Keppel    Last:7.44    +0.06

keppel Corp

Christmas Comes Early for Keppel

 



New Target price:

OCBC Investment Research (23 Dec): $12.03

OMG/DMG (23 Dec): $11.40

Nomura Equity Research (Outlook 2012): $11.10

DBS Vickers   (23 Dec): $10.14

CIMB (23 Dec): $8.90 

 

 

News from Channelnewsasia.

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1172874/1/.html

SINGAPORE: A unit of Keppel Offshore & Marine (Keppel O& M) has won a contract worth about US$809 million to design and build oil rigs for Brazilian firm Urca Drilling.

This brings Keppel O& M's new orders for the year-to-date to S$9.8 billion.

The rig is scheduled for delivery in fourth quarter 2015.

The new rig will have the capability to drill to depths of 10,000 metres and is said to be cost-effective.

It is 108 metres in overall length, with a main deck size of 73 metres by 73 metres.

The rig will also have accommodation facilities to house a crew of up to 160 men.

The contract is not expected to have a material impact on the net tangible assets or earnings per share of Keppel Corporation for the current financial year.

The rig's design was jointly developed and owned by Keppel's Deepwater Technology Group and Marine Structure Consultants.

- CNA/cc

 

Great, just come back after lunch & it is progressing well, looks like still can hold on further.

EdwardLiu      ( Date: 23-Dec-2011 12:47) Posted: Semisub order from Sete Brasil. Confirming  confidence that Petrobras awards could materialise by 1Q12 (latest), Keppel announced that they have secured a US$809m (S$1.05b) order for a semisub drilling rig from Sete Brazil. The rig is based on Keppel’s DSSTM 38E design and is scheduled to be delivered in 4Q15.

 

Semisub order from Sete Brasil. Confirming  confidence that Petrobras awards could materialise by 1Q12 (latest), Keppel announced that they have secured a US$809m (S$1.05b) order for a semisub drilling rig from Sete Brazil. The rig is based on Keppel’s DSSTM 38E design and is scheduled to be delivered in 4Q15.

 

the tendering process was cancelled last minute b'cos Petrobras now realised that awarding to the lowest bidder is NOT right. 

1) Keppel n Sembmarine could hv cost more but their proprietary designs are world-class standard and tested.

2) Though Ocean Rig had submitted the lowest bid to build 5 rigs, its new design was queried & there are rumours of Euro parent co facing financing stress.

 

I believe Sembmarine will benefit too - that's why they invested in new brasil yard (~US$500m) recently.

Transocean is Keppel's regular client - there is 1 open option (~US$200m) expiring on 31 Dec 2011 yet to be announced.

alexmay      ( Date: 23-Dec-2011 10:33) Posted: KepCorp will benefit from this arrangement.  What about Semcorp Marine? Who does Transocean give their contracts to?

 

KepCorp will benefit from this arrangement.  What about Semcorp Marine? Who does Transocean give their contracts to?

 

SAO PAULO (Dow Jones Dec 22, 2011 6.06pm ET )

Brazil's government-run oil company, Petroleo Brasileiro SA (PBR, PETR4.BR) on Thursday said it has canceled a much-delayed tender to buy 21 offshore drill rigs, and will instead open direct negotiations with two suppliers.

" The company will immediately begin negotiations with the two proponents, Ocean Rig do Brasil Ltda and Sete Brasil Participacoes S.A., with the objective of securing the best conditions," Petrobras said in a statement.

Petrobras didn't provide any reasons for the change of plan. The drill rigs are scheduled to be built in Brazil.  Earlier this year, Petrobras signed a separate contract with Sete Brasil to build a lot of seven offshore drilling rigs. That deal was the first tender in a broader 28-rig order planned by the company.

-By Matthew Cowley, Dow Jones Newswires 55-11 3544 7082 matthew.cowley@dowjones.com

 

Hopefully this news is neutral to Keppel n SembMarine as both are in the Sete Brasil camp that entered into private negotiation with Petrobras (in place of former tendering process).



Petrobras cancels rig tenders

Luke Johnson

Brazilian giant Petrobras said it is cancelling a tender for the contracting of 21  offshore drilling rigs to be built in Brazil.

In a brief statement, the state-controlled behemoth said it will " immediately start negotiations" with the two companies that  have bid on the projects so far, Ocean Rig do Brasil Ltda and Sete Brasil Participacoes.  The goal is to get better contract conditions, Petrobras said.  No other details we available.

Source: Upstreamonline.com 23:20 GMT 22. December 2011

 

Yesterday finally close high and gap up today.  Entered just in time at $9.21, needs patience sometimes.

 

one more time here, the old post does not open properly.

btw does anyone know how to delete/edit own post?

http://sg-shares.blogspot.com/2011/12/kepcorp.html

 

Reposting with proper link

http://sg-shares.blogspot.com/2011/12/kepcorp.html   

sgnewbie      ( Date: 23-Dec-2011 09:24) Posted: OCBC Research on KepCorp http://sg-shares.blogspot.com/2011/12/kepcorp.html

 

OCBC Research on KepCorp

http://sg-shares.blogspot.com/2011/12/kepcorp.html 

 

The 'Big Bang' is the 21-rig tender by Petrobras that will be announced within the next few days whereby Keppel hopes to secure 6 semi contract (~US$5B). 

Today's US$809m contract is in addition to the above 6 semi.

 

Christmas present is delivered just in time, hopefully more to come!!

 

22 Dec 2011

Keppel Offshore & Marine Ltd (Keppel O& M)  has secured a contract worth approximately US$809 million from  Sete Brasil , for the design and construction of a semisubmersible (semi) drilling rig based on Keppel’s proprietary DSSTM 38E design.

 

 

Finally started to move, damn boring day.

 

On Wednesday, Kepcorp gap up and closed at $9.22 with LOW volume of 3.66 million shares traded.

A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow).  This usually implies a continuation of a bullish trend.  There have been 9 rising windows in the last 50 candles–this makes the current rising window even more bullish.

Both RSI & MACD are flat as RSI trend sideways.

Important Resistance of Kepcorp: $9.56

Immediate Support of Kepcorp: $8.89

Currently prices are supported by the 20/50/100 days MA.

Since 21/Oct, prices have ................. READ MORE

 

 

 

 

  KOV enlists Keppel for rig repairs

A 50-50 joint venture between Australian explorer Buccaneer Energy and  Singapore-based Ezion Holdings has executed a repair contract with Singapore¶s  Keppel Fels.

Kenai Offshore Ventures (KOV) has enlisted Keppel to carryout repair andmodification work to its recently acquiredjackuprig Endeavour.

Buccaneer saidthe Endeavour was currently in dry dock undergoing the first stage of the work programme, with is expected  to be completed in the next 10 days.

The secondstage of the programme will commence in January andwill involve upgrades to the accommodation quarters,  blasting and painting of surfaces, winterising, andrefurbishing of tanks and piping systems.

Buccaneer also revealedabout 30 other contractors were looking at the rigs drilling equipment to determine what other  work needed to be completed.

It addedthe majority of the work on the drilling equipment was being carriedout by the original manufacturers, the majority  of which have workshops in Singapore.

KOV completed the purchase of the rig, which was previously namedGSF Adriatic XI, from Transocean last month.

The Marathon LeTourneau 116-C design rig is capable drilling to 25,000 feet in water depths of upto 300 feet.  The first well expected to be drilledby the Endeavour next year is located on Buccaneer¶s 100% ownedSouthern Cross  project in Alaska which is estimated to hold12.7 million barrels of oil equivalent in proven plus probable reserves.

The rig is expected to arrive in Alaska¶s Cook Inlet in April or May next year.

Source: Upstreamonline.com last updated: 04:13 GMT 21. December 2011

 

 

My Christmas wish, Keppel announce rigs orders for Christmas present!!!