Norway's Songa Offshore Expects Delays for Flagship Rig Project

Reuters

OSLO, May 26 (Reuters) - Drilling rig operator Songa Offshore said its flagship Cat D rig project would be delayed and would cost more as it reported first-quarter that beat expectations on Monday.

The firm reported first-quarter earnings before interest, taxes, depreciation and amortisation of $65.3 million, beating expectations for $61.8 million and up from $50.4 million at the same time a year ago.

(Reporting by Gwladys Fouche, editing by Henrik Stolen)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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