Rig Builders: Deutsche has a sector report, with an overweight call. Highlight recent boost in activity and raises earnings and TP. Note that customer confidence up and new orders should follow soon. Expect an active 1H11 for jackups, with Kepcorp and SembMarine well positioned to benefit…
Believe SG rigbuilders should benefit from any upgrade and/or replacement opportunities with increased scrutiny of aged offshore assets. There should also be greater demand for high specification offshore rigs as drill conditions become more challenging. Rate Kepcorp at Buy with $13.50 TP from $12.50, SembMarine at Buy with $6.90 TP from S$6.30 and SCI at $7.00 from $6.60.
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Keppel
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KepCorp vs SembCorp
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Jackpot2010
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23-Jan-2011 15:26
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Press release (on Sunday 23 Jan 2011) Keppel to build two jackups for Clearwater worth US$360 million Singapore, 23 January 2011 orders from Clearwater Capital Partners, LLC (Clearwater) to build a pair of premium
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hlfoo2010
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23-Jan-2011 11:00
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Still exp to buy , less 4 months up $2+ | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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krisluke
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22-Jan-2011 18:28
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relax la. keppel corp is in corrective stage, tip 10.96 at the worst. let's see how the EQ for next week. yesterday, i ask isolator got see jardine c&c or not, maybe I think he is busying shorting kepple corp for the fun. wow!! isolator is the major ordinary share holders for SAR and capitaland hor :) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jackpot2010
Master |
22-Jan-2011 15:07
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No wonder so many sellers past few days b'cos of bad news - Noble Cancelled 1 rig order (US$152m)! http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_96429695626452C14825782000110C51/$file/Nobledrillship.pdf?openelement |
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krisluke
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21-Jan-2011 09:45
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krisluke
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20-Jan-2011 23:07
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I've been following this thread for some years, treat it as a reference. need to do your own homework. i'm more on eps than pe. CLICK !!
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hlfoo2010
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20-Jan-2011 09:19
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My guess was wrong, but anyways today news make me feels better.
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noobnoob
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19-Jan-2011 23:35
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may i ask... where can we find the financial ratios that you posted?
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citrus
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19-Jan-2011 23:24
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Brazil Oil Fields May Hold More Than Twice Estimated Reserves By Peter Millard - Jan 19, 2011 9:43 PM GMT+0800 Brazilian oil deposits below a layer of salt in the Atlantic Ocean hold at least 123 billion barrels of reserves, more than double government estimates, according to a university study by a former Petroleo Brasileiro SA geologist. The research, which set out to show government figures were overly optimistic, found they underestimated the area’s potential, said Hernani Chaves, a professor at the Rio de Janeiro State University who worked at Petrobras for 35 years. The forecast, which the study puts at a 90 percent probability, compares with 50 billion barrels estimated by Brazil’s oil regulator, known as ANP. “We started with a skeptical view and finished with bigger numbers,” Chaves said in an interview at the university, in the city of Rio. “When we got the first results I said: ‘Something is wrong, it’s too big.’” Petrobras, which currently has 16 billion barrels of proven reserves, is investing more than $200 billion in five years as it taps the so-called pre-salt fields lying two miles below the ocean surface and another two to four miles beneath the seabed. The deposits include the Americas’ two largest oil discoveries since Mexico’s Cantarell in 1976. Royal Dutch Shell Plc, Repsol YPF SA and Exxon Mobil Corp. also operate blocks in the area. BG Group Plc and Galp Energia SGPS SA hold minority stakes. Chaves and Cleveland Jones, a professor at the same university and co-author of the study, found there’s a 10 percent chance the region holds 206 billion barrels of oil and natural gas, which would surpass the estimate of 172 billion barrels for Venezuela at the end of 2009 in BP Plc.’s Statistical Review of World Energy. Venezuela currently has Latin America’s biggest proven reserves. Statistical Model The two geologists used software from Oslo-based GeoKnowledge, an oil consulting firm, and the Monte Carlo statistical model the U.S. Geologic Survey uses to calculate undiscovered oil and natural gas resources around the world. Monte Carlo predicts potential discoveries based on the history of exploration successes and failures in an area. Petrobras estimates reserves of up to 16.8 billion barrels at four pre-salt fields where it has drilled and tested wells including Lula, it’s biggest prospect, the company said in an e- mailed response to questions. The company didn’t provide an estimate for the entire area and declined to comment on the study. The study assumes fields in the pre-salt region, an area bigger than Florida, will have a recovery rate of 25 percent to 30 percent, Hernani said. The rate measures the percentage of oil that can be extracted from a reservoir and that counts as reserves. Production Costs Brazilian President Dilma Rousseff said the pre-salt may hold 100 billion barrels in 2009, when she was cabinet chief for her predecessor, Luiz Inacio Lula da Silva. Magda Chambriard, a director at the ANP, said last year the pre-salt may hold more than the 50 billion-barrel estimate the agency uses in presentations. The costs and technical challenges involved in pumping oil from ultra-deep fields will likely slow development of the reserves, Chaves said. It will cost trillions of dollars to develop the entire area, he said. Petrobras expects to boost recoverable reserves to up to 35 billion barrels by 2014. The company’s proven reserves, or oil that can be extracted with existing infrastructure, rose 7.5 percent in 2010 to 16 billion barrels, the company said Friday. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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krisluke
Supreme |
19-Jan-2011 17:52
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ATTENTION TO ALL SEMBCORP INDUSTRIES KAKIS !!! !!! RECENTLY GOT BUY CALL !! OH YES !!! Semb fundamentals
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krisluke
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19-Jan-2011 17:29
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Kep Corp fundamentals
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SGG_SGG
Master |
18-Jan-2011 11:58
Yells: "karma karma karma chameleon" |
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krisluke, you masterlim8888 relative? | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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krisluke
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18-Jan-2011 11:56
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ATTENTION TO ALL KEPPEL CORP KAKIS !!! !!! 2nd BUY CALL IN A ROW !! OH YES !!!
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krisluke
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15-Jan-2011 20:42
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Yup. It base on my personal assumption only. Guess maersk a long time customer to keppel corp. I'm eyeing chevron for S marine for this. Forget about hercules, just another way of cooking fairy tales. Refinancing of rigs in usa is not cheap, loans are not easy to get unless could convince the banker, YES!! the money man !! !!! CREDIT SUISSE SECTOR REVIEW. SO FAST !!! !!! NO CLEAR A/L IS IT 
“We believe that Keppel and Sembcorp Marine would benefit proportionately from the wave of new orders due to their strong execution capabilities,” the house says.
Keppel bucks the broad market's decline and rises 0.2% to $11.52, while Sembcorp Marine falls 0.6% to $5.16.
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hlfoo2010
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15-Jan-2011 13:08
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Is it true Keppel???????not in SembCorp Marine bags ????? | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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krisluke
Supreme |
14-Jan-2011 23:29
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KEPPEL CORP LTD ! YES!! !!! | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jackpot2010
Master |
14-Jan-2011 23:14
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Keppel or SembMarine ? Maersk makes Singapore rig dealUpstream staff
01:38 GMT 14. January 2011 | last updated: 03:18 GMT 14. January 2011 |
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krisluke
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13-Jan-2011 23:48
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wish to learn more abt technical indicator, CLICK !! http://www.swing-trade-stocks.com/ADX-indicator.html I found the write out was quite easy to understand. Treat this as a reference for better understanding only. Reminder: Have faith in the indicator setting that you are most comfortable in, on the longer run on analyzing the big pic, it do build your confidence. Having confidence in oneself means half the battle is won (: |
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krisluke
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13-Jan-2011 16:37
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yup. I agree with your point. According to credit suisse, keppel corp current at 14.4 2011E p/e , else sembcorp marine at 17.6 2011E p/e. average p/e from 2004 to 2008 was BN4.SI at 17 and S51.SI at 18. obviously, BN4.SI got more meat than S51.SI. CLICK !! credit suisse analysis report (oct issue) http://doc.research-and-analytics.csfb.com/docView?language=ENG&source=ulg&format=PDF&document_id=863699481&serialid=Yp76wAuWCJuGqUnUO8WbPtFCKAPH5%2Bnwd2LrboKjwZY%3D |
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shplayer
Elite |
13-Jan-2011 16:24
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Because of the size of Petrobras' contracts, they tend to attract intense competition from rig/platform builders worldwide. As such, margins from Petrobras' contracts are usually razor thin.....case in point are the 2 platforms secured by KepCorp a few years (6-7 yrs?) ago. These contracts dragged down the margins of KCI group during the few years of contract execution. So, if the margins are not reasonable, and if KCI can remain busy with better rmargin contracts, perhaps its more prudent to forgo these contracts. In the short term, if KCI does not get the Petrobras contract, the share price will no doubt be impacted....but bear in mind, the CEO of KCI (Choo CB) and Kep Fels senior mgmt are very old hands in the oil and gas industry.......they navigated KepFels through the very tough times of the industry in the almost 15 years from mid 80s to 2003?
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1.57% 
Credit Suisse raises Keppel Corp's (BN4.SG) target to $13.50 vs $12.10 and Sembcorp Marine (S51.SG) target to $6.20 vs S$5.80 as the brokerage remains Overweight on the offshore & marine sector.
0.52%