• Operating Loss and EBITDA* in the quarter reported a loss of $41.4 million and $16.2 million, respectively, compared to a 4Q loss of $32.7 million and $15.9 million.
  • Issued a $402.5 million 2.75% five-year unsecured convertible bond with a capped call that gives an effective conversion premium and price of 75% and $48.86, respectively.
  • Repaid balance of the 2012 five-year convertible bond and refinanced the debt facility in respect of LNG carrier Golar Crystal.
  • Secured firm two-year contract for Golar Grand commencing 2Q 2017 and a 12-month contract for a carrier commencing 1Q 2018.

Subsequent events

  • OneLNG’s Fortuna joint venture executes Umbrella Agreement with the Republic of Equatorial Guinea to establish the fiscal and legal framework for the Fortuna FLNG project.
  • Fortuna midstream EPC construction contracts awarded. Project on track for mid-2017 final investment decision ("FID").
  • Put Option in respect of FSRU Golar Tundra exercised by Golar Partners.
  • The Company and Golar Partners enter into a purchase option agreement for Golar Partners to acquire up to a 25% interest in FLNG Hilli Episeyo.
  • OneLNG enters into a Memorandum of Understanding with the Republic of Equatorial Guinea to find a monetisation solution for stranded gas focusing on Blocks O and I offshore Malabo.