Edition:
United States

Statoil ASA (STO.N)

STO.N on New York Stock Exchange

19.76USD
20 Sep 2017
Change (% chg)

$0.13 (+0.66%)
Prev Close
$19.63
Open
$19.75
Day's High
$19.87
Day's Low
$19.65
Volume
448,249
Avg. Vol
472,524
52-wk High
$19.87
52-wk Low
$15.04

Latest Key Developments (Source: Significant Developments)

Statoil says subscriptions cut payable Q1 dividend by $340 million
2:34am EDT 

Sept 21 (Reuters) - Statoil Asa :Subscriptions were made for a total of 18,829,884 dividend shares in Q1 dividend issue, reducing dividend payable by approximately $340 million.Approximately 48 pct of shareholders' total net dividend have been used to subscribe for shares in the issue.  Full Article

Fred. Olsen energy have no rigs employed after October-CEO
Wednesday, 13 Sep 2017 10:30am EDT 

Sept 13 (Reuters) - Fred Olsen Energy ::Fred. Olsen Energy CEO Ivar Brandvold says none of its rigs will have jobs after the last contract with Statoil <<>> runs out in October."We expect more opportunities to occur in the second quarter of 2018. We expect very low activity during the winter," Brandvold told Reuters on the sidelines of an industry conference.He earlier told the conference he expected 2017 to be the worst for the company, but it has been positioning itself for the market's recovery.He said the company preferred to stack its rigs instead of marketing those at the rates that cover only operational costs.Fred. Olsen Energy has seven ultra deepwater and mid-water semi-submersible drilling rig .  Full Article

Norway's Statoil expands South Africa exploration portfolio
Thursday, 7 Sep 2017 06:37am EDT 

Sept 7 (Reuters) - Statoil Asa :Adds exploration licenses in South Africa.Has acquired participating interests in two additional offshore frontier blocks, including one operatorship.Has completed a transaction with exxonmobil exploration and production south africa limited (exxonmobil), acquiring a 35% interest in exploration right 12/3/252 transkei-algoa.Operator exxonmobil retains 40% interest, while impact africa holds 25%.License covers approximately 45,000 square kilometres in water depths up to 3,000 metres.Has also completed a transactionwith ok energy ltd, acquiring 90% interest and operatorship in exploration right 12/3/257 east algoa.Remaining 10% interest is held by ok energy. Licence covers approximately 9,300 square kilometres.Transactions strengthen statoil's position in south africa and our long-term exploration portfolio.This is in line with our global exploration strategy of early access in basins with high potential.Statoil entered its first license in South Africa in 2015, acquiring a 35% interest in the ExxonMobil-operated Tugela South Exploration Right.  Full Article

Statoil says Dudgeon wind farm cost below original budget
Thursday, 7 Sep 2017 03:14am EDT 

Sept 7 (Reuters) - Statoil Asa :Dudgeon wind farm completed at agreed time and below budget of GBP 1.5 billion that was set when investment decision was made in 2014.The there 67 wind turbines with a capacity of 6 MW each installed on the Dudgeon field, and all of them are now producing electricity off the coast of Norfolk in England .Wind farm is able to provide 410,000 homes in England with electricity.  Full Article

Statoil plans further cost cuts at giant Sverdrup oilfield
Monday, 4 Sep 2017 06:55am EDT 

Sept 4 (Reuters) - Statoil Executive Vice President Margareth Oevrum told Reuters on Monday::Statoil has an "internal target" to further cut the cost of developing the first phase of the Johan Sverdrup oilfield in the North Sea.Statoil earlier on Monday announced the first phase of Sverdrup had been cut by 5 billion Norwegian crowns ($640.80 million) on top of earlier reductions nL8N1LL0BE.  Full Article

Statoil says Eagle Ford production back online at reduced rates
Wednesday, 30 Aug 2017 05:55pm EDT 

Aug 30 (Reuters) - Statoil Asa ::Statoil says currently limited by bottlenecks in infrastructure capacity; expects to be back to full production over coming weeks.Statoil says Eagle Ford production back online at curtailed rates; drilling and completion ops resumed Weds.  Full Article

Statoil says Norway's northernmost exploration was disappointing
Tuesday, 29 Aug 2017 02:40am EDT 

Aug 29 (Reuters) - Statoil Asa :Non-commercial gas discovery on korpfjell - non-commercial gas discovery on korpfjell - statoil.com.Results are of course disappointing, but it is too early to draw any conclusions on how this will impact barents sea southeast area.We need further exploration to find out what this implies for total resource potential of barents sea southeast area.Despite an exciting discovery in kayak and traces of oil in gemini north, we have so far not had a direct hit that may result in a new standalone field development.Campaign has however provided important clarifications and new information about resource potential in barents sea.  Full Article

Statoil enters Argentina with Vaca Muerta shale exploration deal
Friday, 25 Aug 2017 07:40am EDT 

Aug 25 (Reuters) - STATOIL ::STATOIL AND YPF <<>> SIGN AN ONSHORE EXPLORATION AGREEMENT FOR VACA MUERTA IN ARGENTINA .STATOIL WILL ENTER BAJO DEL TORO EXPLORATION PERMIT IN NEUQUÉN BASIN AS A PARTNER WITH A 50 % PARTICIPATING INTEREST, WITH OPERATOR YPF RETAINING A 50 % INTEREST.  Full Article

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

BRIEF-Statoil and Eni award Hammerfest helicopter contract to Bristow

* Statoil and Eni have awarded bristow contract for one SAR helicopter, and one transport helicopter in Hammerfest