Axis Offshore 2Q profit at $4.4M

Axis Offshore, an Oslo-listed supplier of flotels for the international oil and gas industry, reported a rise in its 2015 second quarter profit of $4.4. This is an increase compared to $800.000 in the same period a year ago.

The company’s revenue was in line with last year, standing at $11.2 million in the second quarter.

Axis Offshore has one operational flotel, the Dan Swift, and two under construction, the Axis Nova, and Axis Vega. The Dan Swift flotel, working for Petrobras, had the economic performance of 99.4% during the quarter, the company said.

During the quarter, Axis Offshore reached an agreement with Cosco shipyard in China to delay the delivery of the Axis Nova flotel until July 15, 2016. The company did not say if the Axis Vega delivery would be affected.


Offshore Energy Today Staff