Net income improved from a loss of $23.9 million in 3Q to a loss of $13.7 million in 4Q. EBITDA and Operating Loss in the quarter reported a loss of $15.9 million and $32.7 million respectively compared to a 3Q loss of $11.3 million and $28.3 million.
Ophir and OneLNG agreed to form a joint venture to commercialise the 2.6Tcf Fortuna reserves in Equatorial Guinea using FLNG technology.
Golar Power reached a Final Investment Decision ("FID") on its Sergipe power project, signed a 25-year FSRU agreement and entered into a long-term sale and purchase agreement for the supply of LNG.
The Incentive Distribution Rights ("IDRs") in Golar LNG Partners ("Golar Partners" or "the Partnership") were reset. Golar LNG received 3.8 million new units including earn-out units as consideration.
Raised $170 million net of fees in new equity through the issue of 7.5 million new shares and received commitment for a $150 million margin loan. March 2017 maturing convertible bond fully funded.