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Aker ASA (AKER.OL)

AKER.OL on Oslo Stock Exchange

440.80NOK
25 Feb 2020
Change (% chg)

kr-5.00 (-1.12%)
Prev Close
kr445.80
Open
kr452.80
Day's High
kr452.80
Day's Low
kr437.00
Volume
134,311
Avg. Vol
89,421
52-wk High
kr684.50
52-wk Low
kr390.00

Latest Key Developments (Source: Significant Developments)

Aker ASA Q4 Pre-Tax Result Swings To Profit Of NOK 711 Million
Friday, 14 Feb 2020 

Feb 14 (Reuters) - Aker ASA ::AKER ASA: FOURTH-QUARTER AND PRELIMINARY ANNUAL RESULTS 2019 - NET ASSET VALUE OF NOK 50 BILLION - CASH DIVIDEND OF NOK 23.5 PER SHARE PROPOSED.Q4 NET ASSET VALUE NOK 50.0 BILLION VERSUS NOK 41.7 BILLION YEAR AGO.BOARD OF DIRECTORS PROPOSES A PAYMENT OF NOK 23.50 PER SHARE CASH DIVIDEND FOR 2019 (4.3 PER CENT YIELD TO THE SHARE PRICE AND 3.5 PER CENT OF NAV AT THE CLOSE OF 2019).REMAINS POSITIVE ABOUT THE MEDIUM TO LONGER TERM ATTRACTIVENESS OF OIL AND GAS INVESTMENTS AND WILL THEREFORE CONTINUE TO EVALUATE STRATEGIC ALTERNATIVES AND OPPORTUNITIES IN THE SECTOR.FUTURE OIL DEMAND GROWTH IS EXPECTED TO BE SUPPORTED BY THE STILL ONGOING MEGA TRENDS OF POPULATION GROWTH, A GROWING MIDDLE CLASS AND URBANISATION, PARTICULARLY IN ASIA..OIL SUPPLY GROWTH IS LIKELY TO BE KEPT IN CHECK BY OPEC POLICY, MODERATE E&P SPENDING AND TIGHTENED FINANCIAL CONDITIONS IN THE US SHALE INDUSTRY.Q4 PROFIT BEFORE TAX NOK 711 MILLION VERSUS LOSS NOK 281 MILLION YEAR AGO.  Full Article

Aker Energy Appoints Svein Jakob Liknes Acting CEO
Tuesday, 10 Dec 2019 

Dec 10 (Reuters) - Aker ASA ::AKER ENERGY ANNOUNCES TRANSITION OF LEADERSHIP AND ADJUSTED COMPOSITION OF THE BOARD OF DIRECTORS.AKER ENERGY HAS NAMED SVEIN JAKOB LIKNES, MOST RECENTLY AKER ENERGY'S HEAD OF OPERATIONS, TO ACTING CHIEF EXECUTIVE OFFICER.AKER ASA - JAN ARVE HAUGAN TO RESIGN AS AKER ENERGY CEO.  Full Article

Aker: Placement Of New Senior Unsecured Bond Issue Of NOK 1.50 Bln
Thursday, 14 Nov 2019 

Nov 14 (Reuters) - Aker ASA ::REG-AKER ASA: SUCCESSFUL PLACEMENT OF NEW UNSECURED BOND ISSUE.REG-AKER ASA: SUCCESSFUL PLACEMENT OF NEW UNSECURED BOND ISSUE.HAS SUCCESSFULLY PLACED A NEW SENIOR UNSECURED BOND ISSUE OF NOK 1,500 MILLION WITH MATURITY IN NOVEMBER 2024, CARRYING A COUPON OF 3 MONTHS NIBOR + 1.90% P.A. WITH QUARTERLY INTEREST PAYMENTS.  Full Article

Aker eyes smaller investment in Ghana's Pecan oilfield
Friday, 1 Nov 2019 

Nov 1 (Reuters) - Aker ASA ::AKER CEO SAYS GHANA'S PECAN OILFIELD DEVELOPMENT COUD BE SIMPLIFIED AND AMOUNT OF INVESTMENT COULD BE REDUCED.AKER CEO SAYS FOCUS OF M&A EFFORTS WILL BE TO GROW COMPANY'S BUSINESS AND DIVERSIFY ASSET PORTFOLIO IN GHANA, DOESN'T RULE OUT M&A IN OTHER COUNTRIES.  Full Article

Aker Energy To Issue Convertible Bonds Worth USD 100 Mln
Monday, 8 Jul 2019 

July 8 (Reuters) - Aker ASA ::AKER ENERGY ISSUES CONVERTIBLE BONDS TO AFRICA FINANCE CORPORATION.HAS ENTERED INTO AN AGREEMENT TO ISSUE USD 100 MILLION OF CONVERTIBLE SUBORDINATED BONDS TO AFRICA FINANCE CORPORATION.AFC ALSO INTENDS TO TAKE PART IN FUTURE CAPITAL MARKET ACTIVITIES.BONDS HAVE A MATURITY OF FIVE YEARS, WITH AN OPTION TO EXTEND WITH ANOTHER THREE YEARS.BONDS HAVE A COUPON OF 5.5 PER CENT PER YEAR AND WILL BE CONVERTED TO EQUITY IN EVENT OF AN INITIAL PUBLIC OFFERING AKER ENERGY, AT AN AGREED DISCOUNT TO AN IPO OFFERING PRICE OF 1.85 PER CENT PER YEAR.PROCEEDS FROM BONDS WILL BE PART OF FINANCING FOR DEVELOPMENT OF DEEPWATER TANO CAPE THREE POINTS ("DWT/CTP") BLOCK OFFSHORE GHANA.AS PART OF AGREEMENT, AFC HAS RECEIVED EQUITY WARRANTS WITH RIGHT TO SUBSCRIBE SHARES IN AKER ENERGY IN FUTURE EQUITY OFFERINGS BY COMPANY OF UP TO USD 50-100 MILLION.  Full Article

Aker BP signs $4 bln credit facilities
Friday, 24 May 2019 

May 24 (Reuters) - Aker BP ASA ::AKER BP SUCCESSFULLY CLOSES USD 4.0 BILLION SENIOR UNSECURED REVOLVING CREDIT FACILITIES.FOLLOWING STRONG DEMAND FROM BANKS, FACILITIES WERE OVERSUBSCRIBED BY MORE THAN 47%, RESULTING IN AKER BP CHOOSING TO SCALE BACK LARGEST COMMITMENTS AND CLOSING TRANSACTION AS A 17 BANK CLUB DEAL WITH EQUAL TICKETS.FACILITIES COMPRISE A 3-YEAR USD 2.0 BILLION WORKING CAPITAL FACILITY AND A USD 2.0 BILLION 5-YEAR LIQUIDITY FACILITY.LIQUIDITY FACILITY INCLUDES TWO 12-MONTH EXTENSION OPTIONS.FACILITIES WILL BE USED FOR GENERAL CORPORATE PURPOSES AND WORKING CAPITAL AS WELL AS PROVIDING A LIQUIDITY RESERVE.  Full Article

Aker NAV Increased By 34.7 Pct In Q1 To NOK 56.2 Billion
Friday, 10 May 2019 

May 10 (Reuters) - Aker ASA ::REG-AKER ASA: FIRST-QUARTER RESULTS 2019 - NET ASSET VALUE OF NOK 56.2 BILLION.AKER Q1 NET ASSET VALUE NOK 56.2 BILLION VERSUS NOK 41.7 BILLION IN Q4 2018.Q1 PRE-TAX NOK 777 MILLION VERSUS NOK 266 MILLION YEAR AGO.AKER’S OIL SERVICE COMPANIES ARE SHOWING GOOD PROGRESS WITH SOLID OPERATIONAL PERFORMANCE.AKER EXPECTS THE OVERALL ACTIVITY LEVEL TO REMAIN SUBDUED AS E&P COMPANIES CONTINUE TO TAKE A CAUTIOUS APPROACH TO NEW INVESTMENT.IN Q1, ALL OF FIVE LISTED INDUSTRIAL PORTFOLIO COMPANIES DELIVERED POSITIVE VALUE GAINS.CONTRIBUTION THIS QUARTER WAS LARGELY EXPLAINED BY AKER BP HELPED BY AN IMPROVED SENTIMENT IN OIL AND GAS SECTOR, RESULTING IN A CONTRIBUTION TO NAV OF NOK 13.5 BILLION.NAV INCREASED BY 34.7 PER CENT IN Q1 TO NOK 56.2 BILLION.  Full Article

Aker ASA submits $4.4 bln Ghana oilfield development plan
Thursday, 28 Mar 2019 

March 28 (Reuters) - Aker ASA ::AKER ASA: AKER ENERGY SUBMITS AN INTEGRATED PLAN OF DEVELOPMENT AND OPERATION FOR THE DWT/CTP BLOCK OFFSHORE GHANA.TOTAL INVESTMENTS (CAPEX) TO DEVELOP THESE RESERVES ARE ESTIMATED TO USD 4.4 BILLION, EXCLUDING CHARTER RATE FOR A LEASED FPSO.TOTAL RESERVES FROM PECAN FIELD DEVELOPMENT ARE ESTIMATED TO 334 MILLION BARRELS OF OIL, AND PLATEAU PRODUCTION IS ESTIMATED TO 110,000 BARRELS OF OIL PER DAY.PRODUCTION FROM FIELD IS EXPECTED TO LAST FOR MORE THAN 25 YEARS..TOTAL RESOURCES IN AREA HAVE POTENTIAL TO INCREASE TO BETWEEN 600-1000 MMBOE, PROVIDED SUCCESSFUL APPRAISAL DRILLING ACTIVITY.AKER ENERGY GHANA LIMITED IS OPERATOR UNDER DWT/CTP PETROLEUM AGREEMENT WITH A 50% PARTICIPATING INTEREST.PARTNERS ARE LUKOIL OVERSEAS GHANA TANO LIMITED (38%), GHANA NATIONAL PETROLEUM CORPORATION (GNPC) (10%) AND FUELTRADE LIMITED (2%).  Full Article

Union plans strikes at UK Shetland gas plant
Tuesday, 12 Mar 2019 

March 12 (Reuters) - Aker ASA ::BRITAIN'S UNITE UNION SAYS 24 HOUR STRIKES AT SHETLAND GAS PLANT PLANNED FOR MARCH 13, 27, APRIL 19, 24 AND MAY 8.  Full Article

Aker remains open to dialogue about oil services M&A -CEO
Thursday, 8 Nov 2018 

Nov 8 (Reuters) - Aker ASA ::NORWEGIAN INVESTMENT FIRM AKER SAYS EXPECTS OVERALL OIL COMPANY SPENDING TO INCREASE IN SHORT- TO MEDIUM TERM, BUT OVERALL ACTIVITY LEVELS TO REMAIN SUBDUED.NORWEGIAN INVESTMENT FIRM AKER SAYS REMAINS POSITIVE ABOUT OIL AND GAS, WILL CONTINUE TO EVALUATE STRATEGIC ALTERNATIVES AND OPPORTUNITIES IN THE SECTOR.AKER CEO SAYS AKER ENERGY INTENDS TO SUBMIT DEVELOPMENT PLAN FOR PECAN FIELD OFF GHANA BY END-MARCH 2019.AKER CEO SAYS COMPANY REMAINS "OPEN TO DIALOGUE" ABOUT POTENTIAL M&A INVOLVING ITS OIL SERVICE BUSINESS.  Full Article

China's SDIC Power confirms intention to float on London Stock Exchange

LONDON, Nov 26 Chinese power generation group SDIC Power Holdings launched plans to offer global depositary receipts in London on Tuesday, saying it expects to complete the deal in December this year.