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DNO ASA (DNO.OL)

DNO.OL on Oslo Stock Exchange

9.12NOK
13 Dec 2017
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Latest Key Developments (Source: Significant Developments)

Norway's DNO steps up production at Kurdish Peshkabir oilfield
Monday, 11 Dec 2017 

Dec 11 (Reuters) - Dno Asa ::DNO STEPS UP PRODUCTION FROM PESHKABIR FIELD IN KURDISTAN.‍TODAY ANNOUNCED A TRIPLING OF PRODUCTION FROM PESHKABIR FIELD IN TAWKE LICENSE IN KURDISTAN REGION OF IRAQ TO 15,000 BARRELS OF OIL PER DAY​.‍AS PREVIOUSLY ANNOUNCED, TAWKE LICENSE PARTNERS ARE PROCEEDING WITH FAST TRACK PLANS TO COMMISSION AN EARLY PRODUCTION FACILITY BY YEAREND AND COMPLETE INSTALLATION OF PIPELINE CONNECTIONS EARLY IN 2018 TO ALLOW RAMP UP OF OUTPUT AT PESHKABIR FIELD​.‍PREPARATIONS ARE UNDERWAY TO DRILL PESHKABIR-4 WELL WHICH WILL ALSO BE DESIGNED TO TEST UNDERLYING TRIASSIC RESERVOIR​.‍DNO OPERATES AND HAS A 75 PERCENT INTEREST IN TAWKE LICENSE, WITH PARTNER GENEL ENERGY PLC HOLDING REMAINDER​.‍LICENSE CONTAINS TAWKE AND PESHKABIR FIELDS WHOSE COMBINED YEAR-TO-DATE PRODUCTION HAS AVERAGED 110,000 BOPD​.‍A TOTAL OF 11 ZONES IN A 1.2 KILOMETER HORIZONTAL SECTION OF CRETACEOUS AND JURASSIC RESERVOIR IN PESHKABIR-3 WELL WERE INDIVIDUALLY TESTED AND FLOWED SUCCESSFULLY​.‍OIL ZONES TESTED AN AVERAGE OF 5,340 BOPD PER ZONE ON A 64/64" CHOKE, WITH HIGHEST INDIVIDUAL TEST RATE OF 7,200 BOPD​.‍A MULTI-ZONE COMBINED PRODUCTION TEST TOTALED 12,500 BOPD ON A 128/64" CHOKE FROM FIVE ZONES​.  Full Article

DNO reports $469 mln operating profit for Q3 after Kurdistan deal
Thursday, 9 Nov 2017 

Nov 9 (Reuters) - Dno ASA :Dno q3 revenue $‍​73.0 million (reuters poll $75.9 million).Dno q3 operating result $‍469​ million (reuters poll $28.9 million).Q3 operating profit follows recognition of usd 556 million as other income following receivables settlement agreement with kurdistan regional government in august 2017​.Dno q3 net result $462.7‍​ million (reuters poll $19.9 million).Dno q3 working interest production 74,830‍​ boepd (reuters poll 80,062 boepd).dno's operations in kurdistan continue uninterrupted​.‍with continuing export payments, dno will step up investments in will step up investments at Tawke and Peshkabir fields in kurdistan in 2018 ​.‍announced flow rates of more than 3,000 barrels of oil per day (bopd) from first zone tested in peshkabir-3 well in kurdistan region of iraq, nine other zones and one gas zone have been identified for testing​ in the reservoir.The company applied for norway’s awards in predefined areas (apa) 2017 licensing round in september, targeting participation in five exploration wells per year.Dno sees 2017 capital expenditure unchanged at $130‍​ million.  Full Article

DNO reports first payment under Kurdistan receivables settlement
Monday, 16 Oct 2017 

Oct 16 (Reuters) - Dno Asa :Reports first payment under Kurdistan receivables settlement.Under the agreement effective 1 August 2017, the Company was assigned the Government's 20 percent interest in the Tawke license as well as three percent of gross Tawke license revenues payable monthly over a five-year period.‍payment of $4.02 million to DNO represents three percent of gross tawke license revenues during august​.‍an entitlement invoice for that month's export deliveries has been issued separately and will be shared pro-rata with genel energy plc upon receipt.Following the receivables settlement, DNO's stake in the Tawke license stands at 75 percent with Genel holding the balance​.  Full Article

Kurdistan updates on Kurdistan operations
Wednesday, 12 Oct 2016 

Genel Energy Plc : Kurdistan operational update . Notes announcement from DNO ASA that three new production wells have been completed at Tawke field in Kurdistan region of Iraq . Tawke-31 well, targeting main cretaceous reservoir will be brought on production following an acid stimulation program . Two additional wells targeting shallow jeribe reservoir, Tawke-33 and Tawke-34, are also being readied for production . Further jeribe well, tawke-37, will be spudded next week . Four wells are expected to cost less than $20 million in total and add about 10 percent to field output capacity .Tawke production during q3 averaged 109,159 bopd, of which 108,759 bopd was delivered for export through turkey..  Full Article

Genel Energy notes KRG's July payment on Tawke field
Monday, 3 Oct 2016 

Genel Energy Plc :Notes announcement from DNO ASA that Tawke field partners have got payment of $37.40 million from Kurdistan Regional Government for July.  Full Article

DNO Q2 operating result in line with forecast
Thursday, 18 Aug 2016 

: DNO Q2 revenues $61 million (Reuters poll $62.9 million) . DNO Q2 operating result $16 million (Reuters poll $15.2 million) .DNO says five Tawke production wells, including three deep cretaceous and two shallow jeribe wells, are planned in the second half of 2016 to boost capacity from 120,000 bopd to 135,000 bopd..  Full Article

Gulf Keystone says reviewed DNO ASA's offer; to focus on restructuring
Friday, 29 Jul 2016 

Gulf Keystone Petroleum Ltd : Reviewed DNO ASA's proposal to acquire total share capital of company, which it received by letter late on 28 July 2016 . Gulf Keystone notes that DNO's proposal is conditional upon successful completion of ongoing balance sheet restructuring transaction . Will not engage in any additional process that causes company to be distracted from that objective . Board continues to strongly recommend that shareholders vote in favour of resolution to authorise increase in company's share capital . Board has concluded that completion of restructuring best serves our stakeholders .Company has responded to DNO accordingly..  Full Article

Gulf Keystone confirms receipt of Norway's DNO ASA proposal
Friday, 29 Jul 2016 

Gulf Keystone Petroleum Ltd : Gulf keystone confirms that it has received a proposal from DNO ASA .Board of Gulf Keystone is currently reviewing this proposal and will update market on its response in due course.  Full Article

DNO says expects Tawke production to climb to 135,000 bopd by mid-year
Thursday, 11 Feb 2016 

DNO ASA:Expects Tawke production to climb from 120,000 barrels of oil per day (bopd) to 135,000 bopd by mid-year, with further increases to follow as additional investments made.  Full Article

DNO says received another payment from Kurdish authority
Wednesday, 6 Jan 2016 

DNO ASA:‍Says confirmed receipt of $30 million as partial payment towards oil exported from Tawke field by the Kurdistan Regional Government.‍Says the payment, to be shared pro-rata with tawke license partner Genel Energy plc, is fourth such monthly payment since September 2015​.  Full Article

BRIEF-Norway's DNO steps up production at Kurdish Peshkabir oilfield

* ‍TODAY ANNOUNCED A TRIPLING OF PRODUCTION FROM PESHKABIR FIELD IN TAWKE LICENSE IN KURDISTAN REGION OF IRAQ TO 15,000 BARRELS OF OIL PER DAY​