Era Group Exposure To Oil Is Embellished
Alpha Gen Capital
Alpha Gen Capital
Fri, Apr. 1, 12:46 PM
Thu, Jan. 7, 11:26 AM
- Crude oil prices likely will stay subdued throughout H1 2016, Oppenheimer's James Schumm says, noting “record pessimism” on futures exchanges and indications from Saudi Arabia that it is preparing for a protracted period of low prices, but he expects oilfield services stocks to recover in H2.
- Schumm says Halliburton (HAL +0.1%) and Schlumberger (SLB -0.3%) will have an advantage, as their client roster includes the high quality E&P companies whereas smaller oilfield services companies (OIH -0.9%) tend to work for the more marginal players.
- Oppenheimer also recommends Weatherford (WFT -2.9%), Superior Energy Services (SPN -2.4%), Bristow Group (BRS -2.4%) and Era Group (ERA -5%) in the sector.
Nov. 5, 2015, 3:21 PM
- Oilfield helicopter operator Era Group (ERA -12.3%) sinks to 52-week lows after Q3 earnings and revenue fall well short of expectations, highlighting the spread of the energy industry’s downturn beyond traditional oilfield services companies.
- Era says it has amended existing contracts allowing it to defer deliveries of helicopters used to transfer workers and cargo to and from offshore platforms, delay deposits or even cancel deals altogether.
- Era says it may terminate deals worth ~$127M of its existing $175M in capital commitments; the company has outstanding orders for 17 helicopters, including 14 from Finmeccanica (OTCPK:FINMF) and three from Sikorsky, the United Technologies unit that soon will join Lockheed Martin after closing a $9B sale.
Oct. 22, 2015, 2:57 PM
- Helicopter operator Era Group (ERA -15.2%) sinks near 52-week lows after announcing that Petrobras intends to cancel the ongoing tender process for heavy and medium helicopters
- PBR has concluded it does not need additional helicopters after a review of its aviation needs in light of the current macroeconomic environment, ERA says.
- ERA's Aeroleo Brazilian unit currently has 10 aircraft on contract with PBR and says it would need to consider workforce reductions If an extension is not secured for the existing contracts.
Era Group, Inc. offers helicopter transportation services. It also provides helicopters and related services to third-party helicopter operators in other countries, including Brazil, India, Norway, Spain and the United Kingdom. The company's helicopters are primarily used to transport personnel... More
Industry: Air Services, Other
Country: United States
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