Announcement • May 22
Solstad Offshore ASA Approves Cash Dividend Solstad Offshore ASA at its shareholders meeting held on May 13, 2026, approved cash dividend of USD 0.10 per share. The dividend will be paid in NOK. New Risk • May 12
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Reported Earnings • May 11
First quarter 2026 earnings released: EPS: US$0.35 (vs US$0.28 in 1Q 2025) First quarter 2026 results: EPS: US$0.35 (up from US$0.28 in 1Q 2025). Revenue: US$86.0m (up 25% from 1Q 2025). Net income: US$29.0m (up 26% from 1Q 2025). Profit margin: 34% (in line with 1Q 2025). Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Energy Services industry in Europe. Announcement • May 09
Solstad Offshore Asa Proposes Cash Dividend for the First Quarter 2026, Payable on or About 27 May 2026 The board of directors of Solstad Offshore ASA announced that it intends to distribute a cash dividend of USD 0.1 per share to its shareholders for the first quarter 2026, totalling approximately USD 8 million. Such distribution is subject to a formal decision by the Board of Directors, expected 15 May 2026, which in turn is dependent on the approval by the General Meeting on 13 May 2026 of (1) the annual accounts for 2025 and (2) an authorization to Board of Directors to distribute dividends. Key information relating to the cash dividend is set out below: Ex-date: 18 May 2026, Record date: 19 May 2026, Distribution date: On or about 27 May 2026, Date of approval: 15 May 2026. Reported Earnings • Mar 30
Full year 2025 earnings released: EPS: US$1.69 (vs US$1.40 in FY 2024) Full year 2025 results: EPS: US$1.69 (up from US$1.40 in FY 2024). Revenue: US$290.0m (up 13% from FY 2024). Net income: US$139.4m (up 21% from FY 2024). Profit margin: 48% (up from 45% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 1.2% growth forecast for the Energy Services industry in Europe. Announcement • Mar 10
Solstad Offshore ASA Approves Cash Dividend, Payable on or About 13 March 2026 Solstad Offshore ASA at its extraordinary general meeting held on 9 Mars 2026 approved that the company shall distribute a dividend in cash of USD 0.050 per share, totalling USD 4,117,339,75, based on the Company's audited interim balance statement with a balance date of 30 November 2025, to shareholders as per 9 March 2026, as recorded in the VPS on 11 March 2026. The shares in the Company are thus traded without the right to receive the dividend as of 10 March 2026. The dividend will be charged to the Company's share premium reserve and is expected to be paid on or about 13 March 2026. Upcoming Dividend • Mar 03
Upcoming dividend of US$0.05 per share Eligible shareholders must have bought the stock before 10 March 2026. Payment date: 13 March 2026. Trailing yield: 3.4%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (4.7%). New Risk • Feb 19
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.6% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. New Risk • Feb 17
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 55% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Announcement • Feb 16
Solstad Offshore ASA Proposes Cash Dividend for the Fourth Quarter of 2025, Payable on or About 13 March 2026 Solstad Offshore ASA proposed at its EGM to be held on 9 March 2026 to distribute a cash dividend of USD 0.05 per share to its shareholders for the fourth quarter of 2025, in total approximately USD 4 million. The proposal, including an interim balance sheet with balance date 30 November 2025, is subject to the approval by the company's general meeting. Ex-date: 10 March 2026, Record date: 11 March 2026, Distribution date: On or about 13 March 2026. Reported Earnings • Feb 15
Full year 2025 earnings released Full year 2025 results: Revenue: US$290.0m (up 33% from FY 2024). Net income: US$141.0m (up 26% from FY 2024). Profit margin: 49% (down from 51% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.0% p.a. on average during the next 2 years, compared to a 3.7% growth forecast for the Energy Services industry in Europe. Announcement • Jan 10
Solstad Offshore ASA, Annual General Meeting, May 13, 2026 Solstad Offshore ASA, Annual General Meeting, May 13, 2026. Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €4.13, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 9x in the Energy Services industry in Europe. Simply Wall St's valuation model estimates the intrinsic value at €6.82 per share. Buy Or Sell Opportunity • Dec 25
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at €3.56. The fair value is estimated to be €4.47, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 23% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 28% in 2 years. Earnings are forecast to decline by 5.0% in the next 2 years. New Risk • Nov 30
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 4.8% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings are forecast to decline by an average of 3.4% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Upcoming Dividend • Nov 19
Upcoming dividend of US$0.05 per share Eligible shareholders must have bought the stock before 25 November 2025. Payment date: 28 November 2025. The company last paid an ordinary dividend in February 2015. The average dividend yield among industry peers is 5.9%. Board Change • Nov 17
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Independent Director Per Sortland was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 30
Solstad Offshore ASA Proposes Cash Dividend Solstad Offshore ASA announced that proposal to distribute cash dividend of USD 0,05/share, totaling approximately USD 4 million, to be approved in an extraordinary general meeting. Board Change • Mar 04
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Independent Director Per Sortland was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Feb 13
Solstad Offshore ASA to Distribute Dividend for Fourth Quarter of 2024 Solstad Offshore ASA intends to distribute dividend for fourth quarter of 2024 of NOK 0.50 per share. Announcement • Dec 11
Solstad Offshore ASA, Annual General Meeting, May 15, 2025 Solstad Offshore ASA, Annual General Meeting, May 15, 2025. Announcement • Dec 10
Solstad Offshore ASA to Report Q4, 2024 Results on Feb 12, 2025 Solstad Offshore ASA announced that they will report Q4, 2024 results on Feb 12, 2025 Announcement • Jun 01
Solstad Offshore Asa Approves the Election of Members to the Nomination Committee On AGM held on May 30, 2024, the Solstad Offshore ASA approved the Election of Members to the Nomination Committee. Toril Eidesvik be replaced by Ingebret G. Hisdal in the Nomination Committee. All elected for a two-year period. Announcement • May 18
Kistefos AS and Kistefos Investment AS File Class Action Claim Against Solstad Offshore ASA's Board Members and CEO and Aker Capital AS Kistefos AS and Kistefos Investment AS have notified that Kistefos has filed a class action claim against Solstad Offshore ASA board members and CEO and the company Aker Capital AS before Ringerike, Asker and Bærum District Court in order to seek compensation for the alleged losses incurred by Kistefos as a result of the refinancing. Aker Capital AS maintains that any such claim is without merit. Board Change • Jan 26
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Per Sortland was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Dec 29
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.7x net interest cover). Shares are highly illiquid. Shares are highly illiquid. Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (6.5% increase in shares outstanding). Shareholders have been diluted in the past year (6.5% increase in shares outstanding). Board Change • Dec 29
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Per Sortland was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 19
Third quarter 2022 earnings released: kr6.10 loss per share (vs kr1.96 loss in 3Q 2021) Third quarter 2022 results: kr6.10 loss per share (further deteriorated from kr1.96 loss in 3Q 2021). Revenue: kr1.86b (up 24% from 3Q 2021). Net loss: kr471.4m (loss widened 220% from 3Q 2021). Board Change • Nov 19
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Director Thorhild Widvey was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 28
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Director Thorhild Widvey was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 26
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: kr5.40b (up 12% from FY 2020). Net loss: kr1.10b (down 115% from profit in FY 2020). Revenue was in line with analyst estimates. Board Change • Feb 11
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Director Thorhild Widvey was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 28
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Director Thorhild Widvey was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Dec 01
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: kr1.96 loss per share (up from kr3,942 loss in 3Q 2020). Revenue: kr1.50b (up 14% from 3Q 2020). Net loss: kr147.4m (loss narrowed 87% from 3Q 2020). Revenue was in line with analyst estimates. Board Change • Dec 01
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Director Thorhild Widvey was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 27
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: kr1.96 loss per share (up from kr3,942 loss in 3Q 2020). Revenue: kr1.50b (up 14% from 3Q 2020). Net loss: kr147.4m (loss narrowed 87% from 3Q 2020). Revenue was in line with analyst estimates. Board Change • Nov 15
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Director Thorhild Widvey was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Oct 18
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Director Thorhild Widvey was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 28
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Director Thorhild Widvey was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 25
Second quarter 2021 earnings released: kr3.60 loss per share (vs kr2,760 loss in 2Q 2020) The company reported a decent second quarter result with reduced losses and improved control over expenses, although revenues were weaker. Second quarter 2021 results: Revenue: kr1.26b (down 5.0% from 2Q 2020). Net loss: kr272.5m (loss narrowed 66% from 2Q 2020). Reported Earnings • May 27
First quarter 2021 earnings released The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: kr1.34b (up 11% from 1Q 2020). Net loss: kr309.0m (loss narrowed 86% from 1Q 2020). Announcement • May 21
Normand Maximus Operations Limited and Saipem (Portugal) Comércio Marítimo Sociedade Unipessoal Lda Enters into Agreement for Settlement of All Claims and Counterclaims Between the Parties Related to the Time Charter for Normand Maximus Solstad Offshore ASA's subsidiary Normand Maximus Operations Limited has been pursuing legally the unpaid termination fee and other claims following the early termination by Saipem (Portugal) Comercio Maritimo Sociedade Unipessoal Lda, of the time charter party for Normand Maximus. Normand Maximus Operations Limited and Saipem (Portugal) Comercio Maritimo Sociedade Unipessoal Lda, as time charterer of Normand Maximus, and Saipem SPA as time charter guarantor, have entered into an agreement for settlement of all claims and counterclaims between the parties related to the time charter for Normand Maximus. The settlement entitles Normand Maximus Operations Limited to a payment of USD 48,25 million primo June 2021. This equals approximately 96% of Normand Maximus Operations Limited's gross claim. The dialogue for a long-term solution for the lease financing arrangements for the Normand Maximus is ongoing, and reference is made to Annual Report for 2020 for information on this issue. Announcement • Mar 10
Solstad Offshore ASA Wins Four Platform Supply Vessel Contracts for Work in the UK North Sea Solstad Offshore ASA (Solstad) has been awarded four Platform Supply Vessel (PSV) contracts for work in the UK North Sea. Total E&P UK Limited/Total E&P North Sea UK Limited (Total UK) has awarded Solstad a term contract for Normand Springer. The vessel will be utilised by Total UK to support their UK North Sea assets for a charter period lasting one year firm, plus a one year option. Commencement of this contract will be during the second half of March 2021. In addition, Equinor UK Limited has awarded Solstad two contracts for PSVs for an upcoming drilling campaign in the UK North Sea. Normand Sitella and Sea Falcon have both been contracted on a one well firm basis, commencing within second quarter of 2021, to support the semi-submersible drilling rig West Hercules, with one option well thereafter. Serica Energy UK Limited has awarded Solstad a 1 well firm contract for Normand Service for work in the UK North Sea. The contract will commence during the first half of March 2021, supporting the jack-up drilling rig Maersk Resilient. Announcement • Mar 06
Solstad Offshore ASA Announces Contract for the CSV Normand Fortress and CSV Normand Mermaid Solstad Offshore ASA is announced that CSV Normand Fortress has secured a contract with UK based contractor Manor Renewable Energy for operation on a UK wind farm. The contract is scheduled to commence in October 2021, in continuation of the former announced contract with MHI Vestas, keeping the vessel fully utilized into quarter first, 2022 and CSV Normand Mermaid has been awarded a contract with an international seabed seismic company. The vessel will be used for their deep-water Ocean Bottom Node baseline survey project offshore Angola. The project will commence in quarter second, 2021. Combined utilization for the two contracts is expected to be around 300 days. Reported Earnings • Feb 28
Full year 2020 earnings released Full year 2020 results: Revenue: kr5.03b (flat on FY 2019). Net income: kr7.22b (up kr10.3b from FY 2019). Announcement • Feb 27
Solstad Offshore ASA Confirms Large AHTS Normand Ranger Contract in Australia Solstad Offshore ASA confirmed that the large AHTS Normand Ranger has been awarded a contract in Australia for commencement in the second quarter of 2021. The vessel will mobilise from Norway and will then provide support to a major drilling campaign offshore North Western Australia, securing about 1 year of utilization for the vessel. During the drilling campaign, that also includes support from the Solstad AHTSs Normand Saracen and Far Senator, the Normand Ranger will operate in connection with a moored semi-submersible drilling rig, with the base port being Dampier. The arrival of the Normand Ranger supplements Solstads existing fleet of four large AHTS and five PSV's operating within Australia and New Zealand, managed from Solstads Perth office. Announcement • Feb 18
Solstad Offshore ASA Announces A Contract for the CSV Normand Cutter with Global Marine Group Solstad Offshore ASA announced a contract for the CSV Normand Cutter with Global Marine Group ("GMG"). Commencement of the contract is in March 2021, in direct continuation of current charter with GMG. Firm duration of the contract is 120 days plus 80 days options thereafter. In addition, GMG has the option to extend the contract for up to 200 days in 2022, exercisable by August 1, 2021. Global Offshore, part of the Global Marine Group, will utilise the Normand Cutter on their cable installation, trenching, maintenance, and repair projects both within the renewable energy and oil & gas markets. Announcement • Feb 02
Solstad Offshore ASA Signs Contract with MHI Vestas Solstad Offshore ASA announced that the company has signed a contract with MHI Vestas for hire of the CSV Normand Fortress to support their W2W operations at the Triton Knoll windfarm in UK. The firm period of the contract is 140 days plus options thereafter, commencing March 2021. The contract is the first being awarded by MHI Vestas to Solstad and is considered a milestone in work towards further enhance presence within the worldwide offshore-wind markets. Announcement • Jan 20
Solstad Offshore ASA Receives Contract for PSV in UK Solstad Offshore ASA announced that the PSV Sea Forth has been awarded a term contract with a UK Operator to support their assets in the UK North Sea, commencing April 1st, 2021. The contract is for an initial one year firm period, with two optional years included. Announcement • Dec 23
Solstad Offshore ASA Announces Contract Extension for CSV Normand Commander Solstad Offshore ASA announced the contract extension for the CSV Normand Commander. Bahia Grande LN S.A. has exercised their option to extend the contract with another 3 years, the contract is now firm until October 2026. The CSV Normand Commander has been on a Bareboat contract with Bahia Grande in Argentina since 2018. Announcement • Dec 19
Solstad Offshore ASA Wins Contract Awards in the Asia Pacific Region Solstad Offshore ASA has been awarded a contract with a large international contractor for the CSVs Normand Navigator, Normand Frontier and Normand Australis. The three vessels will be utilized for projects on the east coast of India. The contract will commence early First Quarter 2021 and have a combined potential duration of approximately 450 vessel days, in addition to mobilization and demobilization. In addition, Solstad has been awarded another contract with a large international contractor for Normand Frontier, after completion of the project in India. This contract is in Australia and will commence in Second Quarter 2021, for a duration up to 3 months, excluding mobilization and demobilization. Announcement • Dec 16
Solstad Offshore ASA Announces Frame Agreement with ExxonMobil in Brazil Solstad Offshore ASA announced that the company has entered into a Frame Agreement with ExxonMobil Exploração Brasil Ltda for the provision of supply vessel services supporting their exploration activities in Brazil. The Frame Agreement is for 3 years firm, and the first call off has been received for PSV "Normand Swift" for a period of 3 months with commencement during December. Announcement • Dec 15
Solstad Offshore Asa Wins Contract Awards for Psv's in Norway Solstad Offshore ASA announced that the large PSV "Normand Serenade" has been awarded a medium-term contract with Wintershall Dea to support their Deepsea Aberdeen drilling operations in Norway. The award is a call off from the existing frame agreement. Commencement of the contract will take place during First Quarter 2021 for a duration of 2 wells firm + 5 well options. As part of the Frame Agreement between Aker BP ASA and Solstad, Aker BP ASA has secured the PSV "Normand Arctic" for three months plus three months option, commencing February 2021. "Normand Arctic" has also been fixed by an undisclosed Charterer for 1 well, securing work for the vessel until commencement of the Aker BP contract. Is New 90 Day High Low • Dec 08
New 90-day low: €0.57 The company is down 99% from its price of €51.50 on 08 September 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Energy Services industry, which is up 28% over the same period. Announcement • Dec 04
Solstad Offshore ASA Wins Contract for Csv Normand Maximus Solstad Offshore ASA announced that the company has signed a contract for the CSV Normand Maximus to support operations for a Client in Latin America. The estimated duration is 5 months, including mobilization and de-mobilization. The contract is scheduled to commence during December 2020. Announcement • Dec 03
Aker Capital ASA acquired 3.1% stake in Solstad Offshore ASA (OB:SOFF) from Ocean Yield ASA (OB:OCY) for NOK 12.3 million. Aker Capital ASA acquired 3.1% stake in Solstad Offshore ASA (OB:SOFF) from Ocean Yield ASA (OB:OCY) for NOK 12.3 million on December 1, 2020. As per terms of transaction, Aker Capital ASA paid NOK 5.16 for each share. Post completion, Aker Capital AS and Fausken Invest AS will hold a total of 18.687150 million shares in the Solstad Offshore ASA , equal to 24,96% of the shares and votes in the Solstad Offshore ASA , and Ocean Yield ASA will no longer hold any shares in the Solstad Offshore ASA.
Aker Capital ASA completed the acquisition of 3.1% stake in Solstad Offshore ASA (OB:SOFF) from Ocean Yield ASA (OB:OCY) on December 1, 2020. Announcement • Nov 05
Solstad Offshore ASA Awards Two Contracts Within Subsea and Renewable Energy Representing Around 500 Vessel Days in 2021 Solstad Offshore ASA announced award of two contracts within Subsea and Renewable Energy representing around 500 vessel days in 2021. Normand Tonjer has secured a firm contract until November 2021, plus options for further extension of 2 x 12 months. In addition, Normand Jarstein has been awarded a 4 months firm contract with Ørsted to support their operations on Hornsea 2 offshore windfarm. The contract is commencing in Third Quarter 2021. Is New 90 Day High Low • Oct 21
New 90-day high: €0.70 The company is up 1,596% from its price of €0.042 on 23 July 2020. The German market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is down 5.0% over the same period. Announcement • Oct 04
Solstad Offshore ASA Announces PSV Normand Skimmer Has Been Awarded A Significant Long Term Contract with A Major International Company Solstad Offshore ASA announced that PSV Normand Skimmer has been awarded a significant long term contract with a major international company. The 2012 built vessel of PSV 08CD design, has been contracted for a period of 5 years plus options to support operations offshore North Western Australia from Fourth Quarter 2020. During the campaign the vessel will operate from Dampier, servicing production activities in the region. Announcement • Sep 26
Solstad Offshore ASA Announces Contract Extensions with Equinor and Aker BP Solstad Offshore ASA announced contract extensions with key clients Equinor and Aker BP. Equinor has declared an option to extend the contract for anchor handling vessel Normand Ferking with 1 more year to November 2021. Equinor has the option to extend the contract with further 2 x 1 years. Normand Ferking has been on contract with Equinor since 2007. In addition, as part of the Frame Agreement between Aker BP ASA and Solstad, Aker BP ASA has extended present contract for the PSV Far Solitaire with 12 months, commencing January 1, 2021. Both vessels will continue to support the oil & gas activities on the Norwegian Continental Shelf. 
