DNO ASA

Oil company DNO aims to boost production in the North Sea by making more acquisitions in the next 12 months after buying British rival Faroe Petroleum earlier this year, its executive chairman said on Wednesday.

Norwegian oil and gas firm DNO eyes new acquisitions in the next 12 months after acquiring formerly London-listed Faroe Petroleum earlier this year, DNO's executive chairman told Reuters on Wednesday.

Norwegian oil and gas firm DNO reported on Wednesday a worse-than-expected operating result in the first quarter after acquiring British rival Faroe Petroleum earlier this year to diversify its operations.

Oil firm DNO raised its spending plan to $650 million for 2019, to take account of fields it recently acquired through the purchase of London-listed Faroe Petroleum, the Norwegian company's chairman said on Wednesday.

Oil firm DNO is looking to buy more assets after its recent takeover of London-listed Faroe Petroleum to further expand its North Sea presence.

Norwegian oil firm DNO, which acquired London-based Faroe Petroleum in January, reported on Thursday a much higher-than-expected quarterly operating profit, and said it would lift its spending significantly in 2019.

Faroe Petroleum's Chief Executive Graham Stewart, Chief Financial Officer Jonathan Cooper and Chief Operating Officer Helge Hammer will resign, Faroe <FPM.L> said on Friday after the company was taken over in a hostile bid by DNO <DNO.OL>.

Norwegian oil company DNO <DNO.OL> has secured control of Faroe Petroleum <FPM.L>, a day after raising its hostile bid for the British company to 641.7 million pounds.

Norwegian oil company DNO ASA <DNO.OL> raised its bid for Britain's Faroe Petroleum <FPM.L> to 641.7 million pounds ($816 million) on Tuesday, lifting its cash offer to 160 pence per share from 152 pence.

Faroe Petroleum's <FPM.L> board told shareholders of the British company to accept a 160 pence per share offer from Norway's DNO <DNO.OL>, whose hostile takeover bid on Wednesday secured DNO's control over Faroe.

Faroe Petroleum's <FPM.L> board told shareholders of the British company to accept a 160 pence per share offer from Norway's DNO <DNO.OL>, whose hostile takeover bid on Wednesday secured DNO's control over Faroe.

Norwegian oil company DNO has raised its stake in Faroe Petroleum to more than 50 percent, it said on Wednesday, satisfying a key condition of its hostile bid for the British competitor.

Norwegian oil company DNO ASA said on Tuesday it raised its cash offer for Faroe Petroleum Plc to 641.7 million pounds ($816.1 million), after the British firm rebuffed its acquisition offer earlier.

Norwegian oil company DNO <DNO.OL> has achieved another slight increase to its stake in Faroe Petroleum <FPM.L>, it said on Friday as it continues its battle for control of the British business.

Norwegian oil company DNO <DNO.OL> said on Thursday that it now requires only 50 percent of Faroe Petroleum <FPM.L> shareholders to back its takeover bid after it lifted its stake in the UK firm, boosting the chances the hostile offer will go through.

Faroe Petroleum <FPM.L> will get its assets valued by oil consultancy Gaffney, Cline & Associates (GCA), it said on Thursday, amid a hostile takeover attempt by DNO <DNO.OL> which has called for such an independent report.

Britain's Faroe Petroleum <FPM.L> reiterated on Thursday its opposition to a hostile bid by Norway's DNO <DNO.OL>, which it said was "inadequate" and substantially undervalued the Aberdeen-based firm.

Britain's Faroe Petroleum reiterated on Thursday its opposition to a hostile bid by Norway's DNO, which it said was "inadequate" and substantially undervalued the Aberdeen-based firm.

Britain's Faroe Petroleum freshly rejected a hostile bid by Norway's DNO on Thursday, which it said was "inadequate" and substantially undervalued the Aberdeen-based firm.