Added to YB: 2026-09-15
Pitch date: 2026-09-12
ENH.OL [bullish]
SED Energy Holdings Plc
+0.41%
current return
Author Info
No bio for this author
Company Info
SED Energy Holdings Plc provides tender-assisted drilling services in Southeast Asia, Thailand, Myanmar, and the United States.
Market Cap
NOK 571.7M
Pitch Price
NOK 7.36
Price Target
14.80 (+104%)
Dividend
8.39%
EV/EBITDA
4.51
P/E
7.93
EV/Sales
2.38
Sector
Energy Equipment and Services
Category
special_situation
A Merger That Creates One of Offshore's Cheapest Dividend Stories - SED Energy Holdings Plc
ENH.OL (added to position): SED Energy position was increased on weakness after its proposed all-share merger with Ventura, creating a roughly $1B offshore group trading near 4x EV/EBITDA versus 7-8x for larger U.S.-listed peers. Refinancing and roughly 1x leverage support illustrative distributable cash flow of NOK 1.4-2.6 per share, a 19-36% yield; retendering at rates supporting 20% distributions could drive a quick 2x. Key risks are tender-rig award delays, Catarina’s next contract and Ventura’s yard capex.
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