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Statoil ASA (STO.N)

STO.N on New York Stock Exchange

18.41USD
18 Aug 2017
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Latest Key Developments (Source: Significant Developments)

BRIEF-Statoil swaps interests with Innogy and SSE in UK offshore wind project
Thursday, 10 Aug 2017 04:06am EDT 

Refiles to correct typo in the headline:SAYS HAS SIGNED A SWAP AGREEMENT WITH INNOGY AND SSE FOR EQUITY INTERESTS IN DOGGER BANK OFFSHORE WIND DEVELOPMENT PROJECT.SAYS FOLLOWING THE TRANSACTION, STATOIL AND SSE WILL OWN 50% EACH IN CREYKE BECK A AND B AND TEESSIDE A, WHILE INNOGY WILL OWN 100% OF TEESSIDE B.DOGGER BANK IS WORLD'S LARGEST OFFSHORE WIND DEVELOPMENT, HAVING ACHIEVED CONSENT FOR AN AGREED TARGET INSTALLED CAPACITY OF 4.8 GW, WITH 1.2 GW CONSENTED FOR EACH OF THE FOUR PROJECTS.SAYS STATOIL AND SSE WILL CONTINUE TO MATURE THREE DOGGER BANK DEVELOPMENT PROJECTS TOWARDS A POTENTIAL CONTRACTS FOR DIFFERENCE AUCTIONS.  Full Article

Statoil installs jacket for Johan Sverdrup riser platform
Monday, 31 Jul 2017 10:51am EDT 

July 31 (Reuters) - STATOIL ASA :SAYS JACKET FOR JOHAN SVERDRUP RISER PLATFORM WAS INSTALLED LAST WEEK.THE TOPSIDE IS SCHEDULED TO BE INSTALLED NEXT YEAR, AND PRODUCTION EXPECTED TO START IN LATE 2019.JOHAN SVERDRUP OILFIELD ESTIMATED TO HOLD BETWEEN TWO AND THREE BILLION BARRELS OF OIL EQUIVALENTS.  Full Article

Statoil CFO says no plans to extend scrip dividend programme
Thursday, 27 Jul 2017 06:02am EDT 

July 27 (Reuters) - STATOIL ASA :STATOIL'S CFO HANS JAKOB HEGGE SAYS THERE ARE NO PLANS TO EXTEND SCRIP DIVIDEND PROGRAMME ENDING IN Q3 2017.SCRIP PROGRAMME WAS INTRODUCED FROM Q4 2015 AND INTENDED TO LAST FOR TWO YEARS.UNDER THE SCRIP DIVIDEND PROGRAMME, THE SHAREHOLDERS MAY CHOOSE TO RECEIVE THE NET DIVIDEND IN EITHER CASH OR NEWLY ISSUED ORDINARY SHARES OR ADRS (AMERICAN DEPOSITARY RECEIPTS) IN THE CASE OF ADR HOLDERS.  Full Article

Statoil CFO sees higher oil prices towards year-end
Thursday, 27 Jul 2017 02:35am EDT 

July 27 (Reuters) - STATOIL :STATOIL CFO HANS JAKOB HEGGE TELLS EARNINGS PRESENTATION TOWARDS THE END OF THE YEAR WE BELIEVE WE WILL SEE HIGHER OIL PRICES THAN WE SEE CURRENTLY.  Full Article

Statoil Q2 results above forecast, sees 2017 production in upper end of guidance range
Thursday, 27 Jul 2017 01:05am EDT 

July 27 (Reuters) - Statoil Asa :Statoil q2 adjusted net result $1.3 million (Reuters poll $1.21 billion) vs $-0.1 mln in Q2 2016.Statoil q2 operating result $3.2 billion (Reuters poll $2.93 billion) vs $180 mln in Q2 2016.Statoil q2 adjusted operating result $3.023 billion (Reuters poll $2.97 billion) vs $913 mln in Q2 2016.Statoil q2 total oil/gas equity output 1,996 million boed (Reuters poll 1.992 million).Statoil says to maintain a dividend of $0.2201 per share in q2 (q1 dividend $0.2201per share).Statoil sees 2017 output growth of 5% percent versus may guidance 4-5 percent above 2016 level.Statoil says aims to improve efficiency by $1 billion in 2017 versus may guidance $1 billion.Project deliveries and efficiency improvements on track.At oil prices around 50 dollars per barrel, we have generated 4 billion dollars in free cash flow, and reduced our net debt ratio by 8.1 percentage points since start of year.We expect to drill around 30 exploration wells in 2017.Statoil sees exploration spending at $1.3 billion in 2017 versus may guidance $1.5 billion.Statoil sees organic capex at $11 billion in 2017 versus may guidance $11 billion.Statoil sees maintenance to reduce equity output by around 30 mboe/day in 2017 versus may guidance of 30 mboe/day.Statoil sees 2016-2020 organic annual output growth of 3 percent versus may guidance 3 percent.  Full Article

Subsea 7 is bidding in recently announced Johan Castberg tenders-CEO
Wednesday, 26 Jul 2017 08:00am EDT 

July 26 (Reuters) - Subsea 7 Sa : :Subsea 7 CEO Jean Cahuzac on Johan Castberg field in Barents Sea: "It (tenders) just came out to the market, so we are bidding there".Johan Castberg's operator Statoil has said it will make a final investment decision on the project late in 2017 nL8N1JN2CX.Subsea 7 CEO on margins in 2H: "Its fair to say we could expect fairly strong margins, depends on how projects settles".  Full Article

ExxonMobil acquires interest in acreage Offshore Suriname
Thursday, 13 Jul 2017 01:00pm EDT 

July 13 (Reuters) - Exxon Mobil Corp ::ExxonMobil acquires interest in acreage offshore suriname.‍Preparations underway to begin exploration activities​.Agreement expands ExxonMobil operated acreage in Guyana-Suriname Basin.Following contract signing, co-venturers are preparing to begin exploration activities, including acquisition and analysis of seismic data.ExxonMobil says unit, Production Suriname B.V., signed a production sharing contract for block 59 with Staatsolie Maatschappij Suriname N.V..ExxonMobil is operator in Acreage Offshore Suriname.‍Exxonmobil and consortium partners Hess and Statoil each hold a third of interest in block​.  Full Article

Statoil awards Seadrill rig contracts for exploration drilling in Santos basin
Thursday, 13 Jul 2017 02:00am EDT 

July 13 (Reuters) - Statoil Asa :statoil: statoil secures drillship for exploration drilling in brazil - statoil.com.Statoil brasil oleo e gas ltda has awarded seadrill rig contracts for exploration drilling in bm-s-8 license in santos basin.Agreement includes two contracts: seadrill offshore as will provide drillship west saturn and seadrill serviços de petroleo limitada will provide services on board.Fixed contract scope includes one exploration well and one drill stem test.  Full Article

Rig firm Seadrill wins $26 mln contract for West Saturn
Thursday, 13 Jul 2017 01:45am EDT 

July 13 (Reuters) - Rig firm Seadrill Ltd :Seadrill announces contract award for the west saturn.Seadrill has secured a firm contract for one well and one drill stem test with Statoil Brasil Óleo e Gas for the West Saturn in Brazil.The contract also includes a number of option wells to be drilled in blocks where Statoil has license and operatorship.West Saturn is expected to commence operations between December 2017 and January 2018. .Backlog for firm portion of contract, is expected to be approximately $26 million.  Full Article

Statoil raises stake in Brazil licence to 76 pct
Wednesday, 12 Jul 2017 01:05am EDT 

July 12 (Reuters) - Statoil Asa :statoil: statoil strengthens position in brazilian licence bm-s-8 - statoil.com.Statoil to acquire qgep's 10% interest in bm-s-8 licence in brazil's santos basin.Total consideration for transaction is usd 379 million.Additional 10% equity will increase statoil's operated interest in licence from 66% to 76%.Statoil estimates recoverable volumes within bm-s-8 licence to be in range of 700 to 1,300 million barrels of oil equivalent.Acquisition is a further expression of our confidence in brazil, a core area for statoil.Transaction supports our strategy to pursue high value and low carbon opportunities.Strengthens statoil's position for operatorship of unitised carcará field.As with 2016 transaction, half of total consideration will be paid upon closing of transaction, with remainder being paid when certain conditions have been met.These are partly related to licence award, but mainly to future unitisation of carcará.Closing is subject to customary conditions, including partner and government approval.  Full Article

Norway authorities stop Greenpeace protests at Arctic well

OSLO Norwegian coast guards stopped Greenpeace from protesting at a site of the country's northernmost exploration well drilled by Statoil, the environmentalist group said on Thursday.