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Dno ASA (DNO.OL)

DNO.OL on Oslo Stock Exchange

19.74NOK
17 Apr 2019
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Latest Key Developments (Source: Significant Developments)

DNO says 2018 reserve replacement ratio was 100 pct
Monday, 11 Feb 2019 

Feb 11 (Reuters) - DNO ASA ::DNO ANNOUNCES 100 PERCENT RESERVES REPLACEMENT IN 2018.YEAREND 2018 COMPANY WORKING INTEREST (CWI) PROVEN (1P) RESERVES STOOD AT 240 MILLION BARRELS OF OIL (MMBBLS), UNCHANGED FROM YEAREND 2017 AFTER ADJUSTING FOR PRODUCTION AND TECHNICAL REVISIONS.ON A CWI PROVEN AND PROBABLE (2P) RESERVES BASIS, DNO REPLACED 98 PERCENT OF ITS 2018 PRODUCTION, EXITING YEAR WITH CWI 2P RESERVES OF 376 MMBBLS (384 MMBBLS IN 2017).AT 2018 PRODUCTION RATES, DNO'S 1P RESERVES LIFE IS 8.2 YEARS AND ITS 2P RESERVES LIFE IS 12.9 YEARS.COMPANY'S 1P RESERVES REPLACEMENT RATIO (RRR) HAS REACHED OR EXCEEDED 100 PERCENT IN EIGHT OF PAST TEN YEARS.  Full Article

DNO Says Offer By Co For Faroe Unconditional In All Respects
Monday, 14 Jan 2019 

Jan 14 (Reuters) - DNO ASA ::DNO ASA - OFFER BY DNO FOR FAROE NOW UNCONDITIONAL IN ALL RESPECTS, INTENTION TO DE-LIST FAROE FROM AIM.  Full Article

Faroe Petroleum Says CEO COO, CFO Have Decided To Resign
Friday, 11 Jan 2019 

Jan 11 (Reuters) - Faroe Petroleum PLC ::FAROE PETROLEUM PLC - DIRECTORATE CHANGE.FAROE PETROLEUM - GRAHAM STEWART, JONATHAN COOPER AND HELGE HAMMER HAVE GIVEN THREE MONTHS' NOTICE OF TERMINATION OF THEIR EMPLOYMENT WITH COMPANY.FAROE - EXECUTIVE DIRECTORS STATED INTENTION TO RESIGN FROM ALL DIRECTORSHIPS, OTHER OFFICES WHICH THEY HOLD WITH CO & ALL OF ITS UNITS.  Full Article

DNO Raises Stake In Faroe Petroleum To 29.9 Pct
Thursday, 20 Dec 2018 

Dec 20 (Reuters) - DNO ASA ::DNO ASA FAROE PETROLEUM PLC - DNO INCREASES FAROE PETROLEUM STAKE TO 29.90%.DNO ASA - HAS ACQUIRED 6.2 MILLION SHARES IN FAROE PETROLEUM PLC AT A WEIGHTED AVERAGE PRICE OF 151.95 PENCE PER SHARE.DNO ASA - FOLLOWING TRANSACTIONS, DNO OWNS 111,494,018 SHARES REPRESENTING 29.90 PERCENT OF OUTSTANDING SHARES IN FAROE.  Full Article

DNO ASA Offers To Buy Faroe Petroleum For 152 Pence Per Share
Monday, 26 Nov 2018 

Nov 26 (Reuters) - DNO ASA ::CASH OFFER FOR FAROE PETROLEUM PLC.OFFER TO BE MADE BY DNO FOR FAROE PETROLEUM PLC WILL BE 152 PENCE IN CASH FOR EACH FAROE SHARE.OFFER VALUING FAROE'S EXISTING ISSUED AND TO BE ISSUED SHARE CAPITAL AT APPROXIMATELY £607.9 MILLION.OF OFFER VALUE OF APPROXIMATELY £443.8 MILLION ON A FULLY DILUTED BASIS, £402.6 MILLION IS ATTRIBUTABLE TO CURRENT ISSUED SHARE CAPITAL OF FAROE.  Full Article

DNO reports $47.23 mln payment for Tawke Deliveries
Thursday, 24 May 2018 

May 24 (Reuters) - Dno Asa ::REG-DNO REPORTS PAYMENT FOR TAWKE DELIVERIES.RECEIPT OF $47.23 MILLION FROM KURDISTAN REGIONAL GOVERNMENT AS PAYMENT FOR FEB 2018 CRUDE OIL DELIVERIES TO EXPORT MARKET FROM TAWKE LICENSE.FUNDS WILL BE SHARED BY DNO AND PARTNER GENEL ENERGY PLC PRO-RATA TO COMPANIES' INTERESTS IN LICENSE.SEPARATELY A PAYMENT OF $4.51 MILLION FROM KURDISTAN REGIONAL GOVERNMENT HAS BEEN RECEIVED NET TO DNO.  Full Article

Oil firm DNO'S Q1 earnings lag forecast
Thursday, 26 Apr 2018 

April 26 (Reuters) - DNO Asa ::DNO EXPANDS AND ACCELERATES KURDISTAN OPERATIONS WHILE BUILDING UP NORTH SEA EXPOSURE; REPORTS ROBUST FIRST QUARTER 2018 RESULTS.DNO Q1 REVENUE $142 MILLION (REUTERS POLL $138 MILLION).EXITED QUARTER WITH CASH BALANCES OF USD 518 MILLION PLUS USD 76 MILLION IN TREASURY SHARES AND MARKETABLE SECURITIES.DNO Q1 OPERATING RESULT $25 MILLION (REUTERS POLL $55 MILLION).DNO Q1 NET RESULT $18.4 MILLION (REUTERS POLL $47 MILLION).DNO Q1 WORKING INTEREST PRODUCTION 79,100 BOEPD (REUTERS POLL 79,918 BOEPD).SAYS ACTIVELY PURSUING ADDITIONAL EXPOSURE TO NORWEGIAN CONTINENTAL SHELF, INCLUDING EXPLORATION, DEVELOPMENT AND PRODUCTION ASSETS.SAYS HAS 28.71 PERCENT OF FAROE PETROLEUM <<>>.  Full Article

DNO received KRG December payment
Thursday, 22 Mar 2018 

March 22 (Reuters) - Dno Asa ::DNO REPORTS PAYMENT FOR TAWKE DELIVERIES.‍TODAY REPORTED RECEIPT OF USD 62.46 MILLION FROM KURDISTAN REGIONAL GOVERNMENT AS PAYMENT FOR DECEMBER 2017 CRUDE OIL DELIVERIES​.‍FUNDS WILL BE SHARED BY DNO AND PARTNER GENEL ENERGY PLC PRO-RATA TO COMPANIES' INTERESTS IN LICENSE​.‍DNO OPERATES AND HAS A 75 PERCENT INTEREST IN TAWKE LICENSE, WHICH CONTAINS TAWKE AND PESHKABIR FIELDS​.‍COMBINED PRODUCTION FROM TWO FIELDS IN DECEMBER AVERAGED 109,903 BARRELS OF OIL PER DAY​.  Full Article

DNO Q4 below forecast, plans to raise production and spending
Thursday, 8 Feb 2018 

Feb 8 (Reuters) - Oil firm DNO ASA ::DNO RAMPING UP KURDISTAN INVESTMENTS; REPORTS STRONG 2017 RESULTS.DNO Q4 REVENUE $116‍​ MILLION (REUTERS POLL $120 MILLION).DNO Q4 OPERATING RESULT $25.7‍​ MILLION (REUTERS POLL $49 MILLION).DNO Q4 NET RESULT $30.6‍​ MILLION (REUTERS POLL $43.9 MILLION).THE FAST TRACKED DEVELOPMENT OF PESHKABIR FIELD WITH TWO WELLS CURRENTLY PRODUCING A TOTAL OF 16,000 BARRELS OF OIL PER DAY (BOPD) AND COMMINGLED FOR EXPORT WITH ANOTHER 97,000 BOPD FROM OTHER DNO-OPERATED FIELD, TAWKE,​.‍A TOTAL OF SIX PESHKABIR WELLS WILL BE DRILLED THIS YEAR WITH FIELD PRODUCTION EXPECTED TO REACH 30,000 BOPD BY SUMMER AND CONTINUE TO RAMP UP IN SECOND HALF OF YEAR​.AT YEAR-END 2017, NET CASH POSITION OF USD 30 MILLION VERSUS NET DEBT OF USD 139 MILLION AT END-2016‍​.‍AT TAWKE FIELD, PLANS ARE BEING FINALIZED WITH PARTNER GENEL ENERGY PLC TO DRILL FOUR WELLS IN 2018, IN ADDITION TO CURRENTLY DRILLING TAWKE-48 WELL SLATED FOR COMPLETION BY END-FEBRUARY​.‍ELSEWHERE IN KURDISTAN, DNO HAS RE-ENTERED AND SIDETRACKED HAWLER-1 WELL TO APPRAISE BENENAN HEAVY OIL FIELD IN ERBIL LICENSE​.DNO Q4 WORKING INTEREST PRODUCTION ‍​74,033 BOEPD (REUTERS POLL 78,726 BOEPD).PROJECTED 2018 ANNUAL CAPEX AT USD 150 MILLION.DNO SAYS ACTIVELY PURSUING ADDITIONAL NORWEGIAN STAKES, INCLUDING EXPLORATION, DEVELOPMENT AND PRODUCTION ASSETS.SEES TOTAL SPENDING IN 2018 (INCLUDING CAPEX, OPEX AND LIFTING) AT $340 MILLION VERSUS $259 MILLION IN 2017.  Full Article

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

Private equity Seacrest in talks to sell N.Sea oil firm Azinor -sources

LONDON, March 27 Private equity fund Seacrest Capital is in talks to sell part or all of its British North Sea-focused oil exploration firm Azinor Catalyst, which could fetch between $60-$100 million, having received unsolicited offers for it, banking and industry sources said.