Prospector Offshore Drilling (OSTO:PROSO) Dividend-Payout-to-FFO

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What is Prospector Offshore Drilling Dividend-Payout-to-FFO?

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Prospector Offshore Drilling Business Description

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GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Prospector Offshore Drilling SA (OSTO:PROSO) » Definitions » Dividend-Payout-to-FFO

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http://www.prospectoroffshoredrilling.com

Prospector Offshore Drilling SA is a Luxembourg public limited liability company incorporated on 28 May, 2010. The Company is a development stage company formed for the purpose of constructing, owning and operating a fleet of modern high-specification jack-up rigs to service customers in the exploration and production sector. As of 31 December 2013, the Company owns one high-specification jack-up rig under customer contract and has four high-specification jack-up rigs under construction at Shanghai Waigaoqiao Shipbuilding Co., Ltd., one of which is under customer contract. Additionally, the Company holds one option contract with SWS to build an additional high-specification jack up rigs of identical specifications. In March 2013, the Company exercised two of its option contracts and entered into turnkey construction contracts for the construction of PROSPECTOR 7 and PROSPECTOR 8 with Shanghai Waigaoqiao Shipbuilding Co., Ltd. Shipyard ("SWS"). The offshore contract drilling service industry is highly competitive with numerous industry participants, ranging from large international companies to smaller, locally owned companies and rigs owned by national oil companies. The Company is subject to corporate governance regulations under Luxembourg Company Law and the Norwegian Code of Practice for Corporate Governance issued by the Norwegian Corporate Governance Board.