• 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.

Subsequent events

  • Fortuna joint venture secures signed financing term-sheet and makes substantial progress toward obtaining necessary governmental approvals.
  • Issued a $402.5 million 2.75% 5-year unsecured convertible bond with a capped call that gives an effective conversion price of $48.86.