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Aker ASA (AKER.OL)

AKER.OL on Oslo Stock Exchange

515.50NOK
17 Jul 2019
Change (% chg)

kr-6.50 (-1.25%)
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Latest Key Developments (Source: Significant Developments)

Aker Energy To Issue Convertible Bonds Worth USD 100 Mln
Monday, 8 Jul 2019 

July 8 (Reuters) - Aker ASA ::AKER ENERGY ISSUES CONVERTIBLE BONDS TO AFRICA FINANCE CORPORATION.HAS ENTERED INTO AN AGREEMENT TO ISSUE USD 100 MILLION OF CONVERTIBLE SUBORDINATED BONDS TO AFRICA FINANCE CORPORATION.AFC ALSO INTENDS TO TAKE PART IN FUTURE CAPITAL MARKET ACTIVITIES.BONDS HAVE A MATURITY OF FIVE YEARS, WITH AN OPTION TO EXTEND WITH ANOTHER THREE YEARS.BONDS HAVE A COUPON OF 5.5 PER CENT PER YEAR AND WILL BE CONVERTED TO EQUITY IN EVENT OF AN INITIAL PUBLIC OFFERING AKER ENERGY, AT AN AGREED DISCOUNT TO AN IPO OFFERING PRICE OF 1.85 PER CENT PER YEAR.PROCEEDS FROM BONDS WILL BE PART OF FINANCING FOR DEVELOPMENT OF DEEPWATER TANO CAPE THREE POINTS ("DWT/CTP") BLOCK OFFSHORE GHANA.AS PART OF AGREEMENT, AFC HAS RECEIVED EQUITY WARRANTS WITH RIGHT TO SUBSCRIBE SHARES IN AKER ENERGY IN FUTURE EQUITY OFFERINGS BY COMPANY OF UP TO USD 50-100 MILLION.  Full Article

Aker BP signs $4 bln credit facilities
Friday, 24 May 2019 

May 24 (Reuters) - Aker BP ASA ::AKER BP SUCCESSFULLY CLOSES USD 4.0 BILLION SENIOR UNSECURED REVOLVING CREDIT FACILITIES.FOLLOWING STRONG DEMAND FROM BANKS, FACILITIES WERE OVERSUBSCRIBED BY MORE THAN 47%, RESULTING IN AKER BP CHOOSING TO SCALE BACK LARGEST COMMITMENTS AND CLOSING TRANSACTION AS A 17 BANK CLUB DEAL WITH EQUAL TICKETS.FACILITIES COMPRISE A 3-YEAR USD 2.0 BILLION WORKING CAPITAL FACILITY AND A USD 2.0 BILLION 5-YEAR LIQUIDITY FACILITY.LIQUIDITY FACILITY INCLUDES TWO 12-MONTH EXTENSION OPTIONS.FACILITIES WILL BE USED FOR GENERAL CORPORATE PURPOSES AND WORKING CAPITAL AS WELL AS PROVIDING A LIQUIDITY RESERVE.  Full Article

Aker NAV Increased By 34.7 Pct In Q1 To NOK 56.2 Billion
Friday, 10 May 2019 

May 10 (Reuters) - Aker ASA ::REG-AKER ASA: FIRST-QUARTER RESULTS 2019 - NET ASSET VALUE OF NOK 56.2 BILLION.AKER Q1 NET ASSET VALUE NOK 56.2 BILLION VERSUS NOK 41.7 BILLION IN Q4 2018.Q1 PRE-TAX NOK 777 MILLION VERSUS NOK 266 MILLION YEAR AGO.AKER’S OIL SERVICE COMPANIES ARE SHOWING GOOD PROGRESS WITH SOLID OPERATIONAL PERFORMANCE.AKER EXPECTS THE OVERALL ACTIVITY LEVEL TO REMAIN SUBDUED AS E&P COMPANIES CONTINUE TO TAKE A CAUTIOUS APPROACH TO NEW INVESTMENT.IN Q1, ALL OF FIVE LISTED INDUSTRIAL PORTFOLIO COMPANIES DELIVERED POSITIVE VALUE GAINS.CONTRIBUTION THIS QUARTER WAS LARGELY EXPLAINED BY AKER BP HELPED BY AN IMPROVED SENTIMENT IN OIL AND GAS SECTOR, RESULTING IN A CONTRIBUTION TO NAV OF NOK 13.5 BILLION.NAV INCREASED BY 34.7 PER CENT IN Q1 TO NOK 56.2 BILLION.  Full Article

Aker ASA submits $4.4 bln Ghana oilfield development plan
Thursday, 28 Mar 2019 

March 28 (Reuters) - Aker ASA ::AKER ASA: AKER ENERGY SUBMITS AN INTEGRATED PLAN OF DEVELOPMENT AND OPERATION FOR THE DWT/CTP BLOCK OFFSHORE GHANA.TOTAL INVESTMENTS (CAPEX) TO DEVELOP THESE RESERVES ARE ESTIMATED TO USD 4.4 BILLION, EXCLUDING CHARTER RATE FOR A LEASED FPSO.TOTAL RESERVES FROM PECAN FIELD DEVELOPMENT ARE ESTIMATED TO 334 MILLION BARRELS OF OIL, AND PLATEAU PRODUCTION IS ESTIMATED TO 110,000 BARRELS OF OIL PER DAY.PRODUCTION FROM FIELD IS EXPECTED TO LAST FOR MORE THAN 25 YEARS..TOTAL RESOURCES IN AREA HAVE POTENTIAL TO INCREASE TO BETWEEN 600-1000 MMBOE, PROVIDED SUCCESSFUL APPRAISAL DRILLING ACTIVITY.AKER ENERGY GHANA LIMITED IS OPERATOR UNDER DWT/CTP PETROLEUM AGREEMENT WITH A 50% PARTICIPATING INTEREST.PARTNERS ARE LUKOIL OVERSEAS GHANA TANO LIMITED (38%), GHANA NATIONAL PETROLEUM CORPORATION (GNPC) (10%) AND FUELTRADE LIMITED (2%).  Full Article

Union plans strikes at UK Shetland gas plant
Tuesday, 12 Mar 2019 

March 12 (Reuters) - Aker ASA ::BRITAIN'S UNITE UNION SAYS 24 HOUR STRIKES AT SHETLAND GAS PLANT PLANNED FOR MARCH 13, 27, APRIL 19, 24 AND MAY 8.  Full Article

Aker remains open to dialogue about oil services M&A -CEO
Thursday, 8 Nov 2018 

Nov 8 (Reuters) - Aker ASA ::NORWEGIAN INVESTMENT FIRM AKER SAYS EXPECTS OVERALL OIL COMPANY SPENDING TO INCREASE IN SHORT- TO MEDIUM TERM, BUT OVERALL ACTIVITY LEVELS TO REMAIN SUBDUED.NORWEGIAN INVESTMENT FIRM AKER SAYS REMAINS POSITIVE ABOUT OIL AND GAS, WILL CONTINUE TO EVALUATE STRATEGIC ALTERNATIVES AND OPPORTUNITIES IN THE SECTOR.AKER CEO SAYS AKER ENERGY INTENDS TO SUBMIT DEVELOPMENT PLAN FOR PECAN FIELD OFF GHANA BY END-MARCH 2019.AKER CEO SAYS COMPANY REMAINS "OPEN TO DIALOGUE" ABOUT POTENTIAL M&A INVOLVING ITS OIL SERVICE BUSINESS.  Full Article

Aker: Net asset value rose 34.6 pct to $7.0 bln in Q2
Wednesday, 18 Jul 2018 

July 18 (Reuters) - Aker ASA ::AKER ASA: SECOND-QUARTER AND HALF-YEAR RESULTS 2018 - NET ASSET VALUE OF NOK 57.1 BILLION.AKER Q2 NET ASSET VALUE 57.1 BILLION NORWEGIAN CROWNS ($7.00 billion)VERSUS NOK 42.4 BILLION IN Q1.IT IS HARD TO FIND A QUARTER WITH BETTER PERFORMANCE IN AKER'S 177-YEAR INDUSTRIAL HISTORY", SAID AKER PRESIDENT AND CEO ØYVIND ERIKSEN.AKER'S LIQUIDITY RESERVE, INCLUDING UNDRAWN CREDIT FACILITIES, STOOD AT NOK 4.5 BILLION AS PER 30 JUNE 2018.AKER Q2 PRETAX RESULT NOK 1 173 MILLION VERSUS NOK -201 MILLION IN Q2 2017.  Full Article

Aker ASA says ‍Aker Capital will not bid for Norske Skog​
Wednesday, 21 Mar 2018 

March 21 (Reuters) - Aker Asa ::AKER ASA: RESTRUCTURING OF NORSKE SKOG.‍AKER CAPITAL AND OCEANWOOD HAVE DECIDED TO TERMINATE THEIR AGREEMENT ON NORSKE SKOG​.‍PARTIES DID NOT COME TO AN AGREEMENT REGARDING TERMS OF A JOINT BID FOR NORSKE SKOG​.‍OCEANWOOD HAS INFORMED AKER CAPITAL THAT IT HAS PROCEEDED IN PROCESS WITHOUT AKER CAPITAL​.‍AKER CAPITAL WILL NOT PLACE AN INDEPENDENT BID FOR NORSKE SKOG​.  Full Article

CEO Haugan leaves Kvaerner, takes over as head of Aker Energy
Friday, 23 Feb 2018 

Feb 23 (Reuters) - Kvaerner Asa ::REG-KVÆRNER ASA: JAN ARVE HAUGAN LEAVES AS KVAERNER CEO, TAKES OVER AS HEAD OF AKER ENERGY.REG-KVÆRNER ASA: HAUGAN LEAVES AS KVAERNER CEO, TAKES OVER AS HEAD OF AKER ENERGY.‍IDAR EIKREM, EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER IN KVAERNER, IS APPOINTED INTERIM CEO​.  Full Article

Aker ASA's Aker Energy to buy Hess Ghana, develop oilfield
Monday, 19 Feb 2018 

Feb 19 (Reuters) - Aker Asa ::AKER ENERGY, A 50-50 JOINT VENTURE BETWEEN AKER ASA AND TRG AS, REACHES AGREEMENT TO ACQUIRE HESS GHANA WITH AN AIM TO BUILD A SIGNIFICANT E&P ACTIVITY IN GHANA.‍AKER ENERGY TO ACQUIRE ITS INTERESTS IN GHANA CONSISTING OF A 50 PERCENT PARTICIPATING INTEREST IN DEEPWATER TANO CAPE THREE POINTS BLOCK​.‍TOTAL CASH CONSIDERATION FOR TRANSACTION IS USD 100 MILLION, CONSISTING OF USD 25 MILLION PAYABLE UPON CLOSING OF TRANSACTION AND A FURTHER USD 75 MILLION PAYABLE UPON APPROVAL OF PLAN FOR DEVELOPMENT AND OPERATION​.‍ACQUISITION IS SUBJECT TO APPROVAL FROM RELEVANT GHANAIAN AUTHORITIES AND OTHER CUSTOMARY CLOSING CONDITIONS​.‍DWT/CTP BLOCK COVERS APPROXIMATELY 2,010 SQUARE KILOMETRES IN A PROLIFIC PETROLEUM REGION​.‍IN LAST TEN YEARS, SEVEN EXPLORATION WELLS AND FIVE APPRAISAL WELLS HAVE BEEN DRILLED ON THIS BLOCK​.‍DISCOVERED CONTINGENT RESOURCES ARE ESTIMATED TO BE 550 MILLION BARRELS (2C) WITH A REMAINING PROSPECTIVE VOLUME UPSIDE OF APPROXIMATELY 400 MILLION BARRELS​.‍AKER ENERGY IS CURRENTLY PROGRESSING A COMMERCIALLY ROBUST DEVELOPMENT SOLUTION WITH A FAST-TRACK FIRST PHASE TARGETING APPROXIMATELY 400 MILLION BARRELS​.‍FIELD DEVELOPMENT CONCEPT WILL BE BASED ON A FPSO WITH A SUBSEA PRODUCTION SYSTEM​.‍SUBSEA PRODUCTION SYSTEM WILL BE DESIGNED TO FACILITATE RAPID TIE-BACKS TO CENTRALLY LOCATED FPSO IN SECOND PHASE​.‍PDO WILL BE SUBMITTED IN 2018 WITH ANTICIPATED FIRST OIL IN 2021​.  Full Article

Deals of the day-Mergers and acquisitions

June 12 The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday: