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Saturday, April 20, 2019

Oil Services Industry News

Aker Solutions Maintains Bullish Outlook

Aker Solutions announced at the company's capital markets day that it is maintaining its ambition of 9-15 percent annual revenue growth for the period 2011-15 due to a favorable market outlook for the oil services industry. The company  also maintains its ambitions of 3-4 percentage points EBITDA margin improvement by 2015. The target for organic revenue growth is 6-10 percent per annum. The order intake has been strong over the past year, increasing Aker Solutions'  order backlog by 23 percent (end of Q3 2011 vs Q3 2010).

Aker Solutions Maintains Growth Ambition

Aker Solutions will today announce at the company's capital markets day that it is maintaining its ambition of 9-15 percent annual revenue growth for the period 2011-15 due to a favourable market outlook for the oil services industry. The company also maintains its ambitions of 3-4 percentage points EBITDA margin improvement by 2015. The target for organic revenue growth is 6-10 percent per annum. The order intake has been strong over the past year, increasing Aker Solutions' order backlog by 23 percent (end of Q3 2011 vs Q3 2010).

DnB NOR Global E&P Spending Report: Growth Continues

The 65 oil companies covered in DnB NO’s fifth annual E&P spending report expect a spending increase of 14% in 2011, 8% in 2012 and 7% in 2013. For 2011 we expect activity growth in line with last year; however, service costs are increasing and expected to contribute one third of the total growth rate. We believe that this, combined with fundamentals such as an organic Reserve Replacement Ratio of 87% and increased focus on deepwater and challenging areas, will lend good support to earnings for the oil services industry in the years to come.