OB:BWEOil and Gas
How Investors Are Reacting To BW Energy (OB:BWE) Locking In Long-Term Maromba Rig Financing
BW Energy recently converted its short-term lease for the Super Gorilla class jack-up rig BW MAROMBA B into a long-term project lease with Minsheng Financial Leasing Co. Ltd., covering US$274 million of Maromba development costs at a fixed daily rate of US$120,500 with payments starting only at first oil.
In parallel, BW Energy’s entry into producing deepwater Block 14 and tie-back Block 14K offshore Angola adds immediate output and reserves that complement its phased growth plans in Brazil...