Ezra

Ezra: Announced that Subsea Services division, EMAS AMC, has finalized three contracts with Noble Energy, valued collectively at over US$300m. The scope of work includes engineering, procurement, construction and installation of subsea tie-backs for the Big Bend, Dantzler and Gunflint field developments in the US Gulf of Mexico. The fabrication of 16 subsea structures and stalking and spooling of over 160 miles (258 km) of line pipe has already begun at the EMAS AMC’s facility in Texas. Meanwhile, the offshore execution will begin in 2015, utilizing five EMAS AMC offshore construction vessels, including the newbuild, deepwater reel lay and heavy lift vessel, Lewek Constellation. Ezra is currently trading at 17x forward P/E