EANS-News: 100% of hydraulic fracturing capacities successfully marketed for 2014
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Subtitle: Tender worth EUR 148 million awarded by Rosneft for a two-year
hydraulic fracturing contract
Additional tender worth EUR 53 million awarded by Slavneft-Megionneftegaz for
2014-16
More than 60% of fracturing capacities locked up under two- to three-year
contracts
2014 order book for fracturing totals EUR 221 million
CEO Manfred Kastner: The 2014 tendering campaign has entered the final
straight. We are looking forward to concluding negotiations thus laying the
basis for another year of success for C.A.T. oil.
Company Information
Vienna, 18 February 2014 (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, today announced that it has
successfully marketed its fracturing capacities. The Company's operating
subsidiary CATKoneft has been awarded a tender worth EUR 148 million (based on a
rouble-to-euro exchange rate of 47) for a two-year hydraulic fracturing contract
by its largest and long-standing customer Rosneft. Furthermore, CATKoneft has
been awarded with an additional tender worth EUR 53 million by Slavneft-
Megionneftegaz for 2014-16. Combined with already existing three-year contracts
with Lukoil and Rosneft, these tender awards underpin a successful lockup of
more than 60% of C.A.T. oil's fracturing operating capacities under two- to
three-year contracts. The 2014 total order book for fracturing stands at EUR 221
million, representing 100% of the Company's fracturing capacity for the current
year.
Manfred Kastner, CEO of C.A.T. oil, commented: "When it comes to hydraulic
fracturing we go back to our roots: Fracturing has been the first service we
offered and it is indeed an important backbone of our Company. By having secured
orders worth EUR 221 million we have fully marketed our fracturing capacities
for 2014. And what we are particularly pleased about is that key customers such
as Rosneft have once again decided to place their trust in us by awarding multi-
year tenders. The 2014 tendering campaign has entered the final straight. We are
looking forward to concluding negotiations very soon thus laying the basis for
another year of success for C.A.T. oil."
www.catoilag.com
Press contact:
FTI Consulting
Thomas M. Krammer
Phone: +49 (0)69 92037-183
Email: thomas.krammer@fticonsulting.com
Steffi Fahjen
Phone: +49 (0)69 92037-115
Email: steffi.fahjen@fticonsulting.com
About C.A.T. oil AG:
C.A.T. oil AG is one of the leading independent oil and gas field service
contractors in Russia and Kazakhstan and is listed on the Frankfurt Stock
Exchange (SDAX). C.A.T. oil provides a range of high quality services, which
enable oil and gas producers to extend lifecycle of their fields or bring yet
unexploited oil and gas reserves to production.
Since its foundation in 1991 in Celle, Germany, C.A.T. oil has built up a
leading hydraulic fracturing service, a very effective method of well
stimulation by cracking rock formations with pressurized fluids, in Russia and
Kazakhstan. Following its IPO in 2006, the Company developed a second core
service of sidetrack drilling in 2006-08 and has established a strong presence
in Russia's sidetrack drilling market. Sidetrack drilling is a term used to
describe drilling of a new wellbore from the upper section of an existing well.
In 2011-12, the Company launched the next phase of its growth and
diversification strategy and set up high class drilling operations as a third
core service offering. High class drilling is the classical technology of
drilling vertical, inclined and horizontal wells for extraction of oil and gas.
In total, the Company has already invested more than EUR 400 million in growth
and diversification since its IPO in 2006.
Following the successful set up of high class drilling in 2011-12, C.A.T. oil
introduced its new segment reporting in 2013 clustering its activities in "Well
Services" (fracturing, cementing and completion operations) and "Drilling,
Sidetracking and IPM (Integrated Project Management)".
C.A.T. oil's customer base includes the leading Russian and Kazakh oil and gas
producers such as Gazprom, Rosneft, Lukoil and KazMunaiGaz. The Company has
long-standing relationships with these customers and has been a reliable service
provider since its market entrance in the early nineties.
C.A.T. oil has its headquarters in Vienna. The Company's 9M 2013 weighted
average headcount stood at 2,673 people, most of which are based in Russia and
Kazakhstan.
Further inquiry note:
Thomas 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
Kärntner Ring 11-13
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
