Q4 2021 SeaBird Exploration PLC Earnings Call Transcript
Good morning, everyone, and welcome to this Fourth Quarter Conference Call for Green Energy Group. My name is Stale Rodahl, I'm the Executive Chairman, and I'm here or at different locations then with our Interim CEO, Finn Atle Hamre; and our CFO, Erik von Krogh.
Before we go on with the presentation, I just want to make some initial remarks. And that is that 27 months ago, SeaBird set out on a major restructuring and cost-cutting effort. We have cut cost by 40%, putting us at the very bottom of the industry cost curve. We have relocated to 1 office, we have reorganized into a project-based organization and we have had some terrific improvement in operating efficiency and uptime following this. Furthermore, we have refinanced our bond loan, and we have scrapped 3 old vessels, thereby high grading our fleet.
Furthermore, we have positioned the company for the green energy transition through starting up Green Minerals, which we are a company that we are really excited about. So in all, when we look back at the last 27 months
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