Search results for: Atlantic Petroleum

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  • 25 March 2016

    Atlantic Petroleum, a Faroese oil and gas company with assets in the North Sea, might have secured a lifeline after entering into Heads of Terms with a UK-based investment company. Namely, the company which has been working for months to avoid going into administration, has entered into Heads of Terms with London Oil and Gas […]

  • 24 December 2015
    Business & Finance

    Future seems uncertain for Atlantic Petroleum, a Faroese oil and gas company with assets in UK and Norway, as the talks for the sale of its stake in a UK North Sea field have dragged on for weeks. Namely, the company said on Thursday it was still in discussions with a “London-based party” to sell its […]

  • 23 November 2017
    Business & Finance

    Atlantic Petroleum has found an interim replacement for its departing CEO Ben Arabo.

  • 3 August 2015
    Business & Finance

    Atlantic Petroleum, an independent oil and gas company based in the Faroe Islands, is looking at its options after the company’s Board of Directors authorized the management team to explore a broad range of strategic alternatives, possibly even a sale of the company. As part of the strategic review, Atlantic Petroleum said it would consider a full […]

  • 26 May 2017
    Business & Finance

    Faroese oil company Atlantic Petroleum has posted a profit for the first quarter of 2017, following a loss in 1Q 2016. The company that recently sold its stake in the yet to be developed Orlando field in the UK North Sea, reported a net profit of 5.4 million Danish crowns, up from a loss of […]

  • 1 May 2017
    Business & Finance

    Atlantic Petroleum, a Faroese oil and gas company with assets in the North Sea, has elected a three-person board of directors during its Annual General Meeting (AGM) held on April 28 in Torshavn, Faroe Islands. Atlantic Petroleum’s current board proposed that Charles Hendry, Birgir Durhuus, and Ben Arabo, the CEO of Atlantic Petroleum, be elected […]

  • 14 March 2017

    Atlantic Petroleum, a Faroese oil and gas company with assets in the North Sea, has refinanced its debt with its main creditor Eik Bank. Atlantic said on Monday that it had revised terms for the DKK 66 million ($9.5 million) debt to Eik Bank and that the new terms would see the debt paid back […]

  • 17 November 2016

    Atlantic Petroleum’s previously announced deal to sell its stake in the Orlando oil field in the North Sea to Bridge Petroleum, has fallen through. Bridge Petroleum has now told Atlantic Petroleum that it is “unable to complete the transaction under the SPA for 25% of the Orlando asset. “ The initial sales and purchase agreement was […]

  • 9 March 2016
    Business & Finance

    Atlantic Petroleum’s fully owned subsidiary Atlantic Petroleum Norge (APN) has entered into a sale and purchase agreement with M Vest Energy for the sale of its Norwegian activities for the consideration of NOK 1. The Norwegian activities include all of Atlantic Petroleum Norge’s assets and licenses, the liabilities of the licences, the employees and a […]

  • 29 September 2017
    Business & Finance

    Chief executive officer at Atlantic Petroleum, an oil and gas company based in Tórshavn, Faroe Islands, has tendered his resignation to the role.  The oil company informed on Friday that Ben Arabo would leave the company to take up a Faroe Islands-based post. He will remain in place as CEO until December 1. The board will […]

  • 24 November 2016

    Faroese oil company Atlantic Petroleum is looking at options for the Orlando field in the UK sector of the North Sea after a deal to sell its stake to Bridge Petroleum fell through last Thursday.  Earlier this year, Atlantic Petroleum entered into a sale and purchase agreement with Bridge Petroleum for its 25% interest in the […]

  • 14 March 2017
    Business & Finance

    Faroese oil and gas company Atlantic Petroleum has entered into a sale and purchase agreement with Decipher Energy for its 25 percent interest in the Orlando field in the UK North Sea.  Atlantic said on Tuesday that the consideration is a 2 percent revenue share of the total Orlando production revenue until the field has produced […]

  • 31 July 2015
    Business & Finance

    Atlantic Petroleum’s subsidiary, Atlantic Petroleum UK Limited, has completed the sale and purchase agreement with Third Energy Offshore Limited for the sale of its interests in three licences located in the UK North Sea.  In May 2015, the two companies signed a sale and purchase agreement for the sale of Atlantic Petroleum’s interest in P1724 (UK Block […]

  • 4 November 2014
    Project & Tenders

    P/F Atlantic Petroleum, an oil company based in Tórshavn, Faroe Islands, is reducing its oil production forecast for the year. The company today announced that during the month of October, Atlantic Petroleum produced a net total of 51,000 barrels of oil equivalents (boe) from the Chestnut, Ettrick and Blackbird fields in the UK North Sea. The average […]

  • 13 November 2013
    Business & Finance

    Atlantic Petroleum  today announces that the Company contemplates an initial public offering (IPO) on the Oslo Stock Exchange within the end of the year. The Company’s existing shares are listed on NASDAQ OMX Iceland and NASDAQ OMX Copenhagen, respectively.   The contemplated IPO is expected to provide funding to realize the Company’s growth plans, particularly on the Norwegian Continental Shelf. The Company intends […]

  • 28 November 2016

    Faroese oil company Atlantic Petroleum has asked to be named the operator of two UK North Sea licenses, Orlando and Kells, as the current operator Iona Energy is under administration.  Atlantic Petroleum informed on Friday, November 25 it has issued notices to Iona Energy Company (UK) Limited that it requests that special meetings of the Joint […]

  • 16 May 2011
    Business & Finance, Operations & Maintenance

    P/F Atlantic Petroleum announces that its wholly owned subsidiary, Atlantic Petroleum UK Limited, has signed a share purchase agreement to acquire the entire issued share capital of the UK-based private exploration company, Volantis Exploration Limited. Volantis Exploration holds equity in a total of 15 licences in the Southern North Sea on the UK continental shelf […]

  • 16 May 2011
    Business & Finance

      P/F Atlantic Petroleum announces that its wholly owned subsidiary, Atlantic Petroleum UK Limited, has today signed a share purchase agreement to acquire the entire issued share capital of the UK-based private exploration company, Volantis Exploration Limited. Volantis Exploration holds equity in a total of 15 licences in the Southern North Sea on the UK […]

  • 21 February 2013

    Atlantic Petroleum  today announces the completion of the acquisition of 25% working interest in the Orlando and Kells discoveries (P.1606 and P.1607) entered into and announced 13th December 2012. Atlantic Petroleum has through its fully owned subsidiary Volantis Exploration Limited committed to pro-rata funding of the Orlando & Kells developments commensurate with its 25% working […]

  • 14 November 2012
    Business & Finance

    Atlantic Petroleum announces  has issued a voluntary offer for 100% of the shares in Emergy Exploration AS based in Bergen, Norway. Emergy Exploration is an independent, upstream oil and gas company focused on the Norwegian Continental Shelf (the “NCS”). The Offer for 100% of the shares in Emergy is USD 12.7 million to be paid […]

  • 2 January 2014
    Business & Finance, Project & Tenders

    P/F Atlantic Petroleum announces that the Group has entered into a farm-in option agreement with Rocksource ASA regarding the PL528 licence in the Norwegian Sea. Through the farm-in option agreement, Atlantic Petroleum shall purchase five percent (5%) and has an option to purchase up to fifteen percent of the participating interest in PL528. Atlantic Petroleum […]

  • 22 January 2014
    Business & Finance

    P/F Atlantic Petroleum announced that Atlantic Petroleum Norge AS (a wholly owned subsidiary of P/F Atlantic Petroleum) has been awarded new licences in the APA 2013 Licensing Round on the Norwegian Continental Shelf (NCS) announced by the Ministry of Oil and Energy on the 21st of January, 2014. The licences PL 763 and PL 270 […]