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BW Offshore Ltd (BWO.OL)

BWO.OL on Oslo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

BW Offshore Says Approved By ANP As Operator In Brazil
Saturday, 17 Aug 2019 

Aug 17 (Reuters) - BW Offshore Ltd ::APPROVED BY ANP AS OPERATOR IN BRAZIL AND TRANSFER OF PARTICIPATING INTEREST IN MAROMBA FIELD.BRAZIL'S ANP APPROVED TRANSFER OF CHEVRON, PETROBRAS' PARTICIPATING INTEREST IN MAROMBA FIELD TO BW OFFSHORE.TOTAL ACQUISITION PRICE FOR MAROMBA FIELD IS USD 115 MLN.APPROVAL AS OPERATOR SATISFIES MAIN CONDITION PRECEDENT FOR CLOSING OF MAROMBA FIELD ACQUISITION.APPROVAL WILL TRIGGER FIRST MILESTONE PAYMENT OF USD 30 MLN TO CHEVRON AND PETROBRAS.  Full Article

BW Energy eyes 106 mln barrels of recoverable oil at Maromba
Monday, 3 Jun 2019 

June 3 (Reuters) - BW Offshore's BW Energy unit told an investor briefing on Monday::BW ENERGY SAYS MAROMBA PHASE 1 DEVELOPMENT OFF BRAZIL IS EXPECTED TO PRODUCE AROUND 20,000 BOPD FROM Q1 2022, DEVELOPMENT COST AT AROUND $250 MILLION.BW ENERGY CEO SAYS TOTAL MAROMBA CAPITAL SPENDING IS EXPECTED TO BE AT AROUND $525 MLN, WHEN FPSO LEASE IS INCLUDED.BW ENERGY ESTIMATES MAROMBA DISCOVERY OFF BRAZIL TO HOLD AROUND 106 MILLION BARRELS OF RECOVERABLE OIL.BW ENERGY EXPECTS A TOTAL 2019-2025 NET CAPEX OF $1.4 BILLION.BW ENERGY CEO SAYS HE EXPECTS COMPANY'S PRE-CASH VALUATION IN IPO TO BE AT AROUND $750 MILLION.  Full Article

BW Offshore: Agreement With Gabon Oil Company For Farm-In In Dussafu License
Tuesday, 19 Mar 2019 

March 19 (Reuters) - BW Offshore Ltd ::REG-BW OFFSHORE: AGREEMENT WITH GABON OIL COMPANY FOR FARM-IN IN THE DUSSAFU LICENSE.TODAY ENTERED AGREEMENT WITH GABON OIL COMPANY (GOC) FOR ACQUISITION OF 10% INTEREST IN DUSSAFU PRODUCTION SHARING CONTRACT.TRANSACTION IS SUBJECT TO FULFILMENT OF CERTAIN CONDITIONS PRECEDENTS,.TRANSACTION ENTAILS PAYMENT BY GOC OF USD 28.5 MILLION.  Full Article

BW Offshore Says Acquires 30 Pct Stake In Maromba Field Offshore Brazil
Thursday, 14 Mar 2019 

March 14 (Reuters) - BW Offshore Ltd ::ACQUISITION OF 30% STAKE IN MAROMBA FIELD OFFSHORE BRAZIL.ENTERED INTO AGREEMENT TO BUY REMAINING 30% OF MAROMBA FIELD OFFSHORE BRAZIL FOR TOTAL ACQUISITION COST OF USD 25 MLN FROM CHEVRON .WILL PROCEED TO FINALISE PLAN OF DEVELOPMENT FOR APPROVAL BY BRAZILIAN NATIONAL AGENCY OF PETROLEUM, NATURAL GAS AND BIOFUELS .ACQUISITION PRICE WILL BE PAID OVER THREE MILESTONES.  Full Article

BW Offshore Entered Into Agreement To Acquire 70 Pct Of Maromba Field Offshore Brazil
Friday, 8 Mar 2019 

March 8 (Reuters) - Bw Offshore Ltd ::BW OFFSHORE: ACQUISITION OF MAROMBA FIELD OFFSHORE BRAZIL.HAS ENTERED INTO AGREEMENT TO ACQUIRE 70% OF MAROMBA FIELD OFFSHORE BRAZIL FOR TOTAL ACQUISITION COST OF $90 MILLION FROM PETROBRAS.ACQUISITION PRICE WILL BE PAID OVER THREE MILESTONES AS DEVELOPMENT PROGRESSES TOWARDS FIRST OIL.ACQUISITION OF REMAINING 30% FIELD INTEREST IS PENDING BOARD APPROVAL BY CHEVRON.  Full Article

BW Offshore may buy Brazil's Maromba oil field
Monday, 4 Mar 2019 

March 4 (Reuters) - BW Offshore Ltd ::CONTEMPLATING FIELD ACQUISITION OFFSHORE BRAZIL.IS CONTEMPLATING TO ENTER INTO AGREEMENTS TO ACQUIRE 100% OF MAROMBA FIELD OFFSHORE BRAZIL FROM PRESENT OWNERS PETROBRAS (70%) AND CHEVRON (30%).CLOSING OF ACQUISITION IS SUBJECT TO BOARD APPROVALS AND FULFILMENT OR WAIVER OF CONDITIONS PRECEDENTS.MAROMBA FIELD IS LOCATED OFF BRAZILIAN COAST IN CAMPOS BASIN IN 160 METRES OF WATER DEPTH, WHERE BW OFFSHORE HAS EXTENSIVE OPERATING EXPERIENCE.COMPANY WILL PROVIDE FURTHER INFORMATION UPON SIGNING OF AGREEMENTS.  Full Article

BW Offshore starts repair of FPSO unit Cidade De Sao Mateus
Tuesday, 20 Nov 2018 

Nov 20 (Reuters) - BW Offshore Ltd ::BW OFFSHORE CEO: THE INTERNAL INVESTMENT ESTIMATE FOR PHASE II AT TORTUE DEVELOPMENT IN THE DUSSAFU LICENSE OFFSHORE GABON IS $275 MILLION.BW OFFSHORE CFO: EXPECTS EBITDA TREND LINE TO CONTINUE UPWARDS.BW OFFSHORE CEO: WE HAVE DECIDED TO REPAIR FPSO UNIT CIDADE DE SAO MATEUS CURRENTLY UNDER CONTRACT WITH PETROBRAS, PLANS TO USE ABOUT $60 MILLION IN FIRST PHASE.THE UNIT HAS NOT BEEN IN OPERATION SINCE AN ACCIDENT IN FEBRUARY 2015.THE STATEMENTS WERE MADE DURING THE COMPANY'S Q3 EARNINGS CALL ON TUESDAY.  Full Article

BW Offshore Q3 EBITDA in line with forecast
Tuesday, 20 Nov 2018 

Nov 20 (Reuters) - BW Offshore Ltd ::Q3 EBITDA $126.4 MILLION (REUTERS POLL $125 MILLION).FIRST OIL AT DUSSAFU ACHIEVED ON 16 SEPTEMBER.INVESTMENT DECISION MADE BY BWO FOR TORTUE PHASE 2.FIRST OIL FROM PHASE 1 OF TORTUE DEVELOPMENT, IN DUSSAFU LICENSE, WAS ACHIEVED 16 SEPTEMBER 2018 BY FPSO BW ADOLO WITHIN BUDGET AND AHEAD OF SCHEDULE WITH NO LOST TIME INCIDENTS.PRODUCTION PERFORMANCE HAS BEEN IN LINE WITH EXPECTATIONS AND IS CURRENTLY STABILISED AT APPROXIMATELY 12,500 BOPD WITHOUT ANY WATER CUT.Q3 NET RESULT $15.6 MILLION (REUTERS POLL $20.8 MILLION).NET PRODUCTION TO BW ENERGY PARTNERSHIP FOR Q3 WAS 111.5 THOUSAND BARRELS OF OIL.COMPANY HAS MADE INVESTMENT DECISION FOR TORTUE PHASE 2 FOLLOWING SUCCESSFUL APPRAISAL PROGRAM ON WESTERN FLANK OF TORTUE FIELD.PHASE 2 INCLUDES DRILLING OF FOUR ADDITIONAL HORIZONTAL DEVELOPMENT WELLS. ORDERS FOR LONG LEAD EQUIPMENT HAVE BEEN PLACED INCLUDING SUBSEA TREES, WELLHEADS, DRILLING CASING AND COMPLETION EQUIPMENT.COMPANY'S INTERNAL ESTIMATE OF 2P GROSS RESERVES FOR TORTUE FIELD PHASE 1 (2 WELLS) AND PHASE 2 (4 WELLS) IS CURRENTLY BETWEEN 30 TO 40 MILLION BARRELS OF OIL EQUIVALENTS, EXCLUDING CONTINGENT RESERVES.EXPECTS INCREASED FOCUS ON INCREMENTAL INVESTMENTS TIED TO EXISTING INFRASTRUCTURE, WITH GREEN-FIELD INVESTMENTS FOLLOWING LATER IN THE CYCLE.THE COMPANY IS CURRENTLY EVALUATING SEVERAL PROSPECTS FOR FIELD DEVELOPMENT, INCLUDING FPSOS.  Full Article

BW Offshore, Panoro Energy start Gabon oil production
Monday, 17 Sep 2018 

Sept 17 (Reuters) - BW Offshore Ltd ::FIRST OIL PRODUCED BY BW ADOLO FPSO.FIRST OIL FROM BW ADOLO FPSO WAS SAFELY ACHIEVED ON 16 SEPTEMBER 2018, 18 MONTHS AFTER INITIAL INVESTMENT WAS MADE IN DUSSAFU LICENSE OFFSHORE GABON.ACHIEVED FIRST OIL FROM DUSSAFU LICENSE WITHIN BUDGET AND ON SCHEDULE.FIRST PRIORITY NOW IS TO COMPLETE START-UP ACTIVITIES AND STABILISE PRODUCTION ON BW ADOLO.WE WILL AT SAME TIME WORK TOWARDS FINAL INVESTMENT DECISION ON TORTUE PHASE 2.PANORO ENERGY IS A PARTNER IN THE FIELD.  Full Article

BW Offshore Announces That FPSO BW Catcher Has Successfully Completed A 168-Hour Performance Test
Thursday, 12 Jul 2018 

July 12 (Reuters) - BW Offshore Ltd ::BW OFFSHORE IS PLEASED TO ANNOUNCE THAT FPSO BW CATCHER HAS SUCCESSFULLY COMPLETED A 168-HOUR PERFORMANCE TEST. FINAL ACCEPTANCE CERTIFICATE IS EXPECTED TO BE RECEIVED AFTER REVIEW BY CATCHER JOINT VENTURE PARTNERS..FPSO IS OPERATING ON A FULL DAY RATE SINCE START OF Q3. ONE-OFF IMPACT FROM START-UP ACTIVITIES ON FINANCIAL RESULT IN Q2 OF 2018 IS EXPECTED TO BE WITHIN PREVIOUS GUIDING..  Full Article

Deals of the day-Mergers and acquisitions

Aug 19 The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday: