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Statoil ASA (STO.N)

STO.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Statoil extends contract with Fred. Olsen Energy worth $17 mln
Friday, 19 May 2017 02:14am EDT 

May 19 (Reuters) - Fred Olsen Energy Asa :Statoil <<>> has exercised the option for an additional well with Dolphin Drilling AS, a subsidiary of Fred. Olsen Energy ASA, for use of the semi-submersible drilling unit Bideford Dolphin.The well will be in direct continuation with the upcoming well, which is estimated to be commenced late May. .The contract value for the extension is approximately USD 17.2 million for an estimated drilling campaign of 100 days .  Full Article

Statoil hands Polarled pipeline to Gassco
Thursday, 4 May 2017 06:01am EDT 

May 4 (Reuters) - Statoil Asa :Handing over the Polarled pipeline to Gassco.The 482-kilometre pipeline between Aasta Hansteen field in norwegian sea and nyhamna in møre og romsdal was delivered nok 4.5 billion below budget.The original investment budget for the pipeline project was some NOK 11 billion. When the pipeline is handed over to Gassco the investments have been reduced to NOK 6.5 billion, a 40 percent cost reduction.  Full Article

Statoil Q1 earnings significantly ahead of forecast
Thursday, 4 May 2017 12:43am EDT 

May 4 (Reuters) - Statoil ASA ::Statoil q1 adjusted operating result $3.3 billion (Reuters poll $2.67 billion).Statoil q1 adjusted net result $1.11 billion (Reuters poll $731 million).Statoil says to maintain a dividend of $0.2201 per share in q1 (q4 dividend $0.2201 per share).Statoil q1 operating result $4.3 billion (Reuters poll $2.67 billion).We continue to capture efficiency gains and are on track to deliver an additional billion dollars in annual improvements in 2017.Ifrs net income was usd 1.1 billion in q1.Statoil q1 total oil/gas equity output 2.146 million boed (Reuters poll 2.116 million).Statoil sees organic capex at $11 billion in 2017 versus feb guidance $11 billion.Statoil sees exploration spending at $1.5 billion in 2017 versus feb guidance $1.5 billion.Excluding divestments, underlying production growth was 5% compared to q1 last year.Adjusted exploration expenses in quarter were usd 202 million, down from usd 280 million in q1 of 2016.Sees an additional usd 1 billion in efficiency improvements in 2017 with a total of usd 4.2 billion.Statoil sees 2017 output growth of 4-5 percent versus feb guidance 4-5 percent.Scheduled maintenance activity is estimated to reduce quarterly production by approximately 75 mboe per day in the second quarter of 2017..In total, maintenance is estimated to reduce equity production by around 30 mboe per day for the full fiscal year 2017.  Full Article

Prosafe wins $51-53 mln contract with Statoil at Sverdrup
Wednesday, 26 Apr 2017 12:58am EDT 

April 26 (Reuters) - Prosafe Se :Statoil has awarded Prosafe a contract for the provision of the Safe Zephyrus semi-submersible accommodation vessel for Phase 1 of the Johan Sverdrup hook-up and commissioning project in the Norwegian sector of the North Sea.Contract duration will be one of three scenarios available to Statoil for nomination in early august 2017; either a 12 month firm period from late Q2 2018, or a 12 month firm period from late Q3 2018 with 4 months of options, or lastly 5 months firm from late Q2 2018 plus 6 months of options and 4 months firm from Q2 2019 plus 4 months of options.Value of contract firm period will be between musd 51 and musd 53 including fuel, mobilisation and demobilisation depending on scenario nominated.Revenue generated from provision of catering services is in excess of total value.  Full Article

Dof awarded a 1 year contract extension with Statoil for vessel Skandi Vega
Monday, 24 Apr 2017 03:44am EDT 

April 24 (Reuters) - DOF ASA : :DOF CONTRACT EXTENSION.BEEN AWARDED A 1 YEAR EXTENSION WITH STATOIL FOR VESSEL SKANDI VEGA..CONTRACT WILL COMMENCE IN MID MAY.  Full Article

Statoil says share-based dividend to further strengthen finances in 2017
Tuesday, 18 Apr 2017 02:06am EDT 

April 18 (Reuters) - Statoil Asa :Board proposes continuation of scrip dividend programme.Proposes to the annual general meeting on May 11 to continue the scrip dividend programme through third quarter 2017, in line with the company's original plan.Scrip programme was introduced from Q4 2015 and intended to last for two years.Says board of directors considers further strengthening of Statoil’ financial robustness and capacity to be desirable also through 2017.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.Statoil says scrip dividend discount will be determined at the board of directors’ sole discretion, but for the first quarter to the third quarter 2017 the discount may not exceed 10 percent.  Full Article

Lundin Petroleum gets shareholder, regulatory approval for spin-off
Tuesday, 11 Apr 2017 02:00am EDT 

Lundin Petroleum Ab : Lundin petroleum says has received shareholder approval, regulatory consents to complete reorganisation, spinoff . Lundin petroleum says first day of trading for spun-off firm IPC will be on april 24 on toronto exchange . Lundin petroleum says statoil intends to sell its share in spun-off firm ipc . Lundin petroleum says nemesia, investment vehicle for lundin family, will not sell its shares in ipc, will buy statoil's Further company coverage: [LUPE.ST] (Reporting by Gwladys Fouche) ((gwladys.fouche@thomsonreuters.com;)).  Full Article

Statoil says 51 pct subscribed for shares in Q3 dividend issue
Wednesday, 5 Apr 2017 10:10am EDT 

Statoil Asa : Subscriptions were made for a total of 21,506,370 dividend shares in q3 2016 dividend issue, reducing dividend payable by approximately usd 338 million for company .Approximately 51 pct of shareholders' total net dividend have been used to subscribe for shares in the Dividend Issue.  Full Article

Statoil awards Transocean two rig contracts at around $113 mln offshore UK and Norway
Tuesday, 4 Apr 2017 06:57am EDT 

Statoil Asa : Statoil: Statoil awards Transocean two rig contracts - statoil.com . Statoil and license partners have decided to use semisubmersible rig Transocean Spitsbergen on three exploration wells in UK, and then on a six-well production drilling campaign on Aasta Hansteen licence in Norway . Exploration drilling campaign in UK will be conducted for mariner, jock Scott and Verbier licenses, and is planned to start in summer . Contract value for three fixed wells is estimated at around 18 million usd, which includes integrated drilling services such as fuel, casing running, rov, slop treatment and cuttings handling .Drilling campaign on Aasta Hansteen is planned to start towards end of 2017 or beginning of 2018. Contract value for six fixed wells is estimated at around 95 million usd.  Full Article

Eni to boost Goliat field reserves by 7.5 mln barrels
Thursday, 30 Mar 2017 05:20am EDT 

Norwegian Petroleum Directorate said: Two wells will be drilled from Eni's Goliat field to start production from Snadd discovery . The Snadd reservoir is located between the two reservoirs from which Goliat is already producing (Realgrunnen and Kobbe) . Says Snadd will increase oil reserves on Goliat by 7.5 mln barrels of oil equivalents to about 200 mln barrels . Says operator Eni expects to start production from Snadd in 2017 . Says more prospects which can be tied in to Goliat have been identified in the area, but further studies are needed to determine if they are commercial Source: http://bit.ly/2mRYJzu Further company coverage: [ENI.MI] (Reporting By Nerijus Adomaitis, editing by Terje Solsvik) ((nerijus.adomaitis@thomsonreuters.com;)).  Full Article

More From Around the Web

BUZZ-Statoil CEO eyes tighter oil market if OPEC cuts extended

** Statoil CEO Eldar Saetre told Reuters on Monday about the prospect that OPEC and non-OPEC countries would extend the output cuts they agreed late last year: