While the mid-term picture is supportive (i.e. careful spending in the previous cycle tightened the supply and should boost prices and future investments), PGS cannot afford to wait with its upcoming maturities. The stock is down 40% at pixel time, as the company says it is assessing “alternate ways to address upcoming debt maturities”. Obviously not a good signal for equity holders. PGS has $160m of debt due in H2 22, $375m in 2023 and $628m in 2024.
27 Jan 2022
Q4: in a fragile state with slower recovery
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Q4: in a fragile state with slower recovery
While the mid-term picture is supportive (i.e. careful spending in the previous cycle tightened the supply and should boost prices and future investments), PGS cannot afford to wait with its upcoming maturities. The stock is down 40% at pixel time, as the company says it is assessing “alternate ways to address upcoming debt maturities”. Obviously not a good signal for equity holders. PGS has $160m of debt due in H2 22, $375m in 2023 and $628m in 2024.