Golar LNG Limited

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  • Fri, Jan. 22, 5:32 PM
    • Golar LNG (NASDAQ:GLNG) ended 50% higher in today's trade, as its MoU with Schlumberger to jointly market gas monetization solutions is seen by analysts as a vote of confidence in the company's Floating LNG Assets and Technology.
    • Cowen analyst Sam Margolin, who maintains an Outperform rating and $80 price target on GLNG, says the arrangement shows that FLNG's technology is competitive in the current commodity price environment, and he expects additional FLNG projects for the company.
    • Evercore ISI's Jonathan Chappell says the MoU with a blue-chip company such as SLB can be considered "proof of concept" for FLNG technology, as there are no FLNG assets in operation yet; Chappell, who has a Buy rating and $48 price target on GLNG, believes past skepticism about the effectiveness of FLNG technology should be alleviated.
    | Fri, Jan. 22, 5:32 PM | 4 Comments
  • Fri, Jan. 22, 12:44 PM
    | Fri, Jan. 22, 12:44 PM
  • Fri, Jan. 22, 10:21 AM
    • Golar LNG (GLNG +39.7%) explodes higher following news it has signed a memorandum of understanding with Schlumberger that will see the two companies cooperate on the global development of greenfield, brownfield and stranded gas reserves.
    • Under the MoU, GLNG and SLB will jointly market gas monetization solutions to owners, investors and governments in an attempt to help lower the cost of liquefied natural gas production from gas reserves worldwide.
    • GLNG will contribute floating LNG assets and technology, while SLB will provide upstream development knowledge, resources and capital.
    | Fri, Jan. 22, 10:21 AM | 3 Comments
  • Wed, Jan. 20, 12:45 PM
    | Wed, Jan. 20, 12:45 PM | 4 Comments
  • Dec. 18, 2015, 5:30 PM
    • Golar LNG Partners (NASDAQ:GMLP) rebounded more than 15% to recover a chunk of its 42% shellacking suffered yesterday amid the Teekay dividend cuts, after saying it has experienced no material changes in its operations since its Q3 earnings announcement on Nov. 30.
    • GMLP says its distribution policy has not changed and expects an unchanged distribution of $0.5775/unit in Q4; also, GMLP's board authorizes the repurchase of up to $25M of its outstanding common units.
    • The other relevant stocks ended mostly higher: GLOG +2.7%, GLNG +0.1%, GLOP -3.1%, TK +21%, TNK +2.4%, TGP +12.8%, TOO +36.4%.
    | Dec. 18, 2015, 5:30 PM | 4 Comments
  • Dec. 17, 2015, 10:48 AM
    • GasLog (GLOG -13.6%) and Golar LNG (GLNG -8.1%) are sharply lower in the wake of the Teekay dividend cuts, as the market focuses on GLOG and GLNG following Teekay's (TK -55.6%) announcement and Kinder Morgan's cut earlier this month.
    • Wells Fargo downgrades TK and GLOG to Market Perform from Outperform, saying pressure around dividend cuts is likely to continue weighing on the stocks.
    • The firm issues reduced price target ranges for the stocks, to $18-$20 from $35-$37 for TK and to $10-$12 from $21-$23 at GLNG.
    • Also: TGP -45.8%, GMLP -34%, GLOP -8.4%, STNG -3.5%, NNA -3.2%, NAP -2.2%.
    | Dec. 17, 2015, 10:48 AM | 59 Comments
  • Nov. 30, 2015, 8:47 AM
    • Golar LNG (NASDAQ:GLNG): Q3 Net loss of $143.02M.
    • Revenue of $24.25M (-15.9% Y/Y) misses by $5.8M.
    • Press Release
    | Nov. 30, 2015, 8:47 AM | 3 Comments
  • Nov. 27, 2015, 12:15 PM
    • Gazprom (OTCPK:OGZPY) has agreed to buy all of the liquefied natural gas from the Perenco export plant in Cameroon being developed by Golar LNG (NASDAQ:GLNG) and due to start operating in 2017.
    • Gazprom will take 1.2M metric tons/year of LNG from the project, as it aims to boost its portfolio in LNG as supply grows and the fuel takes an increasing role in global gas trade.
    • Wells Fargo estimates the contract could result in natural gas delivered at $7-$8/MMBtu, which would be more than 3x the current U.S. price near $2.21/MMBtu.
    | Nov. 27, 2015, 12:15 PM | 5 Comments
  • Sep. 30, 2015, 10:49 AM
    • Golar LNG (GLNG +9.9%) is sharply higher after announcing that its Cameroon floating liquefied natural gas project has earned final approval by all parties of the Gas Convention for the project, which commits the project to a Q2 2017 targeted start date for commissioning.
    • GLNG expects the Cameroon project to deliver EBITDA in the first full year of operation, based on the utilization of two of the available four liquefaction trains, of $170M-$300M.
    | Sep. 30, 2015, 10:49 AM | 1 Comment
  • Aug. 28, 2015, 11:46 AM
    • Golar LNG (GLNG +5%) is upgraded to Buy from Hold with a $45 price target at Stifel, which notes that as the company continues progress toward finalizing multiple FLNG projects, each of which could be worth $10-$15/share, the firm estimates the sum of the parts at $45/share with material upside if more FLNG projects begin to solidify.
    • Stifel reiterates its Buy rating on Golar LNG Partners (GMLP +4.3%) while lowering its target price to $29 from $33, as units trade at a compelling current yield of 13% with excellent cash flow protection and distribution visibility.
    | Aug. 28, 2015, 11:46 AM | 1 Comment
  • Aug. 26, 2015, 6:15 PM
    • Golar LNG (NASDAQ:GLNG): Q2 Preliminary EBITDA of -$25.30M
    • Preliminary revenue of $16.92M (-19.7% Y/Y).
    | Aug. 26, 2015, 6:15 PM | 3 Comments
  • Jul. 22, 2015, 9:14 AM
    • Golar LNG (NASDAQ:GLNG+1.9% premarket on news it has ordered a third floating liquefaction vessel based on its GoFLNG technology.
    • The primary contract for the GoFLNG Gandria was entered into with Singapore's Keppel Shipyard, following previous deals for the GoFLNG Hilli and Gimi conversions.
    • GLNG says it does not expect to raise any additional equity in connection with the $684M order.
    | Jul. 22, 2015, 9:14 AM | 1 Comment
  • Jul. 21, 2015, 2:58 PM
    • Golar LNG (GLNG +4.8%) says it has secured up to $960M in financing for its GoFLNG unit Golar Hilli from a unit of China’s shipbuilding conglomerate China State Shipbuilding Corp.
    • GLNG says the financing will fund up to 80% of the cost of the converting the Moss-type LNG carrier Hilli into a GoFLNG vessel at Singapore’s Keppel Shipyard.
    • Once GLNG has spent $400M of the estimated $1.2B conversion cost, the company will be able to draw down up to $700M from the facility in the first phase of the financing; GLNG already has spent $385M on the conversion.
    • Another $260M will be able to be drawn down in the second phase, which will be activated once the completed unit has been delivered from Keppel Shipyard and “certain additional performance milestones” have been satisfied.
    | Jul. 21, 2015, 2:58 PM | 1 Comment
  • Jul. 21, 2015, 10:32 AM
    • The crash in oil prices is good for business for operators of the supertankers capable of hauling more than 2M barrels of crude around the world, such as Frontline (FRO +9.1%), Teekay Tankers (TNK +4.2%), Nordic American (NAT +2.6%), DHT Holdings (DHT +2.4%) and Euronav (EURN +1.5%), whose stocks have been moving up in recent weeks.
    • The oil market rout that started in 2014 is a boon that could allow the companies to reduce debt, invest in new vessels and reward shareholders that have stuck with them through some very lean years, FT reports.
    • Since the start of the year, the cost of hiring a VLCC has jumped more than 50%, with the rate for shipping oil from Saudi Arabia to Japan - the benchmark supertanker route - rising to $93.6K/day, a seven-year seasonal high.
    • The supply of supertankers also has fallen sharply since 2008.
    • Other related tickers: GLNG, GNRT, SFL, NAO, ASC, TOO, TK, TGP
    | Jul. 21, 2015, 10:32 AM | 29 Comments
  • Jul. 10, 2015, 5:40 PM
    | Jul. 10, 2015, 5:40 PM | 7 Comments
  • Jul. 1, 2015, 2:43 PM
    • Golar LNG (GLNG -0.5%) gives back initial gains that followed its announcement late yesterday of a deal for a floating liquefied natural gas export project in Cameroon.
    • GLNG says it expects the project will generate a profit of $170M-$300M for the company during its first year in operation, based on Brent crude prices of $60-$102/bbl.
    • The new tolling agreement defines material commercial terms and conditions for the project and is subject to final approval by the two local partner companies as well as the Cameroon government, expected by the end of Q3.
    | Jul. 1, 2015, 2:43 PM | 2 Comments
Company Description
Golar LNG Ltd is a midstream LNG company engaged in the transportation, regasification and liquefaction and trading of LNG. It is engaged in the acquisition, ownership, operation and chartering of LNG carriers.