Search results for: North Energy

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  • 16 September 2015
    Business & Finance

    North Energy ASA, a Norwegian oil company, has adopted additional extensive cost cuts that include shutting down two offices and workforce reduction.  Persistent difficult market conditions underlie the decision to make further savings, the company said in a press release issued Wednesday. Annual operating costs for the company will thereby be reduced to about NOK […]

  • 1 May 2015
    Business & Finance

    North Energy ASA, a Norwegian oil & gas exploration company,  has fired its CEO Erik Karlstrøm. The company has said that Karlstrøm has been relieved of his duties with immediate effect. Providing rationale for the move, the company said that “Karlstrøm no longer has the trust of the Board.” Erik Karlstrøm has been the CEO of North Energy […]

  • 21 December 2015
    Business & Finance

    North Energy, a Norwegian oil company, has acquired Explora Petroleum, an exploration and production company also from Norway, for a cash payment of $2.5 million. According to North Energy, the transaction is being implemented through the purchase of all the shares in Explora from the company’s shareholders, who comprise certain employees and individual shareholders, and […]

  • 5 June 2014
    Business & Finance

    North Energy has signed a purchase and sale agreement with Lime Petroleum Norway AS for a share in its Norwegian Sea blocks.

  • 9 March 2016

    Norwegian oil company North Energy and the fully owned subsidiary North E&P signed on Tuesday an agreement to renew their exploration financing facility for the period 2016-17. The group of banks providing the facility comprises of DNB and SEB, with the first of these banks acting as coordinator and agent. The facility is limited up […]

  • 12 October 2015

    North Energy ASA has signed a sale and purchase agreement with Pure E&P Norway AS, whereby North Energy sells its 10 per cent interest in production licence (PL) 708 to Pure. According to North Energy, this transaction forms part of its current strategic process, where attention is concentrated on enhancing cost efficiency and optimising the […]

  • 2 December 2015

    North Energy ASA, a Norway-based exploration and production company, will sell 10 percent interest in production licence PL 707 in the Barents Sea to Lime Petroleum. “This transaction forms part of North Energy’s current strategic process, where attention is concentrated on enhancing cost efficiency and optimising the licence portfolio,” the Norwegian firm explained in a statement on Wednesday. […]

  • 14 August 2014
    Business & Finance, Project & Tenders

    North Energy ASA and Noreco Norway AS have entered into an agreement on swapping interests in production licences. These transactions mean that North Energy acquires 15 per cent of PL 484 in the Norwegian Sea and transfers a 10 per cent holding in PL 616 in the North Sea to Noreco. PL 484 contains several prospects, with one […]

  • 29 January 2020

    Canadian GasNorth Energy has been granted permission from the BC Oil and Gas Commission to proceed with the installation of a natural gas liquefaction facility near Fort Nelson, British Columbia.

  • 7 April 2014

    Electromagnetic Geoservices ASA (EMGS) has received a Letter of Award (LOA) from North Energy ASA for a contract of NOK 20 million (USD 3.3 million) for 3D EM data acquisition over and in the vicinity of license PL509S in the North Sea, offshore Norway.   “This contract means that EM is becoming accepted as an exploration tool […]

  • 26 June 2014
    Business & Finance, Operations & Maintenance

    North Energy has entered into an agreement with Tullow Oil Norge AS which gives it a 10 percent holding in production licence 507. The operator is planning an exploration well on the “Lupus” oil prospect, with spudding scheduled for late June. This well will be drilled by Borgland Dolphin in about 120 metres of water […]

  • 26 June 2014
    Business & Finance, Project & Tenders

    North Energy has entered into an agreement with Tullow Oil Norge AS which gives it a 10 per cent holding in production licence 507. The operator is planning an exploration well on the “Lupus” oil prospect, with spudding scheduled for late June. This well will be drilled by Borgland Dolphin in about 120 metres of water […]

  • 26 March 2014
    Business & Finance

    North Energy has entered into a sale and purchase contract with Tullow Oil Norge AS, under which North Energy acquires a 10 per cent interest in production licences 591 and 591 B on the Norwegian continental shelf. These holdings are located on the Halten Terrace in the Norwegian Sea, in the immediate vicinity of several producing fields. An […]

  • 7 July 2017
    Business & Finance

    Norwegian oil company North Energy is putting a stop to petroleum activities on the Norwegian Continental Shelf (NCS) with the sale of its last license, located in the Barents Sea, to the Swedish oil company, Lundin.  North Energy said on Friday that its subsidiary North E&P has signed an agreement with Lundin Norway to sell […]

  • 20 August 2014
    Business & Finance, Equipment

    Norwegian geophysical services company EMGS is looking to increase its shareholding in North Energy ASA.

  • 20 August 2014
    Business & Finance

    North Energy ASA is increasing its equity holding in PL 484, offshore Norway, through an agreement on swapping licence interests with Explora Petroleum AS. Under the agreement on swapping licence interests, North Energy will acquire 20 per cent of PL 484 in the Norwegian Sea and transfer 10 per cent of PL 722 in the Barents Sea to […]

  • 19 January 2011
    Business & Finance, Project & Tenders

    The prospectively evaluation of license Skagen (PL 498), which is a license from the 4 sea acquisition early 2010, has proven positive, and the license partnership has made a drill decision scheduled for 2012. Drilling of Jette (PL 385), which was scheduled Q1 2011, has been rescheduled to Q4 2011/Q1 2012. This is due to […]

  • 5 October 2011
    Business & Finance, Project & Tenders

    North Energy has completed drilling of the two main reservoirs and one of the secondary targets in the Heilo well in PL 530 in the Barents Sea. The well has not encountered hydrocarbons. The well will now continue drilling to planned total depth in the Havert Formation, testing possible deeper targets. A final press release […]

  • 20 August 2014

    With reference to the announcement of the strategic agreement between North Energy ASA and Electromagnetic Geoservices ASA (EMGS) on 21 January 2014, EMGS has now settled the NOK 75 million convertible bond loan to North Energy. EMGS has converted NOK 28.4 million of the loan into 6,851,463 shares in North Energy, at a strike price […]

  • 13 January 2017
    Business & Finance

    North Energy will through a series of transactions become the new major shareholder of the Norwegian subsea service provider, Reach Subsea, controlling a stake of 30%. North Energy informed on Thursday that its subsidiary, North Energy Capital, has reached an agreement with certain shareholders of Accello Partners I, the current 30% shareholder of Reach, to acquire […]

  • 26 November 2013
    Business & Finance

    Norwegian authorities have approved the transfer of 40 percent interests and operatorship in production licences 509S and 509BS from Wintershall Norge AS to North Energy. The licences contain oil prospects and are located in the North Sea, south of the Gullfaks area. A potential discovery could be tied back to existing nearby  infrastructure. Drill or drop decision is […]

  • 12 February 2016
    Business & Finance

    North Energy, a Norwegian oil company, has announced a completion of its transaction for an exploration and production company, also from Norway, Explora Petroleum.  North Energy acquired Explora Petroleum for a cash payment of $2.5 million in December 2015. The transaction was conditional on the approval of the Norwegian government. Explora had 18 employees and 16 licences […]