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Aker BP ASA (AKERBP.OL)

AKERBP.OL on Oslo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Aker BP made bigger-than-expected oil discovery near Alvheim
Monday, 19 Feb 2018 01:50am EST 

Feb 19 (Reuters) - Aker Bp Asa ::EXPLORATION SUCCESS IN PL340 NEAR ALVHEIM.‍WELL HAS PROVED OIL. PRELIMINARY ANALYSIS INDICATE A DISCOVERY SIZE OF 30-60 MILLION BARRELS OF OIL EQUIVALENTS​.DISCOVERY IS ‍SIGNIFICANTLY MORE THAN COMPANY'S PRE-DRILL ESTIMATES OF 3-21 MMBOE​.‍DISCOVERY ALSO HAS A POSITIVE IMPACT ON ASSESSMENT OF FURTHER EXPLORATION POTENTIAL IN AREA​.‍FROSK IS LOCATED IN PL340, WHICH ALSO CONTAINS BØYLA FIELD. BØYLA HAS BEEN PRODUCING OIL SINCE 2015 THROUGH A SUBSEA INSTALLATION TIED BACK TO ALVHEIM FPSO​.‍FROSK DISCOVERY ADDS SIGNIFICANT VOLUME AND VALUE TO OUR RESOURCE BASE, AND PROVIDES AN IDEAL BASIS FOR ANOTHER PROFITABLE EXPANSION PROJECT​.‍IS OPERATOR OF PL340 WITH A 65 PERCENT WORKING INTEREST. PARTNERS ARE POINT RESOURCES WITH 20 PERCENT AND LUNDIN PETROLEUM WITH 15 PERCENT​.  Full Article

Aker ASA raises 2017 dividend to NOK 18/share as net asset value jumps
Friday, 16 Feb 2018 11:31am EST 

Feb 16 (Reuters) - Aker Asa ::NET ASSET VALUE UP BY 20.4 PER CENT TO NOK 41.8 BILLION - CASH DIVIDEND OF NOK 18 PER SHARE PROPOSED.Q4 NET ASSET VALUE NOK ‍41.8​ BILLION (NOK 34.7 BILLION IN Q3 2017).AKER PROPOSES DIVIDEND OF NOK ‍18​ PER SHARE FOR 2017 (VERSUS NOK 16 PER SHARE IN 2016).AKER Q4 PRETAX RESULT NOK 294‍​ MILLION ( VERSUS NOK 266 MILLION IN Q4 2016).AKER ASA - ‍STRONG UNDERLYING PERFORMANCE IN OUR PORTFOLIO COMPANIES, INCREASED UPSTREAM CASH FLOW TO AKER, M&A AND IMPROVED OUTLOOK IN OIL AND GAS HAVE BEEN MAIN CONTRIBUTORS TO POSITIVE DEVELOPMENT. IN 2018, WE WOULD LIKE TO SEE MORE OF SAME​.AKER ASA SAYS AKER BP CONTINUES TO EVALUATE NEW INVESTMENT OPPORTUNITIES. HENCE, AKER EXPECTS EVEN HIGHER DIVIDENDS FROM AKER BP IN THE YEARS TO COME AS PRODUCTION GROWS ORGANICALLY AND INORGANICALLY‍​.AKER ASA SAYS AKER BP CONTINUES TO EVALUATE NEW INVESTMENT OPPORTUNITIES. HENCE, AKER EXPECTS EVEN HIGHER DIVIDENDS FROM AKER BP IN THE YEARS TO COME AS PRODUCTION GROWS ORGANICALLY AND INORGANICALLY‍​.AKER ASA SAYS IMPROVING PROFITABILITY WILL BE A PRIORITY FOR AKER BIOMARINE UNIT IN 2018‍​.AKER ASA SAYS OCEAN YIELD SHOULD CONTINUE TO DIVERSIFY PORTFOLIO IN 2018.AKER ASA: LONGER TERM, AKER REMAINS POSITIVE ABOUT THE OUTLOOK FOR OIL AND GAS AND WILL THEREFORE CONTINUE TO EVALUATE STRATEGIC ALTERNATIVES AND OPPORTUNITIES IN THE SECTOR.  Full Article

Kvaerner wins two contracts for disposal of platforms
Monday, 5 Feb 2018 06:33am EST 

Feb 5 (Reuters) - Kvaerner Asa ::KVAERNER AWARDED TWO CONTRACTS FOR DISPOSAL OF PLATFORMS.KVAERNER HAS ENTERED INTO AN AGREEMENT WITH ALLSEAS FOR THE RECYCLING OF THE TOPSIDE AND BRIDGE OF THE 36-YEAR-OLD VALHALL QP PLATFORM WHEN ALLSEAS REMOVES THIS INSTALLATION FOR OPERATOR AKER BP IN 2019.KVAERNER HAS ALSO SIGNED A CONTRACT WITH SAIPEM UK FOR DISPOSAL OF THE VARG A INSTALLATION.THE STRUCTURES WILL BE DECONSTRUCTED DURING WINTER 2019 AND SPRING 2020.  Full Article

Aker BP expects Sverdrup cost to fall as contingency cut
Friday, 2 Feb 2018 03:10am EST 

Feb 2 (Reuters) - Aker BP CEO Karl Johnny Hersvik said on Friday: :COMPANY STICKS TO ITS BREAK-EVEN TARGET PRICE OF $35/BARREL FOR NEW DEVELOPMENTS EVEN AS OIL PRICES RISE.COMPANY HAS NO IMMEDIATE PLANS TO DIVEST MORE STAKES IN VALHALL AND HOD FIELDS AFTER CUTTING ITS OWNERSHIP TO 90 PERCENT.EXPECTS SVERDRUP FIELD DEVELOPMENT COSTS TO FALL FURTHER DUE TO REDUCTION IN CONTINGENCY AS PROJECT PROGRESSES ACCORDING TO PLAN.  Full Article

Aker BP Q4 core profit below expectations
Friday, 2 Feb 2018 01:00am EST 

Feb 2 (Reuters) - Aker Bp Asa ::AKER BP Q4 REVENUES $‍726​ MILLION (REUTERS POLL $713 MILLION).AKER BP Q4 EBITDA $‍509​ MILLION (REUTERS POLL $528 MILLION).AKER BP QUARTERLY DIVIDEND $‍0.3124​ PER SHARE VERSUS PREVIOUS DIVIDEND $0.185/SHARE.AKER BP Q4 NET RESULT $‍34​ MILLION (REUTERS POLL $107 MILLION).AKER BP ASA: ‍JOHAN SVERDRUP PROJECT PROGRESSED ACCORDING TO PLAN, AND PHASE 1 FACILITIES CONSTRUCTION WAS APPROXIMATELY 80 PERCENT COMPLETE BY END OF Q4​.  Full Article

Aker BP sees 2019 Capital spending similar to 2018
Monday, 15 Jan 2018 10:23am EST 

Jan 15 (Reuters) - Aker Bp Asa ::AKER BP CFO ALEXANDER KRANE SEES 2019 CAPITAL SPENDING "PERHAPS NOT TOO FAR AWAY FROM WHERE WE ARE TODAY".AKER BP CFO SAYS DECOMMISSIONING COSTS ARE EXPECTED TO GO DOWN, WHILE EXPLORATION SPENDING DEPENDED ON DRILLING RESULTS THIS YEAR.  Full Article

Aker BP CEO says more M&A could further boost dividend
Monday, 15 Jan 2018 07:15am EST 

Jan 15 (Reuters) - Aker BP ASA's : CEO Karl Johnny Hersvik said on Monday::COMPANY IS TARGETING FURTHER SELECTIVE M&A GROWTH TO INCREASE SHAREHOLDER VALUE "AND, IF POSSIBLE, TO INCREASE THE DIVIDENDS".  Full Article

Oil firm Aker BP completes takeover of Hess' Norway unit
Friday, 22 Dec 2017 09:15am EST 

Dec 22 (Reuters) - Aker Bp Asa ::ACQUISITION OF HESS NORGE COMPLETED.‍ALL CLOSING CONDITIONS HAVE BEEN FULFILLED, AND CLOSING OF TRANSACTION TOOK PLACE ON 22 DECEMBER 2017​.  Full Article

Odfjell Drilling wins $105 mln Aker BP rig contract
Thursday, 21 Dec 2017 12:23pm EST 

Dec 21 (Reuters) - Odfjell Drilling Ltd ::‍FIRST CALL-OFF UNDER AKER BP ALLIANCE HAS BEEN RECEIVED TODAY​.COVERS A 12 MONTHS CONTRACT FOR DEEPSEA STAVANGER AND WILL START AS SOON AS UNIT RETURNS TO NORWAY AFTER ITS CONTRACT WITH TOTAL IN SOUTH AFRICA, EXPECTED TO BE IN Q2 2019​.‍FIRM CONTRACT VALUE IS APPROXIMATELY USD 105 MILLION EXCLUDING POTENTIAL PERFORMANCE BONUSES​.  Full Article

Aker BP buys 17 pct in Fishbones AS, to increase oil recovery
Monday, 18 Dec 2017 08:12am EST 

Dec 18 (Reuters) - Aker Bp Asa ::AKER BP BUYS 17 PERCENT STAKE IN FISHBONES AS, AN UNCONVENTIONAL STIMULATION TECHNOLOGY APPLIED TO INCREASE THE PRODUCTION RATES IN TIGHT RESERVOIRS.AKER BP SEES A POTENTIAL FOR SUBSTANTIAL COST SAVINGS AND POTENTIAL FOR INCREASED RECOVERY BY USING THIS METHOD. THE TECHNOLOGY WILL INITIALLY BE APPLIED AT THE VALHALL FIELD.SUBSEQUENT TO AKER BP INVESTING IN FISHBONES, STATOIL TECHNOLOGY INVEST AS HOLDS A 25 PERCENT STAKE IN THE COMPANY AND FREYER HOLDING AS HOLDS 51 PERCENT. AKER BP WILL HAVE ONE SEAT IN THE BOARD OF DIRECTORS OF THE COMPANY.  Full Article

UPDATE 2-Aker Energy buys Hess Ghana business, expects first oil in 2021

* Likely to seek financial or industrial partners (Adds interview with Aker CEO, share, details)