfield technology and oilfield services for oil and gas companies. Its services primarily include technical consultation, project management, well drilling, completion, stimulation, production, surface equipment, and testing equipment in oilfield. The company’s oilfield project services comprise oilfield development plan, procurement advice, and installation of tools and equipment; and on-site project management services principally for drilling, well completion, and production enhancement. Its consultancy services include integrated project management services, such as engineering and designing overall development plan for an oilfield project; assisting and providing advice on sourcing; oilfield project management services in different technical areas, including drilling, well completion, downhole operation, oilfield equipment installation, and production enhancement; and providing on-site operational management, supervision, support, and advice. The company also provides supervisory services, which include management, supervision, and technical support in specific technical areas in various stages of the oilfield project. In addition, it is involved in the manufacture and trading of tools and equipment; manufacture and repair of oilfield and gasfield machinery and equipment; sales and lease of equipment; and provision of drilling and well completion services. The company provides its products and services in China, the Middle East, the Russian Federation, Australia, South America, Singapore, Indonesia, Taiwan, Kazakhstan, Turkmenistan, the Republic of Trinidad and Tobago, and the Gabonese Republic. The company was formerly known as Termbray Petro-king Oilfield Services Limited and changed its name to Petro-king Oilfield Services Limited in May 2014. Petro-king Oilfield Services Limited was founded in 2002 and is headquartered in Shenzhen, China.

989 Employees
Last Reported Date: 04/23/15
Founded in 2002

petro-king oilfield svcs ltd (2178) Top Compensated Officers

Chairman, Chief Executive Officer, Chairman o...
Total Annual Compensation: $1.5M
Vice President and Executive Director
Total Annual Compensation: $853.7K
Compensation as of Fiscal Year 2014.

petro-king oilfield svcs ltd (2178) Key Developments

Petro-King Oilfield Services Limited Provides Earnings Guidance for the Six Months Ending June 30, 2015

The board of directors of Petro-king Oilfield Services Limited announced that based on the preliminary assessment of the Group's unaudited consolidated management accounts for the five months ended May 31, 2015 and the confirmed orders, shipment and service contracts for the month ending June 30, 2015, the Group is expected to record higher revenue for the six months ending June 30, 2015 as compared to the corresponding period last year. However, the Group's operating expenses and finance costs are expected to increase significantly in first half of 2015 primarily due to increase in depreciation of equipment, interest expenses and the one-off finance costs incurred in connection with the issuance of convertible bonds in March 2015. As such, the Group is expected to record a significant decrease in net profit in first half of 2015 as compared to the corresponding period last year.

Petro-king Oilfield Services Limited, Annual General Meeting, Jun 05, 2015

Petro-king Oilfield Services Limited, Annual General Meeting, Jun 05, 2015., at 15:00 China Standard Time. Location: Regus Business Centre, 35/F, Central Plaza. Agenda: To receive and consider the audited consolidated financial statements and the reports of the directors and auditor of the company for the financial year ended 31 December 2014; to consider re-election of directors; to authorise the board of directors of the company to fix the remuneration of the directors of the company; to re-appoint PricewaterhouseCoopers as auditor of the company and to authorise the board of directors of the company to fix its remuneration; to grant a general mandate to the directors of the company to allot, issue and deal with new shares of the company; to grant a general mandate to the directors of the company to repurchase the company's own shares; and to extend the general mandate by adding thereto the shares repurchased.

Petro-King Oilfield Services Limited Reports Audited Consolidated Cash Flow Results for the Year Ended December 31, 2014

Petro-king Oilfield Services Limited reported audited consolidated cash flow results for the year ended December 31, 2014. For the year, the company reported Net cash used in operating activities of HKD 85,247,993 against HKD 358,370,225 a year ago. Purchases of property, plant and equipment were HKD 531,671,352 against HKD 140,962,375 a year ago.

 

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