VELESTO ENERGY BERHAD

KLSE (MYR): VELESTO (5243)

You're accessing 15 mins delay data. Turn on live stream now to enjoy real-time data!

Last Price

0.145

Today's Change

0.00 (0.00%)

Day's Change

0.145 - 0.15

Trading Volume

16,876,000

Overview

Market Cap

1,191 Million

NOSH

8,216 Million

Avg Volume (4 weeks)

20,769,127

4 Weeks Range

0.12 - 0.15

4 Weeks Price Volatility (%)

83.33%

52 Weeks Range

0.075 - 0.155

52 Weeks Price Volatility (%)

87.50%

Previous Close

0.145

Open

0.145

Bid

0.15 x 1,074,500

Ask

0.05 x 85,900

Day's Range

0.145 - 0.15

Trading Volume

16,876,000

Financial Highlight

Latest Quarter | Ann. Date

30-Sep-2022 [#3] | 29-Nov-2022

Next QR | Est. Ann. Date

31-Dec-2022 | 28-Feb-2023

T4Q P/E | EY

-17.27 | -5.79%

T4Q DY | Payout %

0.00% | 0.00%

T4Q NAPS | P/NAPS

0.30 | 0.48

T4Q NP Margin | ROE

-13.90% | -2.80%

Company Profile

Sector: ENERGY

Sector: ENERGY

Subsector: ENERGY INFRASTRUCTURE, EQUIPMENT & SERVICES

Subsector: ENERGY INFRASTRUCTURE, EQUIPMENT & SERVICES

Description:

Velesto Energy Berhad, previously known as UMW Oil & Gas Corp Bhd, is a multinational provider of drilling and oilfield services for the upstream sector of the oil and gas industry.


The company's line of products and services include drilling and workover services for exploration, development, and production of wells in Malaysia and southeast Asia through several offshore drilling rigs and hydraulic workover units. 

Under the oilfield services segment, the company offers threading, inspection, and repair services for Oil Country Tubular Goods in various offshore markets.

Operating revenue is primarily derived from drilling services, which includes ownership and operation of several drilling rigs and hydraulic workover units, or HWUs. Rigs and HWUs are chartered through day-rate-based contracts.

Discussions
25 people like this. Showing 50 of 21,255 comments

EAGLE

Fly today

3 weeks ago

kingJ

Hi all, how does price of oil affects VELESTO's performance?

3 weeks ago

Klse_faizan

Risky stock
To much debt

3 weeks ago

Eric Lim

Huat lah, RM1.00 coming .............................

3 weeks ago

Macgyver111

KUALA LUMPUR (Nov 7): Offshore drilling services provider Velesto Energy Bhd has bagged a US$135 million (RM640 million) contract from Hess Exploration and Production Malaysia BV for the provision of integrated rig, drilling and completion (I-RDC) services for Hess' North Malay Basin Full Field Development Campaign.

The two-year job that will be completed by 2024 was secured via wholly owned subsidiary Velesto Drilling Sdn Bhd, said Velesto in a Bursa Malaysia filing.

According to Velesto, jack-up rig NAGA 5 will be assigned for the contract to provide I-RDC services covering 14 wells, and that the expected commencement date is in the fourth quarter of this year.

NAGA 5 is a premium independent-leg cantilever jack-up drilling rig that has a drilling depth capability of 30,000 ft, with a rated operating water depth of 400 ft, it added.

Velesto shares closed half a sen or 4% higher at 13 sen on Monday (Nov 7), bringing the group a market capitalisation of RM1.03 billion.

3 weeks ago

Macgyver111

Petronas pay them very less for rigs service. International players like hess carigali might pay them very well. Ini kali lah...

3 weeks ago

Macgyver111

Next year easily can go back to 0.40c like in 2019.

3 weeks ago

Macgyver111

Tomorrow I believed can break 0.135c..

3 weeks ago

EAGLE

Fly today

3 weeks ago

Bon888

The contract signed with Petronas was an umbrella contract. Any operator (PSC) for example Hess, Exxon, Shell, Hibiscus who need Rig services in Malaysia water must use Velesto in priority. If Velesto not able to provide then operator allowed to look for alternative.

3 weeks ago

chienweilim8139

Velesto Energy Bhd has bagged a US$135 million (RM640 million) contract from Hess Exploration and Production Malaysia BV for the provision of integrated rig, drilling and completion (I-RDC) services.

3 weeks ago

chienweilim8139

rally is strong

3 weeks ago

Macgyver111

Institutional must join in to push up the price...

3 weeks ago

Bon888

Today at will close at 0.14 or above.

3 weeks ago

EAGLE

Fly today

3 weeks ago

Macgyver111

Haha finally

3 weeks ago

Macgyver111

SinGor

Alot of die hard are now relief of the prospect "very stone" will not break "friday the Thirteen"

Haha! Freddy Krueger is buying on behalf of "Friday the thirteen".

3 weeks ago

SinGor

Velesto Earnings will "Explode", it is just a matter of Time. Petronas has to Booked Velesto remaining 5 rigs
at a price that should match HESS's contract ( RM635mil for 2 years---what Day Rate, i cannot guess now )

3 weeks ago

SinGor

Covid come and goes in 2 years. Ukraine War will LAST until Putin is Dead, maybe 2, 3, 6 & 10 years.
So Oil rally above $100 is confirmed thru-out 2023, 2024

3 weeks ago

SinGor

Oil rushing back to 96-97 tonite. So choppy. How can contra players Win?

2 weeks ago

rwilliams

Besides prospect of Rigs that already sold out, Velesto Hydraulic Workover Unit (HWU) are fully sold out also (and with good day rate). If you go to Velesto yard in KSB, there was the HWU rigs that keep in front of the base since long time ago. Now this HWU is gone to do projects.
The new CEO, Megat Zariman was ex Schlumberger and Bumi Armada. Very well train in Big International organization, and proven can bring back Bumi Armada from their despair. He will do even more with Velesto as the macro environment also support the recovery in Oil & Gas sector.

2 weeks ago

SinGor

Russian was able to pull out Kherson with bulk of army still intact. It means the war will go on. Damages to
Ukraine Propeties run in 100's of Billion and Zelensky wants Russia to pay for it ( with 800bil locked in EU Banks).
I think any Time frame less 10years is Not possible for any real solution. Meaning Oil will be High in foreseeable
2--3 years. None of the Bank analyst i talk to, is worried about Velesto Bottomline. High Oil price means High
Day Rate ( no 2 ways around it )

2 weeks ago

Macgyver111

Next week buy while price still in deep. Once DSAI become our next 10th PM, mark my word price sure skyrocket one.

2 weeks ago

SinGor

Usually if velesto Qr results is bad, a Good Announcement usually comes 2-3days before Qr release. HESS contract was released 8 Nov almost 3 weeks before Qr release Due. I assume Qr results is Good, no need supplemental "Help" like Contract received.

2 weeks ago

Shines

Big block at 14

2 weeks ago

SinGor

11m block at 14sens look BIG, but in cash term it is only RM1.54mil (smaller than peanut). Meaning ikan bilis
is still wait and see. No interest until Bankers rush in, I think kind of headache for contra players

2 weeks ago

Macgyver111

KUALA LUMPUR (Nov 15): CGS-CIMB Securities has maintained its “add” rating on Velesto Energy Bhd at 13.5 sen with a higher target price (TP) of 17 sen (from 11.5 sen) and said it expects Velesto to secure more drilling contracts and at higher average daily charter rates (DCRs) in the coming months.

In a note on Monday (Nov 14), the research house raised its core net profit forecasts on higher utilisation and DCR rate assumptions for the immediate and also for the long term.

CGS-CIMB said Velesto guided that it had plenty of work lined up for 2023, which could help it achieve a minimum utilisation rate of 70% or even 80% if all the available days are filled or if it chooses to delay the planned offline upgrade in 2023 for either the Naga 3 or Naga 4 in favour of taking advantage of strong demand for drilling services.

“In light of this, we raise our jack-up (JU) rig utilisation assumptions for FY2023-2024 from 70% to 80% and our long-term assumptions from 70% to 75% for FY2025 and beyond.

“We have assumed an increase to US$75,000/day for non-offline-capable rigs in our FY2023 forecasts.

“Downside risks include demand and DCRs in the JU market potentially declining should oil prices fall due to a deep global recession,” it said.

2 weeks ago

specializedvenge

Every last min back to.135 for days...

1 week ago

Macgyver111

Parliament hung, don't know what going to happen to bursa today..adoi

1 week ago

Shines

Parliment Hung, just pluck shares

1 week ago

Macgyver111

Market recover back. For sure DSAI is our next PM. 2morrow after lunch things might get more interesting.

1 week ago

StayHumble

Moo is backdoor expert. Need to be careful

1 week ago

Lewis Lee

Whoever take over as new government, this counter won't be affected at all lah !
whatever government also need to gorek more oil to increase their revenue what ??
safe counter to invest !

1 week ago

Lewis Lee

Optimism is all over the market, so be ready for super bull charging all the way to Christmas ...> CNY ....> ..... then sell in May & go away !!!!!!

5 days ago

SinGor

Tomolo Qr results Out

2 days ago

Harryww

Oil prices started to inch up and result to be released late today. The possibility of limit up tomorrow is there to be seen.

2 days ago

roslaom

Nak jalan

2 days ago

specializedvenge

Green qr

1 day ago

WILLIAM203

fly ......

1 day ago

hafizisolehah88

you better flyy....

1 day ago

bb1788

very good results...smooth sailing now on..

1 day ago

CHLEONG888

Ok, tomorrow limit up

1 day ago

SinGor

No problem going back to 30sens with One months Christmas Rally plus One month 2023 Chinese New Year
Rally. Maybe Velesto is lead Charger for post Covid Super Bull. My 2 cents guess. Never know. 3years Bursa
looks like a very lethargic Oldman. Lets raise the Flag we are climbing Mount Tahan

1 day ago

George99

Profit estimation

Q4. 30 Mn to 60 Mn
2023. 60 Mn to 100Mn
2024 80 Mn to 200Mn

Possibly?

1 day ago

Macgyver111

KUALA LUMPUR (Nov 29): Velesto Energy Bhd returned to the black with a net profit of RM14.97 million for the third quarter ended Sept 30, 2022 (3QFY2022), against a net loss of RM52.04 million in the same quarter last year, on the back of higher revenue.

The net profit also follows net losses of RM46.20 million and RM43.17 million for 1QFY2022 and 2QFY2022, respectively.

Quarterly revenue increased 89.83% to RM173.78 million, from RM91.54 million in 3QFY2021, mainly due to higher utilisation in its drilling services and integrated services segments, the group said in a bourse filing.

The group's average jack up rig utilisation for its drilling services segment improved to 78%, compared with 51% in 3QFY2021, it said.

The offshore drilling services provider did not declare a dividend for the quarter.

For the first nine months of FY2022 (9MFY2022), the group’s net loss narrowed to RM74.4 million from RM96.25 million a year ago, as cumulative revenue expanded 54.22% to RM337.78 million from RM219.02 million.

On prospects, Velesto said the global and regional upstream activities, including in Southeast Asia, continued their upward trend, with more exploration and development projects being evaluated and sanctioned. As a result, regional jack-up marketed utilisation has increased to above 90% and charter rates for the latest fixtures has been on an uptrend.

As for its drilling services segment, Velesto said it is actively bidding for new tenders for local and international contracts scheduled to be performed this year and next.

The prospect for its integrated services segment is improving with a number of jobs secured, it said.

“Currently, two out of four of the group’s workover units are working. The group continues to bid for available local and international contracts, for jobs scheduled to be performed this year and next year,” it added.

As for its oilfield segment, the group said positive industry outlook is also expected to support the stable performance of its oilfield services operation in China.

Shares of Velesto closed unchanged at 14.5 sen on Tuesday (Nov 29), giving the group a market capitalisation of RM1.19 billion.

1 day ago

EAGLE

Fly

1 day ago

roslaom

Fund belum masuk. Ikan bilis jer now. Go long

1 day ago

Lewis Lee

this counter won't fly, it will only crawl ....... ....... ...... ...... .....

20 hours ago

Post a Comment