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AKER.OL on Oslo Stock Exchange

21 Apr 2017
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Latest Key Developments (Source: Significant Developments)

Partners to invest $199 mln to extend Tambar field lifetime-Aker BP
Thursday, 30 Mar 2017 06:14am EDT 

Aker BP : Says license partners to invest about 1.7 billion Norwegian crowns ($199.36 million) in Tambar field to extend its lifetime by 10 years from 2018 until 2028 . Says targets reserves of 27 million barrels of oil equivalents (boe), with Aker BP's share of 15 million boe . Says expects to produce extra 4,000-6,000 barrels a day over several years . Says breakeven price for Tambar development is under $20 a barrel . Says drilling rig Maersk Interceptor will drill two infill wells starting in Q4 2017 . Says production from new wells is scheduled to start in the first half of 2018 .Aker BP has 55 pct stake in the license, and Faroe Petroluem holds the rest.  Full Article

Aker-CEO buys 200,000 shares in Ocean Yield
Thursday, 2 Mar 2017 12:17pm EST 

Ocean Yield Asa : Erøy AS, a company controlled by Øyvind Eriksen, President and CEO of Aker ASA, the majority shareholder of Ocean Yield ASA has today acquired 200,000 shares in the Company at a purchase price of NOK 61.3534 per share. . Following this transaction, Erøy AS holds 200,000 shares in the Company, constituting 0.13% of the Company's shares and votes. . Laffen Holding AS, a company controlled by Olav Revhaug, general manager of TRG AS, Aker ASA's majority shareholder, has today acquired 100,000 shares in the Company at a purchase price of NOK 61.3534 per share. . Following this transaction, Laffen Holding AS holds 200,000 shares in the Company, constituting 0.13% of the Company's shares and votes. .  Full Article

Norway's Aker on lookout for deals in oil sector
Tuesday, 28 Feb 2017 01:00am EST 

Aker says: Net asset value NOK 34.3 billion (NOK 29.8 billion in Q3 2016) . Proposes a payment of NOK 16 per-share ordinary cash dividend for 2016. . Proposal corresponds to a 5.0 per cent yield to share price and 3.5 per cent of NAV at close of 2016. . Policy is to pay annual dividends of 2-4 per cent of company's nav. . Pretax loss NOK 1.62 billion (versus restated loss NOK 49 million in Q4 2015) .Says "remains positive about the longer-term outlook for oil and gas and will therefore continue to seek countercyclical investment opportunities in the sector".  Full Article

Aker BP says to produce up to 135,000 boed in 2017 vs 118,200 in 2016
Monday, 16 Jan 2017 01:10am EST 

Aker BP Asa : Increases reserves and maintains very good results in exploration, drilling and wells, projects and production . 2017 production is expected to increase to between 128,000 and 135,000 boepd, with an average production cost of 11 usd/boe . In 2016, Aker BP's production was 118,200 barrels of oil equivalents per day (boepd), about 80 per cent oil and 20 per cent gas . With current portfolio, company has potential to produce 270,000 boepd in 2023 (from both sanctioned and non-sanctioned projects), representing a compound average growth rate of 12 percent . Company's recorded p50 reserves have grown to 711 million boe at end of 2016 and contingent resources were estimated at 600 million boe at year-end 2016, an increase of 84% from previous year . Plans investments (capex) of usd 900-950 million in 2017 . Exploration expenses (expex) are expected to be between usd 280-300 million, while decommissioning expenditures (decom) are estimated at usd 100-110 million in 2017 . Ambition is to sustain a dividend of minimum usd 250 million per year in medium term and to increase dividend level once johan sverdrup is in production . Ambition is to be a leading exploration player on norwegian continental shelf and has an ambition to discover a net 250 million boe in 2016 - 2020 period . Last year, projected net resource growth proved 83 million boe as a result of exploration activity.  Full Article

Aker BP starts production at Norway's Ivar Aasen oilfield
Saturday, 24 Dec 2016 08:21am EST 

Norway's Aker BP said: First oil is produced at Ivar Aasen field in the North Sea. Start-up is according to plan, and development is completed within budget . Licence holders: Aker BP 34.7862 pct, Statoil Petroleum 41.4730 pct, Bayerngas Norge 12.3173 pct, Wintershall Norge 6.4651 pct, VNG Norge 3.0230 pct, Lundin Norway 1.3850 pct, OKEA 0.5540 pct .The company did not give details on the initial output. It has previously said it expects Ivar Aasen production at 35,000 barrels per day in 2017 and to reach a maximum of 70,000 barrels in 2018 [nL8N1DU3OC].  Full Article

Aker BP says post-2020 output could more than double vs 2016
Monday, 21 Nov 2016 02:29am EST 

Oslo-listed oil firm Aker BP made the following statements ahead of a strategy update in Oslo on Monday: Sees potential for outout to reach 250 mboepd post-2020, up from an expected 118-120 mboepd in 2016 .Repeats the 2016 guidance on capex, exploration expenditure, oil/gas output and production costs that was given on Oct 31.  Full Article

Aker BP merger completed, plans Q4 dividend
Friday, 30 Sep 2016 09:35am EDT 

Det Norske Oljeselskap Asa : Det norske oljeselskap says has completed the closing of the merger with BP Norge and the subsequent establishment of Aker BP ASA .Says company is on track with the integration process and reiterates the ambition of a quarterly dividend for the fourth quarter of 2016.  Full Article

Ocean Yield: Kjell Inge Røkke buys 100,800 shares at average of NOK 64.66/shr
Friday, 30 Sep 2016 02:00am EDT 

Ocean Yield ASA : Kjell Inge Røkke has acquired 100,800 shares in Ocean Yield at an average price of 64.66 Norwegian crowns ($8) per share . Following deal, Røkke owns directly 280,800 shares in Ocean Yield .Together with his wife, Røkke controls 68.18 percent of shares in Aker ASA , which again controls 66.29 percent of outstanding shares in Ocean Yield.  Full Article

Ocean Yield raises $103 in private share placement
Thursday, 1 Sep 2016 12:26am EDT 

Ocean Yield Asa : NOK 862 million ($103.45 million) private placement fully subscribed . subscription price of NOK 64 per share vs Wednesday closing of NOK 67 on the Oslo Bourse . Due to strong demand, Aker has been allocated zero new shares in order to give priority to other investors to improve the overall free float in the share . "important milestone in our efforts to build Ocean Yield into a substantially larger company. The share issue will also contribute to increase the free float in the Ocean Yield share, making it even more attractive for larger investors" .Danske Bank, DNB Markets, Nordea Markets, Pareto Securities and Skandinaviska Enskilda Banken have acted as Joint Lead Managers in the Private Placement.  Full Article

Aker net asset value rises to NOK 24.7 billion in Q2
Tuesday, 19 Jul 2016 12:59am EDT 

Aker Asa : Aker q2 net asset value nok 24.7 billion (nok 19.7 billion in q1 2016) .Aker Q2 pretax profit NOK 300 mln (NOK 343 mln in Q2 2015).  Full Article

More From Around the Web

Aker owner Roekke says Aker Solutions, Kvaerner may do M&A in 2017

OSLO Norwegian billionaire investor Kjell Inge Roekke aims to change the ownership of one of more of his companies in the oil services industry this year, he wrote in his annual letter to shareholders on Friday.