EANS-News: C.A.T. oil enters 2012 with strong order book of EUR 267 million
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Company Information
Subtitle: Top 5 customers placed new orders worth EUR 267 million
Current volume surpasses prior-year order book by 20%
First orders for new high-class conventional drilling rigs included
Additional tenders expected as conventional drilling expansion continues
Vienna, 13 March 2012 (euro adhoc) - C.A.T. oil AG (O2C, ISIN: AT0000A00Y78),
one of the leading providers of oil and gas field services in Russia and
Kazakhstan, has been successful in the 2012 tendering campaign: as of 1 March
2012, the Company´s order book peaked at EUR 267 million (based on a
rouble-to-euro exchange rate of 40). Compared to the same period last year this
represents an increase of 20%. In addition to the 2012 tenders C.A.T. oil
already received first assignments for 2013. The total volume of orders has
surpassed the EUR 300 million mark, currently amounting to EUR 306 million for
2012 and 2013.
Manfred Kastner, CEO of C.A.T. oil, said: "We have pro-actively entered the 2012
tendering campaign once again targeting at a new record high of order intakes.
The current level of our 2012 order book represents an impressive increase of
20% over the last year and clearly demonstrates our strong reputation in the
market for delivering high-class services based on state-of-the-art technology.
We experienced a particularly strong demand for our new conventional drilling
rigs which once again confirmed our decision to enter into this attractive
market segment."
Historically, at the beginning of a year C.A.T. oil has been able to book in
advance approximately 80% of each year´s annual orders. As part of its business
expansion, C.A.T. oil started to market another six new high-class conventional
drilling rigs which have already been delivered and prepared for operations.
C.A.T. oil is therefore very well positioned to expand its order book volume in
the course of the year and anticipates additional intakes.
"We are very proud of the results of the tendering campaign laying the basis for
a successful financial year 2012. With our new conventional drilling rigs being
marketed at premium to the current market rates and further capacities on-hand
we are well positioned for additional profitable growth." Manfred Kastner said.
On April 30, 2012 C.A.T. oil will publish its results for Fiscal Year 2011 and
provide an outlook for Fiscal Year 2012.
www.catoilag.com
Press contact:
FTI Consulting
Carolin Amann
Phone: +49 (0)69 92037-132
Email: carolin.amann@fticonsulting.com
Thomas M. Krammer
Phone: +49 (0)69 92037-183
Email: thomas.krammer@fticonsulting.com
About C.A.T. oil AG:
C.A.T. oil AG is one of the leading providers of oil and gas field services in
Russia and Kazakhstan and is listed on the Frankfurt Stock Exchange (SDAX).
C.A.T. oil offers a wide spectrum of services to increase the lifecycle of an
oil field or to make unexploited oil fields accessible. The Company´s growth is
driven by the following factors: Existing oil fields need to be stimulated due
to shrinking oil and gas resources in order to optimize capacities.
Simultaneously, idle wells are reactivated or made accessible through new
methods in order to deploy wells to their maximum. Additionally, C.A.T. oil will
establish conventional drilling as third core service which allows to activate
completely unexploited oil and gas sources.
Since its foundation in 1991 in Celle, Germany, C.A.T. oil has built up a
leading hydraulic fracturing services business in Russia and Kazakhstan.
Following its IPO in 2006 the Company has invested more than EUR 250 million in
additional services and capacities: sidetrack drilling has become the Company´s
second core business. In November 2010, the Company introduced a comprehensive
investment program with a volume of EUR 150 million which will mainly be used to
set up conventional drilling as part of the Company´s service portfolio.
Furthermore, C.A.T. oil offers coiled tubing, well work-over, cementing and
seismic services. Due to the recent investments C.A.T. oil´s fleets and rigs are
state-of-the-art and therefore allow for time-efficient and effective
deployment. C.A.T. oil´s customer base includes the leading Russian and Kazakh
oil and gas producers amongst them Gazprom, KazMunaiGaz, LUKOIL, Rosneft and
TNK-BP. C.A.T. oil has a long-standing relationship with these customers and has
been a reliable service provider since its market entrance in the early
nineties.
The Company has its headquarters in Vienna. From January to December 2011, the
Company employed an average of 2,360 people, most of which are based in Russia
and Kazakhstan.
Further inquiry note:
Thomas M. Krammer
Tel: +49(0)69-92037-183
Email: thomas.krammer@fticonsulting.com
end of announcement euro adhoc
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company: C.A.T. oil AG
Kärtner Ring 11-13
A-A-1010 Wien
phone: +43(0) 1 535 23 20 - 0
FAX: +43(0) 1 535 23 20 - 20
mail: ir@catoilag.com
WWW: http://www.catoilag.com
sector: Oil & Gas - Upstream activities
ISIN: AT0000A00Y78
indexes: SDAX, Classic All Share, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt
language: English
