Fred Olsen Energy (OTCPK:FOEAY) is a leading provider of offshore exploration and production services to the oil and gas industry. As of December 2013, Fred Olsen had a fleet of 11 rigs, including two new rigs to be delivered in early 2014 and in the third quarter of 2015. The company's rigs had an average contract length of 31 months with a total order backlog of $4.6 billion.
For the year ended December 2013, Fred Olsen reported revenue of $1.2 billion and an EBITDA of $571 million. Further, the company announced a dividend of NOK20 ($0.68) per share, which implies a dividend yield of 10% considering the current stock price of $6.7.
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