Key Developments: Fred Olsen Energy ASA (FOEAY.PK)

FOEAY.PK on OTC Markets Group

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9 Jan 2015
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Latest Key Developments (Source: Significant Developments)

Fred Olsen Energy ASA gets $2 billion loan
Thursday, 26 Jun 2014 07:43am EDT 

Fred Olsen Energy ASA:Agrees a $2 billion, six-year loan to repay its existing bank loan and fully-finance the construction of drilling rig Bollsta Dolphin.Says the financing, which will also be used for general corporate purposes is being provided by Nordea, ING Bank, ABN Amro, Danske Bank, DNB, Handelsbanken, SEB and Swedbank as mandated lead arranger, and Norwegian export credit agency GIEK/Eksportkreditt.  Full Article

Fred Olsen Energy ASA's subsidiary takes delivery of Bolette Dolphin
Friday, 21 Feb 2014 02:29am EST 

Fred Olsen Energy ASA:Says Bolette Dolphin Pte. Ltd., a subsidiary of the company, has on Feb. 21 taken delivery of the ultra-deepwater drillship Bolette Dolphin from Hyundai Heavy Industries Co., Ltd.Says the drillship will shortly mobilize to West Africa to commence drilling operations for Anadarko Petroleum Corporation.  Full Article

Fred Olsen Energy ASA completes senior unsecured bond issue
Friday, 14 Feb 2014 02:50am EST 

Fred Olsen Energy ASA:Completes a new senior unsecured bond issue of 1,100 million Norwegian crowns in the Norwegian bond market.Says the maturity date of the bonds is Feb. 2019.Says the bonds are priced at three months NIBOR plus 3.00 percent.Settlement date is expected to be Feb. 28.Says application will be made for the bonds to be listed on the Oslo Bors.The proceeds will be used for general corporate purposes.  Full Article

Fred Olsen Energy contemplates bond issue
Thursday, 13 Feb 2014 03:00am EST 

Fred Olsen Energy ASA:Contemplates to issue a new five-year senior unsecured bond in the Norwegian market.Says the proceeds will be used for general corporate purposes.Says Danske Bank Markets, DNB Markets, SEB and Swedbank are acting as Joint Lead Managers for the issuance.  Full Article

Fred Olsen Energy proposes to pay ordinary and extra dividend for FY 2013
Tuesday, 11 Feb 2014 02:00am EST 

Fred Olsen Energy ASA:Proposes to pay 10 Norwegian crowns in ordinary dividend and an extraordinary dividend of 10 Norwegian crowns per share for FY 2013.Paid the same ordinary and extraordinary dividend for FY 2012.  Full Article

Yinson Production completes voluntary offer for shares in Fred Olsen Energy
Friday, 20 Dec 2013 04:27am EST 

Fred Olsen Energy ASA (FOP):Says Yinson Production Limited's voluntary tender offer to acquire all outstanding shares in the company has been completed.Says following the settlement, the offeror owns 102,823,421 shares, equaling 97.1 percent of the outstanding shares and votes in FOP.Says the offeror intends to initiate a compulsory acquisition of the remaining shares in the company not owned by the offeror.Says it is expected that a compulsory acquisition of the remaining shares will be effectuated mid-Jan. 2014.Says Arctic Securities ASA acts as Receiving Agent in respect of the offer, and Financial Advisor to the offeror.  Full Article

Fred Olsen Energy ASA's subsidiary enters into contract with Chevron North Sea Ltd
Thursday, 19 Dec 2013 02:45am EST 

Fred Olsen Energy ASA:Says its subsidiary Dolphin Drilling Ltd has entered into a contract for a minimum period of 572 days with Chevron North Sea Ltd for work in the United Kingdom sector of the North Sea with the semi -submersible Blackford Dolphin.Says the contract is scheduled to commence early in the second quarter of 2015 in direct continuation from previously announced contracts with the Blackford Dolphin.Says the estimated contract value is approximately $ 255 million including certain rig upgrades of approximately $ 11 million.Says Chevron has an option to extend the contract for a further period of between 300 and 700 days.  Full Article

Fred Olsen Energy ASA's Subsidiary Enters into Letter of Intent for Blackford Dolphin
Friday, 12 Jul 2013 02:45am EDT 

Fred Olsen Energy ASA announced that its subsidiary Dolphin Drilling Ltd has entered into a letter of intent for the award of a nine-month contract in the United Kingdom sector with the semi-submersible Blackford Dolphin. The letter of intent remains subject to finalization of a mutually acceptable contract agreement. The contract will follow in direct continuation from the previously announced contracts with MPX North Sea Ltd and Capricorn Ireland Ltd and is expected to commence around the third quarter of 2014. The estimated contract value for the nine-month period is approximately USD 115 million.  Full Article

Fred Olsen Energy ASA's Subsidiary Receives New Drilling Contracts
Tuesday, 9 Jul 2013 02:45am EDT 

Fred Olsen Energy ASA announced that the Company's subsidiary, Dolphin Drilling Ltd., has entered into contracts with MPX North Sea ltd for one well in the United Kingdom (UK) sector and Capricorn Ireland Ltd (a wholly owned subsidiary of Cairn Energy PLC) for one well offshore Ireland with the semi-submersible Blackford Dolphin. The first well in the UK is due to commence early first quarter 2014 following the rig's mobilisation from Brazil and completion of its five year class survey. The combined contract duration with MPX and Capricorn is expected to be around five months. The estimated total contract value is approximately USD 67 million.  Full Article

Fred Olsen Energy ASA Receives Contract Extension for Bredford Dolphin
Friday, 28 Jun 2013 02:45am EDT 

Fred Olsen Energy ASA announced that an AGR coordinated group of four oil companies has exercised the option for four additional wells with Dolphin Drilling AS, a subsidiary of Fred Olsen Energy ASA, for use of the semi-submersible drilling unit Bredford Dolphin. The wells will be in direct continuation with the upcoming contract. The contract value for the exercised option is approximately USD 104.5 million for an estimated drilling program of four wells estimated to 240 days. The operators have the right to extend the contract with minimum five additional wells within contact commencement.  Full Article

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