|Bid||380.80 x 0|
|Ask||381.10 x 0|
|Day's Range||378.50 - 392.00|
|52 Week Range||373.87 - 562.00|
|Beta (3Y Monthly)||0.57|
|PE Ratio (TTM)||6.04|
|Earnings Date||Feb 25, 2020|
|Forward Dividend & Yield||0.30 (7.61%)|
|1y Target Est||8.63|
(Bloomberg) -- Petrofac Ltd., the U.K.-listed oilfield service provider, is weighing a sale of its Malaysian assets for about $300 million, according to people with knowledge of the matter.The company has started gauging interest from potential investors on the planned divestment, said the people, asking not to be named as the discussions are private. The assets that could be on sale include a stake in an offshore oil field development known as PM304, one of the people said.Petrofac is the latest oil company looking to monetize its investments in Malaysia. Exxon Mobil Corp. is considering a sale of its offshore assets in the Southeast Asian nation which could raise as much a $3 billion, Bloomberg News reported in October, while Murphy Oil Corp. in March agreed to sell its portfolio in Malaysia for $2.13 billion.Shares of Petrofac fell as much as 1.8% in early London trading on Friday.Malaysia is an operational center for Petrofac in Asia Pacific, according to the company’s website. Besides the offshore oil field, it recently completed an engineering, procurement, construction and commissioning contract worth more than $500 million for a refining project in the state of Johor.Petrofac’s plan is to remain a cost-efficient, capital-light business in 2019 after several divestments last year, its Chief Executive Officer Ayman Asfari said in an annual report. In 2018, the company raised $800 million via the sale of non-core assets that includes its interests in the Greater Stella Area development in the North Sea and stakes in its Mexico operations and in Chergui asset in Tunisia.Petrofac has projects in 29 countries, its website shows. The British firm is looking to raise cash and to further strengthen its balance sheet through a transaction in Malaysia, the people said.Sale deliberations are still ongoing and may not necessarily result in a deal, said the people. A representative for Petrofac said the company doesn’t comment on market rumor.(Updates to add Petrofac share price in fourth paragraph)\--With assistance from Olivia Konotey-Ahulu.To contact the reporters on this story: Elffie Chew in Kuala Lumpur at email@example.com;Manuel Baigorri in Hong Kong at firstname.lastname@example.orgTo contact the editors responsible for this story: Fion Li at email@example.com, Robert FennerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
International oilfield services provider Petrofac Limited announced Wednesday that it has entered into the world's largest producing basin with the acquisition of W&W Energy Services.
Statistically speaking, long term investing is a profitable endeavour. But unfortunately, some companies simply don't...
As Petrofac Limited (LON:PFC) released its earnings announcement on 30 June 2019, the consensus outlook from analysts...
Petrofac, which designs, builds and operates oil and gas facilities, said in June it had lost out on $10 billion worth of contracts globally due to the investigation by Britain's Serious Fraud Office (SFO), which led to a February conviction of its former head of sales David Lufkin on 11 counts of bribery related to Iraqi and Saudi contracts. The company has said that no charges have been brought against Petrofac or any other employees. Petrofac said the investigation, which started in 2017 as part of a wider probe into Monaco-based Unaoil, had hampered its ability to win contracts in Saudi Arabia and Iraq, which accounted for 17% of the group's revenue in 2018.
Petrofac Limited (LON:PFC) is a company with exceptional fundamental characteristics. Upon building up an investment...
Petrofac shares, which have lost nearly half of their value since the SFO first announced its probe in 2017 as part of a wider investigation into Monaco-based oil and gas consultancy Unaoil, fell as much as 6.4%. In February, the SFO said Petrofac's former head of sales, David Lufkin, had pleaded guilty to 11 counts of bribery related to oil deals in Iraq and Saudi Arabia.
Today we'll evaluate Petrofac Limited (LON:PFC) to determine whether it could have potential as an investment idea. To...