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Statoil ASA (STO.N)

STO.N on New York Stock Exchange

15.84USD
28 Jul 2016
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Latest Key Developments (Source: Significant Developments)

Statoil CEO sees "clear signs" heading to balanced oil market
Wednesday, 27 Jul 2016 03:23am EDT 

: Statoil CEO Eldar Saetre says we see clear signs that we are on our way to a balanced oil market . Statoil CEO says we believe the oil market will be balanced in the course of this year Further company coverage: [STL.OL] (Reporting By Stine Jacobsen, editing by Alister Doyle) ((stine.jacobsen@thomsonreuters.com;)).  Full Article

Statoil CFO says debt ratio will increase if oil price stays at current level
Wednesday, 27 Jul 2016 03:17am EDT 

: Statoil CFO Hans Jakob Hegge says if oil prices we see now continue, then our debt ratio will increase with current investment programme . Statoil CFO repeats sees dividend at same level for Q3 than in Q2 Further company coverage: [STL.OL] (Reporting By Ole Petter Skonnord, editing by Alister Doyle) ((olepetter.skonnord@thomsonreuters.com;)).  Full Article

BRIEF-Statoil Q2 lags forecast, cuts 2016 capex outlook
Wednesday, 27 Jul 2016 01:28am EDT 

Statoil : Q2 adjusted net result $-28 million (Reuters poll $295 million) . Q2 total oil/gas equity output 1.96 million boed (Reuters poll 1.91 million) . Q2 adjusted operating profit $913 million (Reuters poll $1.40 billion) . Statoil asa says is lowering its capex guidance for 2016 from usd 13 billion to usd 12 billion and its exploration guidance for 2016 from usd 2 billion to usd 1.8 billion . Statoil asa says production guidance remains unchanged, and expected annual organic production growth is 1% from 2014 to 2017 . Tax cash flow effects of around usd 2.5 billion from 2016 . Statoil asa repeats maintenance is estimated to reduce equity production by around 60 mboe per day for the full fiscal year 2016, which is higher than the 2015 impact . Statoil proposes q2 dividend of $0.2201 per share in line with own forecast (q1 dividend $0.2201 per share) . Statoil asa says shareholders will have option to receive dividend for q2 in cash or newly issued shares in statoil at a 5% discount . Statoil asa says scheduled maintenance activity is estimated to reduce quarterly production by approximately 115 mboe per day in the third quarter of 2016 . Statoil asa says adjusted net debt to capital employed of 31.2%.  Full Article

Statoil Q2 lags forecast, cuts 2016 capex outlook
Wednesday, 27 Jul 2016 12:57am EDT 

Statoil Asa : Q2 adjusted net result $-28 million (Reuters poll $295 million) . Q2 total oil/gas equity output 1.96 million boed (Reuters poll 1.91 million) . Q2 adjusted operating profit $913 million (Reuters poll $1.40 billion) . Statoil asa says is lowering its capex guidance for 2016 from usd 13 billion to usd 12 billion and its exploration guidance for 2016 from usd 2 billion to usd 1.8 billion . Statoil asa says production guidance remains unchanged, and expected annual organic production growth is 1% from 2014 to 2017 . Tax cash flow effects of around usd 2.5 billion from 2016 . Statoil asa repeats maintenance is estimated to reduce equity production by around 60 mboe per day for the full fiscal year 2016, which is higher than the 2015 impact . Statoil proposes q2 dividend of $0.2201 per share in line with own forecast (q1 dividend $0.2201 per share) . Statoil asa says shareholders will have option to receive dividend for q2 in cash or newly issued shares in statoil at a 5% discount . Statoil asa says scheduled maintenance activity is estimated to reduce quarterly production by approximately 115 mboe per day in the third quarter of 2016 . Statoil asa says adjusted net debt to capital employed of 31.2% .In q2 statoil made two discoveries on norwegian continental shelf (ncs) and one in canada.  Full Article

Eidesvik Offshore wins contract from Statoil
Thursday, 21 Jul 2016 05:50am EDT 

Eidesvik Offshore ASA : Statoil has awarded the supply vessel Viking Princa a 6 month contract . Terms are in accordance with current market conditions .Commencement is ultimo August 2016.  Full Article

Solstad Offshore signs contract extension with Statoil
Monday, 18 Jul 2016 06:51am EDT 

Solstad Offshore ASA : Statoil has declared its option to extend AHTS Normand Ferking with one year from September 2016 . This is the first out of total of three yearly options .Commercial terms are confidential between parties.  Full Article

Valeura says no impact on personnel or operations from attempted coup in Turkey
Monday, 18 Jul 2016 12:14am EDT 

Valeura Energy : Good progress being made to complete definitive transaction documents under agreement with Statoil for farm-out on banarli licences .Valeura confirms no impact to date on personnel or operations from attempted coup in Turkey and provides operational update.  Full Article

Rig firm Fred. Olsen Energy posts unexpected Q2 operating loss
Thursday, 14 Jul 2016 02:00am EDT 

: Q2 revenues $219 million (Reuters poll $218 million) . Q2 EBITDA $143 million (Reuters poll $136 million) . Q2 EBIT $-96 million (Reuters poll $59 million) . Says Statoil suspends Bideford Dolphin rig for Q3 2016 . Says expects demand and supply imbalance to continue through 2016, though some recovery is expected in 2017 .The consequences are continued pressure on day-rates, shorter contract durations and increased number of lay-ups and scrapping, in general affecting all market segments..  Full Article

Statoil completes Marcellus shale divestment to EQT
Monday, 11 Jul 2016 02:06am EDT 

Statoil says: On July 8 Statoil and EQT Corporation completed their previously announced transaction, whereby Statoil has sold its non-core operated assets in the US state of West Virginia to EQT Corporation. . The transaction covers approximately 62,500 net acres. . Equity production from properties in Q1 2016 was c.9,300 barrels of oil equivalent per day. . Statoil retains its operated properties in the U.S. state of Ohio and its non-operated Marcellus positions. Further company coverage: [STL.OL] (Reporting by Gwladys Fouche) ((gwladys.fouche@thomsonreuters.com;)).  Full Article

Statoil completes purchase of UK Utgard licence
Tuesday, 28 Jun 2016 02:05am EDT 

Statoil Asa : Completes transaction in UK licence for Utgard field . Statoil and JX Nippon completed their previously announced transaction whereby Statoil has acquired JX Nippon’s 45% equity share in, and operatorship of, the UK licence for the Utgard field . Through this transaction Statoil now has a 100% interest in UK Continental Shelf licence P312 which, with Norwegian Continental Shelf licence PL046, comprises the Utgard field . Statoil is the operator in PL046 with a 62% holding . final investment decision for Utgard is planned before end-2016 with production start-up in 2020 Further company coverage: [STL.OL] (Reporting By Terje Solsvik) ((terje.solsvik@thomsonreuters.com;)).  Full Article

UPDATE 3-Statoil second quarter lags forecasts, cuts 2016 capex outlook

* Maintains dividend at $0.2201 per share (Adds analysts, updates shares)