Latest news with #GLNG
Sydney Morning Herald
6 days ago
- Business
- Sydney Morning Herald
Jim Chalmers faces a mission-critical national security test
Santos controls material critical gas infrastructure on the east and west coasts – including vital gas infrastructure supplying the markets on the south-east coast of Australia. Loading First on Santos' critical infrastructure list is the Cooper Basin that houses strategically important assets at Moomba in South Australia which are pivotal to the processing and transport of natural gas and ethane around the east coast of Australia. Next is Santos' stake in Queensland's major LNG project, GLNG, supported by substantial underground storage facilities suitable for natural gas, ethane and carbon dioxide. Plus Santos is a big player in the Western Australian market. Whether to entrust these assets to any foreign government is a big decision. None of this should suggest that this bid by XRG – a subsidiary of Abu Dhabi National Oil Company and including Abu Dhabi Development Holding Company and US-based investment company Carlyle – is doomed to fail. But the fact that Santos' shares have not risen to anywhere near the $8.89 share-offer price reflects both uncertainty and the length of time this deal will take until completion. There is a conga line of other approvals this deal must pass through, including regulators from PNG and Alaska – where Santos also holds significant assets. And everyone with the ability to block this deal will be looking to extract (or legally extort) some advantage. The bidder has already committed to keeping the Santos name and its head office in South Australia. Loading But that might be just the first of many hoops that need to be jumped through. The Australian government could also demand conditions to aid the domestic gas market. 'This is a huge opportunity for Labor to extract domestic gas concessions and remedy their failure to impose [gas] reservation a decade ago,' according to Kavonic. Kavonic also says pressure may be applied by the government to spin out some of Santos' domestic gas assets into a company controlled by Carlyle, which is the privately owned US member of the XRG consortium. The only cohort that won't be playing politics with this deal is the Santos board and shareholders. This company has had the 'for sale' sign plastered on it for so long that it's faded in the sunlight. Plenty of tyre-kickers have come and gone, and experts reckon that the current bidding consortium is the only party left in the auction room. This represents the third overture this year – with the first two being rejected by the board for under-balling on price. The new bid has landed at a price that Santos shareholders haven't seen in more than 10 years, so there is understandable excitement that their ship has finally come in. Shareholders should be very happy with the job the Santos board has done to attract a party willing to bid against itself. It is what investment bank advisers dream about. Now comes the arduous job of cutting deals with regulators that want to extract a few pounds of flesh.
Yahoo
28-05-2025
- Business
- Yahoo
Golar LNG Surpasses Q1 Earnings Estimates, Lags on Revenues
Golar LNG Limited (GLNG) reported mixed first-quarter 2025 results wherein earnings surpassed the Zacks Consensus Estimate but revenues missed the same. Quarterly earnings of 38 cents per share beat the Zacks Consensus Estimate of 29 cents but declined year over year. Revenues of $62.5 million missed the Zacks Consensus Estimate of $66.5 million. The top line declined 3.8% year over year. Golar LNG Limited price-consensus-eps-surprise-chart | Golar LNG Limited Quote In March 2025, GLNG signed finance lease agreements with a consortium of Chinese leasing companies. The sale-leaseback facility is valued at around $1.2 billion. The deal is subject to customary closing conditions, which include the completion of documentation and the receipt of third-party approvals. The facility is anticipated to be completed by the end of the second quarter of 2025. With a tenure of 12 years, the sale and leaseback facility features a 17-year amortization profile, during which quarterly repayment installments will be made throughout the lease period. On the completion and repayment of the existing debt facility, Gimi MS Corporation is anticipated to generate net proceeds of almost $530 million. This amount includes the release of existing interest rate swaps. GLNG is hopeful of gaining 70% of these proceeds, which is equivalent to almost $371 million. Golar LNG has also progressed with a rating process to further evaluate debt optimization alternatives for the vessel during the reported quarter. Adjusted EBITDA of $40.9 million declined 36% year over year. GLNG exited the first quarter of 2025 with cash and cash equivalents of $521.43 million compared with $566.38 million at the end of the prior quarter. GLNG's share of contractual debt at the end of the reported quarter increased 24% to $1.49 billion. GLNG's board of directors approved a first-quarter 2025 dividend of 25 cents per share. The dividend will be paid on or around June 10, 2025, to shareholders of record at the close of business on June 3. As of March 31, 2025, 104.7 million shares are issued and outstanding. Currently, GLNG sports a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Vista Energy S.A.B. de CV's VIST reported first-quarter 2025 adjusted earnings per share of 79 cents, which missed the Zacks Consensus Estimate of 82 cents. However, the bottom line increased from the prior-year quarter's 49 cents. The leading independent oil and gas producer's quarterly revenues of $438 million significantly increased from $317 million in the year-ago period. However, the top line missed the Zacks Consensus Estimate of $457 million. Eni S.p.A E reported first-quarter 2025 adjusted earnings from continuing operations of 92 cents per American Depository Receipt, which beat the Zacks Consensus Estimate of 91 cents. The bottom line declined from the year-ago quarter's level of $1.04. Total quarterly revenues of $24.2 billion beat the Zacks Consensus Estimate of $22.3 billion. The top line, however, declined from $25.2 billion a year ago. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Eni SpA (E) : Free Stock Analysis Report Golar LNG Limited (GLNG) : Free Stock Analysis Report Vista Oil & Gas, S.A.B. de C.V. Sponsored ADR (VIST) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
28-05-2025
- Business
- Yahoo
Golar LNG: Q1 Earnings Snapshot
HAMILTON, Bermuda (AP) — HAMILTON, Bermuda (AP) — Golar LNG Ltd. (GLNG) on Tuesday reported net income of $8.2 million in its first quarter. The Hamilton, Bermuda-based company said it had net income of 8 cents per share. Earnings, adjusted for non-recurring costs, were 38 cents per share. The operator of carriers for natural gas shipping posted revenue of $62.5 million in the period. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on GLNG at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Washington Post
28-05-2025
- Business
- Washington Post
Golar LNG: Q1 Earnings Snapshot
HAMILTON, Bermuda — HAMILTON, Bermuda — Golar LNG Ltd. (GLNG) on Tuesday reported net income of $8.2 million in its first quarter. The Hamilton, Bermuda-based company said it had net income of 8 cents per share. Earnings, adjusted for non-recurring costs, were 38 cents per share. The operator of carriers for natural gas shipping posted revenue of $62.5 million in the period. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on GLNG at
Yahoo
28-05-2025
- Business
- Yahoo
Golar LNG: Q1 Earnings Snapshot
HAMILTON, Bermuda (AP) — HAMILTON, Bermuda (AP) — Golar LNG Ltd. (GLNG) on Tuesday reported net income of $8.2 million in its first quarter. The Hamilton, Bermuda-based company said it had net income of 8 cents per share. Earnings, adjusted for non-recurring costs, were 38 cents per share. The operator of carriers for natural gas shipping posted revenue of $62.5 million in the period. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on GLNG at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
