TGS Boosted by Seismic Market Recovery
Q1 revenues rose by 56 pct; shares jump 13 pct. Oslo-listed seismic data provider TGS, a key supplier to the oil industry, reported first-quarter revenues far above forecasts as markets continue to improve, it said on Tuesday, sending its share price surging.
Seadrill Names Dibowitz CEO
Oslo-listed rig firm Seadrill named a new chief executive from within its own ranks on Wednesday and said its talks to restructure $14 billion of debt and liabilities had reached an advanced stage. Once the world's most valuable rig firm…
DONG Energy Shares Jump after European IPO
Shares in DONG Energy jumped more than 10 percent on Thursday after the Danish utility and wind farm developer pulled off Europe's biggest stock market flotation this year. Analysts said the strong debut, coupled with a move…
DONG Energy Listing to Value Group at up to $16 Bln
DONG Energy's has set a potential $16 billion price tag on its stock market debut, giving investors a chance to buy into the growth in offshore wind power, but also into a business heavily reliant on government subsidies.
DONG Energy Set for Europe's Biggest Share Float This Year
Danish wind farm developer DONG Energy, which analysts value as high as $13 billion, said on Thursday it plans to list its shares on the Copenhagen stock exchange this summer. Having built more than a quarter of the world's offshore wind farms…
Songa Restructures as Statoil Shortens Contracts
Norwegian rig firm Songa Offshore will issue new debt and shares worth up to $150 million and convert existing bonds of the same amount to equity as part of a plan to fix a liquidity shortfall, the company said in a statement on Tuesday.
Aker Solutions Sees Less in Revenues Next Year
Oil services firm Aker Solutions expects up to 600 million crowns ($69.36 million) less in revenues next year as it failed to win a renewed key contract with Statoil, the firm said on Tuesday, sending its shares sharply lower.
Polarcus Halts Repayments as it Seeks Restructuring
Polarcus Limited decided to formally address its long term financing structure with the aim of restructuring the Company's balance sheet and halt all payments of interest and amortization to all of its finance providers.
Norway's PGS Plans Share Issue to Boost Equity
Norwegian oil services company PGS said on Wednesday it plans a share issue to boost its equity following a sharp drop in demand. The offshore seismic data collector hopes to sell 21.78 million new shares, equivalent to 9.99 of its current capital…
Statoil Bets on Oil Price Recovery, Investments Continue
Statoil cutting less in capex than any other major; continues to invest in long term projects. Norway's Statoil is cutting investments less than any other oil major this year, positioning for a crude price recovery but taking a risk should the slump be protracted.
Aker Solutions Shares Jump, Beat Forecasts
Norwegian oil services company Aker Solution posted forecast-beating results in all key divisions on Friday, defying tightened spending in the sector and boosting its share price by more than 13 percent on Friday. The Oslo-listed firm…
Statoil Reducing Stake in U.S. Shale Formation
Statoil reduces stake in U.S. shale formation; deal could help Statoil maintain dividend. Statoil has sold part of its stake in a shale field in the northeast of the United States to Southwestern Energy for $394 million, the Norwegian energy firm said on Tuesday.
Dearth of Oil Finds Threaten Supplies, Price
Oil discoveries hit new lows in 2013, 2014; oil firms cutting spending, including exploration. Spending cut could hit oil price with a lag. Costs soar, making many project unviable. The rate of oil discoveries continues to…
Shell drops Norwegian subsea gas project
Royal Dutch Shell has dropped one of Norway's biggest and most innovative industrial projects due to rising costs and complexity, dealing a blow to a technology that some hope could revolutionise offshore production. Shell…
Danish shipping fuel supplier OW Bunker confirms IPO plan
Private equity co Altor plans to partly sell holding; OW Bunker FY net up almost 50 pct at $63.4 mln. Revenue up more than 20 pct at $16.99 billion. Danish ship fuel supplier OW Bunker plans an initial public offering (IPO) of shares in Copenhagen…
