Golar LNG (GLNG)

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Golar LNG (GLNG) - 2022 Q1 - Quarterly Report
2022-06-14 13:07
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of June 2022 Commission File Number: 000-50113 (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F [ X ] Form 40-F [ ] Indicate by check mark if the registrant is submitting the Form 6-K in pape ...
Golar LNG (GLNG) - 2022 Q1 - Earnings Call Transcript
2022-05-26 18:10
Golar LNG Limited (NASDAQ:GLNG) Q1 2022 Results Conference Call May 26, 2022 10:00 AM ET Company Participants Karl Staubo - CEO Eduardo Maranhao - CFO Conference Call Participants Chris Tsung - Weber Research Sean Morgan - Evercore Ben Nolan - Stifel Craig Shere - Tuohy Brothers Chris Robertson - Jefferies Operator Good day and thank you for standing by, and welcome to Golar LNG Limited Q1 2022 Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator In ...
Golar LNG (GLNG) - 2021 Q4 - Annual Report
2022-04-28 19:20
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of April 2022 Commission File Number: 000-50113 Golar LNG Limited (Translation of registrant's name into English) 2nd Floor S.E. Pearman Building 9 Par-la-Ville Road Hamilton HM 11 Bermuda (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports ...
Golar LNG (GLNG) - 2021 Q4 - Annual Report
2022-04-28 15:34
Financial Position - As of December 31, 2021, Golar LNG Limited had cash and cash equivalents of $418.8 million, including $150.2 million in restricted cash[256]. - Total contractual obligations as of December 31, 2021, amounted to $3,477.8 million, with $1,266.9 million due in 2022[271]. - Golar LNG Limited's medium and long-term liquidity requirements are primarily for funding future investments and repayment of long-term debt[259]. - As of December 31, 2021, Golar LNG Limited was in compliance with all covenants under its various loan agreements[268]. Cash Flow - Net cash provided by continuing operating activities increased by $108.1 million to $253.9 million for the year ended December 31, 2021, compared to $145.8 million in 2020[263]. - Net cash used in continuing investing activities was $194.3 million in 2021, with significant contributions to asset development related to the Gimi conversion[263]. - The company reported a net cash provided by discontinued investing activities of $120.0 million in 2021, compared to $8.2 million in 2020[265]. Corporate Expenses - The company experienced a $4.5 million increase in corporate expenses due to one-off redundancy costs[257]. Market Impact - The ongoing Ukraine-Russia war has led to increased global demand for oil, natural gas, and LNG, which may materially impact earnings and cash flow for the 2022 fiscal year[275]. Interest Rate and Derivatives - As of December 31, 2021, the notional amount of interest rate swaps outstanding was $505.0 million, representing approximately 50.3% of the floating rate loans[409]. - A one-percentage point increase in the floating interest rate would increase interest expense by $4.0 million per annum[409]. - The Hilli oil derivative asset was valued at $127.5 million as of December 31, 2021, linked to Brent Crude prices above $60.00 per barrel[412]. - The Hilli gas derivative asset was valued at $79.6 million as of December 31, 2021, linked to TTF prices above $0.5652/MMBTU[413]. - The notional quantity of commodity swaps outstanding was 23,249 tons, with a 10% increase in TTF prices resulting in a loss of $2.3 million per annum[414]. Currency Impact - A 10% depreciation of the U.S. Dollar against GBP would have increased expenses by $1.8 million based on GBP expenses for 2021[410]. - A 10% depreciation of the U.S. Dollar against NOK would have increased expenses by $2.6 million based on NOK administrative expenses for 2021[411]. - A 10% depreciation of the U.S. Dollar against the Euro would have increased crew costs by $2.9 million for 2021[411]. Impairment Assessment - Management performs an annual impairment assessment for vessels, with no impairment loss recognized for nine vessels as projected undiscounted net cash flows exceeded carrying values[281]. - The carrying value of certain vessels was higher than their estimated market values, indicating a potential impairment trigger, but no impairment loss was recognized due to favorable cash flow projections[284].
Golar LNG (GLNG) - 2021 Q4 - Earnings Call Transcript
2022-02-24 21:38
Golar LNG Limited (NASDAQ:GLNG) Q4 2021 Earnings Conference Call February 24, 2022 10:00 AM ET Company Participants Karl Staubo - CEO Eduardo Maranhao - CFO Conference Call Participants Randy Givens - Jefferies Ken Hoexter - Bank of America Omar Nokta - Clarkson Securities Operator Ladies and gentlemen, thank you for standing by, and welcome to Golar LNG Limited Quarterly 2021 Results Call. [Operator Instructions] I would now like to hand the conference over to your speaker today, Karl Staubo. Please go ahe ...
Golar LNG (GLNG) - 2021 Q3 - Quarterly Report
2021-11-18 12:19
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of November 2021 Commission File Number: 000-50113 GOLAR LNG LIMITED (Translation of registrant's name into English) 2nd Floor S.E. Pearman Building 9 Par-la-Ville Road Hamilton HM 11 Bermuda (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports ...
Golar LNG (GLNG) - 2021 Q3 - Earnings Call Transcript
2021-11-09 17:54
Golar LNG Limited (NASDAQ:GLNG) Q3 2021 Earnings Conference Call November 9, 2021 10:00 AM ET Company Participants Karl Staubo - Chief Executive Officer Eduardo Maranhao - Chief Financial Officer Conference Call Participants Randy Giveans - Jefferies Ken Hoexter - Bank of America Frank Galanti - Stifel Nicolaus Mike Webber - Webber Research Sean Morgan - Evercore ISI Craig Shere - Tuohy Brothers Liam Burke - B. Riley James Yoon - Citi Operator Good afternoon, ladies and gentlemen, and welcome to the Golar L ...
Golar LNG (GLNG) - 2021 Q3 - Earnings Call Presentation
2021-11-09 15:34
Financial Performance - Golar LNG's Q3 2021 total operating revenues increased by 13% year-over-year to $107 million[6,8] - Adjusted EBITDA increased by 30% year-over-year to $74 million[6,8] - Shipping TCE increased by 26% year-over-year to $49500[5,8] FLNG Hilli - FLNG Hilli achieved 100% uptime[5] - Meaningful earnings upside tied to Brent of around $13 million in Q4 21[13] - Agreed to increase 2022 production by 200000 tons[13] FLNG Gimi - FLNG Gimi construction is 75% technically complete[5,19] - FLNG Gimi annual Adjusted EBITDA is projected at $215 million (100% basis)[19] - FLNG Gimi Adjusted EBITDA backlog is $43 billion[19] Shipping - A 12-month charter was agreed at $100000 per day, increasing revenue backlog to $267 million[5] - Q4 2021 TCE is expected to be approximately $53500 per day based on current rates[29] Financing and Debt - Secured up to $682 million of new financing and refinancing facilities[6] - Total Golar cash balance in Q3 2021 was $203 million[6] - Golar's contractual debt decreased by 11% year-over-year[8]
Golar LNG (GLNG) - 2021 Q2 - Earnings Call Transcript
2021-08-09 19:10
Golar LNG Limited (NASDAQ:GLNG) Q2 2021 Earnings Conference Call August 9, 2021 10:00 AM ET Company Participants Karl Staubo - CEO Eduardo Maranhao - CFO Conference Call Participants Ben Nolan - Stifel Mike Webber - Webber Research James Yoon - Citi Randy Giveans - Jefferies Sean Morgan - Evercore Ken Hoexter - Bank of America Merrill Lynch Liam Burke - B. Riley FBR Operator Good day, and thank you for standing by. Welcome to the Golar LNG Limited Q2, 2021 Results Presentation Conference Call. Currently, al ...
Golar LNG (GLNG) - 2021 Q2 - Earnings Call Presentation
2021-08-09 16:22
Financial Highlights - Golar LNG reported a gain of $575 million from the closing of Hygo and GMLP transactions, leading to an increase in liquid assets by approximately $700 million[3] - The company's Q2 cash balance stood at $287 million[3] - Net income for Q2 2021 was $471 million, primarily driven by net income from discontinued operations and unrealized gain on Brent oil derivative[3, 6] - Adjusted EBITDA for Q2 2021 was $67 million[3] FLNG Operations - Hilli Episeyo achieved 100% uptime and offloaded its 59th cargo[3] - Increased capacity utilization for Hilli agreed for 2022, with an option for a sustained increase from 2023, potentially adding $113 million in adjusted EBITDA backlog at TTF forward curve or $373 million on current TTF price[3, 41] - Gimi construction is 72% technically complete, targeting sail-away in Q1 2023 and contract start-up in Q4 2023, with an adjusted annual EBITDA of $215 million (on 100% basis) and an adjusted EBITDA backlog of $4.3 billion[3, 23] Shipping Operations - Q2 TCE was $46700, including loss of hire proceeds[3] - A 5-year vessel charter was agreed, increasing shipping revenue backlog to $259 million[3] - The company anticipates Q3 2021 TFDE TCE to be around $47000 per day, with utilization expected to be around 98%[29]