AGR Operating Activity High in Q3

AGR Group announced today its financial results for the 3rd quarter 2013.

The company experienced a high operational activity level and a significant increase in EBITDA from NOK 30 million in Q3 2012 to NOK 69 million in Q3 2013. For the year to date, the reported EBITDA increased from NOK 87 mio in 2012 to NOK 163 mio in 2013.

AGR’s CEO Åge Landro comments: “We are very pleased with the interim results. The year has been very busy especially for our Norwegian region having delivered Total Well Management on two consortium rigs, services on two rigs with sublet slots and wells on rigs that had been secured by the operators.

“The UK team looks ahead to drilling wells for Genel Energy as part of the Operator’s North/West Africa offshore drilling campaign.”

[mappress]

Press Release, November 29, 2013