Search results for: Faroe Petroleum

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  • 25 October 2017
    Business & Finance

    Faroe Petroleum, an oil and gas company focusing principally on Norway and the UK, has appointed a new independent non-executive director. Faroe said on Wednesday that Brent Cheshire would be the company’s new director. His appointment to the company’s board takes effect immediately. Cheshire began his career with Shell as a geologist in its exploration and […]

  • 5 June 2018
    Business & Finance

    Oil and gas company Faroe Petroleum has appointed a new independent non-executive director to its board of directors.

  • 6 January 2016

    Faroe Petroleum, the independent oil and gas company with assets in Norway and the UK, has announced its reserves grew almost a hundred percent in 2015, when compared to those reported in 2014. According to the company, LR Senergy has completed its independent technical report on Faroe’s reserves for 2015, and the 2015 year-end numbers are “materially […]

  • 16 April 2018
    Business & Finance

    Norwegian oil and gas operator DNO ASA has further increased its stake in UK-based Faroe Petroleum.

  • 29 October 2018
    Business & Finance

    Faroe Petroleum has increased and extended the duration of its Reserve Based Lending bank credit facility to underpin its growth plans.

  • 20 December 2016

    Faroe Petroleum, an oil and gas company focusing principally on Norway and the UK, has signed two banking facilities, which will provide finance for the company’s growth plans and costs for the Norwegian activities.  According to Faroe’s statement on Tuesday, the two facilities are $250 million Reserve Base Lending Facility (RBL) and NOK 1 billion ($114.9M) […]

  • 2 November 2012

    Faroe Petroleum, an independent oil and gas exploration firm, has announced today, November 2, it will relinquish the licence P161, located west of Shetland Islands. The licence, operated by Faroe Petroleum with 50 per cent interest, contains Freya and Fulla discoveries, however, the company has been unable to find a economically viable solution for development […]

  • 5 April 2018
    Business & Finance

    Norwegian oil and gas operator DNO ASA has increased its stake in UK-based Faroe Petroleum to 27.68 percent. 

  • 28 September 2012
    Business & Finance, Project & Tenders

    Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in the Atlantic margin, the North Sea and Norway, announces that it has contracted the West Navigator drillship to drill the Faroe operated Novus prospect in Norway in the second half of 2013. This licence is located to the […]

  • 28 September 2012
    Business & Finance, Project & Tenders

    Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in the Atlantic margin, the North Sea and Norway, announces that it has contracted the West Navigator drillship to drill the Faroe operated Novus prospect in Norway in the second half of 2013. This licence is located to the […]

  • 19 January 2011
    Business & Finance

    Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in the Atlantic margin, the North Sea and Norway, is  announces that it has been offered three new prospective licences in the Norwegian Sea under the 2010 Norwegian APA Licence Round. Licence PL475CS, Blocks 6406/3 (part) and 6507/10 (part) […]

  • 24 May 2012
    Business & Finance

    Faroe Petroleum has announced that drilling has started on the Clapton prospect in the Norwegian North Sea (Faroe 40% and operator). Well 2/8-18 S is Faroe Petroleum’s first operated well in Norway and will target the Clapton Prospect located in PL440 S in block 2/8, approximately 5 km east of the Eldfisk East Field and […]

  • 27 August 2018
    Business & Finance

    DNO ASA has withdrawn its request for a shareholders meeting of Faroe in which it holds a 28.23 percent stake.

  • 10 October 2014
    Business & Finance, Project & Tenders

    Faroe Petroleum has completed the acquisition of a 53.1% operated interest in the Schooner Field and a 60% operated interest in the Ketch Field in the UK Southern North Sea gas basin  from Tullow Oil. Remaining Proved and Probable Reserves, as evaluated by the Faroe Petroleum, as at 1 January 2014 were 5.9 million barrels […]

  • 10 January 2019
    Business & Finance

    Norwegian oil company DNO is taking over Faroe Petroleum.

  • 26 July 2010

    Faroe Petroleum plc, the independent oil and gas company focusing principally on exploration, appraisal and undeveloped field opportunities in the Atlantic margin, the North Sea and Norway, announces that drilling operations have commenced on the Anne Marie prospect (Faroe Petroleum 12.5%), located offshore, the Faroe Islands. The commitment well (6004/8a‐1) is located in 1,106m of […]

  • 9 January 2019
    Business & Finance

    After weeks of resisting the hostile takeover push by the Norwegian oil company DNO, Faroe Petroleum’s board has finally bowed down and told shareholders to accept DNO’s increased offer of 160 pence a share.

  • 8 January 2019
    Business & Finance

    Norway’s DNO is not letting off Faroe Petroleum’s management, this time criticizing its target company’s recent ‘glossy’ resource report following Norwegian authorities downgrade of the estimated reserves of the Oda offshore field in which Faroe owns a share.

  • 16 August 2018
    Business & Finance

    Faroe Petroleum has recommended that shareholders vote against the appointment of two directors suggested by shareholder DNO ASA.

  • 15 October 2012

    Premier Oil has spudded the Spaniards East exploration well, located in the UK sector of the North Sea, Faroe Petroleum has informed. The Spaniards East prospect is situated on Block 15/21a, south of the Perth field (Faroe 34.62%) and close to the producing Scott field in the Central North Sea. The well, which is targeting […]

  • 12 December 2018

    Oslo-listed DNO ASA is adamant in its intention to fully take over Faroe Petroleum, despite the Faroe board being against it.

  • 4 January 2019
    Business & Finance

    Faroe Petroleum, a target of DNO’s hostile takeover bid of 152p a share, has once again urged shareholders not to consider DNO’s ‘opportunistic’ offer, as they’d lose an opportunity to benefit from any potential increase in the offer.