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Aker BP ASA (AKERBP.OL)

AKERBP.OL on Oslo Stock Exchange

253.20NOK
17 Jul 2019
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Latest Key Developments (Source: Significant Developments)

Aker BP Q2 EBITDA Falls To $522 Million
Friday, 12 Jul 2019 

July 12 (Reuters) - Aker BP ASA ::AKER BP SECOND QUARTER AND FIRST HALF YEAR 2019 REPORT.AKER BP Q2 TOTAL INCOME $785 MILLION VERSUS $925 MILLION YEAR AGO.AKER BP Q2 EBITDA $522 MILLION VERSUS $698 MILLION YEAR AGO.AKER BP Q2 NET RESULT $62 MILLION VERSUS $128 MILLION YEAR AGO.TO PAY A QUARTERLY DIVIDEND OF USD 187.5 MILLION (USD 0.5207 PER SHARE) IN AUGUST 2019..COMPANY MAINTAINS ITS FULL-YEAR PRODUCTION ESTIMATE OF 155-160 MBOEPD..PRODUCTION COSTS FOR OIL AND GAS SOLD IN QUARTER AMOUNTED TO USD 198 (200) MILLION..MAINTAINS ITS GUIDANCE OF AROUND USD 12.5 PER BOE ON AVERAGE FOR FULL YEAR..INCREASED ITS EXPECTED EXPLORATION SPEND FOR YEAR TO AROUND USD 550 (500) MILLION..ALL FIELD DEVELOPMENT PROJECTS, INCLUDING JOHAN SVERDRUP, VALHALL FLANK WEST AND ÆRFUGL PROGRESSED ACCORDING TO PLAN..ABANDONMENT EXPENDITURES WERE USD 40 (21) MILLION.BOARD EXPECTS AN ADDITIONAL QUARTERLY DIVIDEND OF USD 187.5 MILLION TO BE PAID IN Q4.AMBITION IS TO INCREASE ANNUAL DIVIDENDS BY USD 100 MILLION PER YEAR UNTIL 2023..PHASE 1 OF THE JOHAN SVERDRUP DEVELOPMENT PROJECT IS PROGRESSING STEADILY TOWARDS PLANNED PRODUCTION START IN NOVEMBER 2019.PHASE 2 OF THE JOHAN SVERDRUP DEVELOPMENT IS ALSO PROGRESSING WELL.AKER BP SEES 2019 CAPITAL EXPENDITURE AT 1.6-1.7 BILLION VERSUS PREVIOUS GUIDANCE OF $1.6 BILLION.AKER BP SEES 2019 EXPLORATION EXPENSES AT ABOUT $550 MILLION VERSUS PREVIOUS GUIDANCE $500 MILLION.AKER BP SEES 2019 ABANDONMENT COSTS AT ABOUT $100 MILLION PREVIOUS GUIDANCE $150 MILLION.  Full Article

Aker BP Announces Oil Discovery In The NOAKA Area
Friday, 12 Jul 2019 

July 12 (Reuters) - Aker BP ASA ::AKERBP: OIL DISCOVERY IN THE NOAKA AREA.AKER BP IS ABOUT TO COMPLETE LIATÅRNET EXPLORATION WELL IN LICENCE 442 IN NOAKA AREA.WELL HAS PROVED OIL WITH A GROSS RESOURCE ESTIMATE OF 80-200 MMBOE.FURTHER DATA ACQUISITION AND ANALYSIS WILL BE UNDERTAKEN TO DETERMINE DRAINAGE STRATEGY AND RECOVERY FACTOR FOR DISCOVERY..  Full Article

Aker BP's Q2 Net Production 127,300 boe/day
Thursday, 4 Jul 2019 

July 4 (Reuters) - Aker BP ASA ::AKERBP: UPDATE ON SECOND QUARTER 2019 FINANCIAL RESULTS.COMPANY'S NET SALES OF OIL AND GAS AMOUNTED TO 140.7 THOUSAND BARRELS OF OIL EQUIVALENTS PER DAY IN QUARTER.NET PRODUCTION IN Q2 2019 WAS 127.3 THOUSAND BARRELS OF OIL EQUIVALENTS PER DAY (MBOEPD).PRODUCTION VOLUMES WERE LOWER THAN IN Q1 MAINLY DUE TO PLANNED MAINTENANCE AT SEVERAL FIELDS.UNAMORTIZED PORTION OF COSTS RELATED TO RBL, AMOUNTING TO APPROXIMATELY USD 35 MILLION, WILL BE EXPENSED IN Q2.FOR Q2, COMPANY EXPECTS TO REPORT A CURRENCY LOSS IN ORDER OF USD 10 MILLION.  Full Article

Notification Of Trade - Acquisition Of Treasury Shares
Thursday, 20 Jun 2019 

Aker BP ASA ::NOTIFICATION OF TRADE - ACQUISITION OF TREASURY SHARES.AKER BP HAS ON 20 JUNE 2019 PURCHASED 100,000 SHARES AT AN AVERAGE PRICE OF NOK 242.0088 PER SHARE.AFTER THIS TRANSACTION, COMPANY HOLDS 390.479 SHARES..  Full Article

Aker BP ASA Says Restated Q1 2019 Report Replaces Q1 Financial Reporting Announced By Co On 26 April 2019.
Monday, 10 Jun 2019 

June 10 (Reuters) - Aker BP ASA ::AKER BP ASA SAYS : RESTATED Q1 2019 REPORT REPLACES Q1 FINANCIAL REPORTING ANNOUNCED BY AKER BP ASA ON 26 APRIL 2019..AKER BP ASA - REISSUANCE OF CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS TRIGGERED BY A NOTES OFFERING INVOLVING PREPARATION OF A PROSPECTUS.  Full Article

Aker BP ASA Says Launch Of Offering Of $500 Mln Senior Notes Due 2024
Monday, 10 Jun 2019 

June 10 (Reuters) - Aker BP ASA ::AKER BP ASA ANNOUNCES LAUNCH OF OFFERING OF $500 MILLION SENIOR NOTES DUE 2024.AKER BP ASA SAYS INTEREST WILL BE PAYABLE SEMI-ANNUALLY.  Full Article

Okea to sublease rig from Aker BP for drilling at Draugen
Monday, 29 Apr 2019 

April 29 (Reuters) - OKEA::OKEA SAYS WILL SUBLEASE DEEPSEA NORDKAPP RIG FROM AKER BP TO DRILL WITHIN AND SURROUNDING THE DRAUGEN FIELD.  Full Article

Aker BP Q1 EBITDA $539 Million, Below Estimates
Friday, 26 Apr 2019 

April 26 (Reuters) - Aker BP ASA ::AKER BP Q1 OPERATING REVENUES $836 MILLION (REUTERS POLL $847 MILLION).AKER BP Q1 OPERATING PROFIT $286.5 MLN (REUTERS POLL $303 MLN).AKER BP Q1 NET RESULT $10 MILLION (REUTERS POLL $39.1 MILLION).AKER BP Q1 EBITDA $539 MILLION (REUTERS POLL $549 MILLION).REPEATS FULL YEAR 2019 GUIDANCE.PHASE 1 OF THE JOHAN SVERDRUP DEVELOPMENT PROJECT IS PROGRESSING STEADILY TOWARDS PLANNED PRODUCTION START IN NOVEMBER 2019.PHASE 2 OF THE JOHAN SVERDRUP DEVELOPMENT IS ALSO PRO¬GRESSING WELL.SAYS DISCUSSIONS ARE STILL ONGOING BETWEEN THE PARTNERS ON HOW TO DEVELOP THE NOAKA AREA.THE BOARD HAS RESOLVED TO PAY A QUARTERLY DIVIDEND OF USD 187.5 MILLION (USD 0.5207 PER SHARE) IN MAY 2019.AKER BP END-Q1 NET INTEREST-BEARING DEBT AT $2.5 BILLION (REUTERS POLL $2.28 BILLION).  Full Article

Aker BP to speed up development of Aerfugl field's 2nd phase
Thursday, 25 Apr 2019 

April 26 (Reuters) - Aker BP ASA ::AKER BP CEO SAYS NORWAY'S AERFUGL FIELD BREAK-EVEN COST IS NOW DOWN TO $15 PER BARREL FROM $18.5 AT THE TIME OF DEVELOPMENT PLAN SUBMISSION.AKER BP CEO SAYS AERFUGL DEVELOPMENT PHASE 1 IS ON TRACK FOR STARTING PRODUCTION IN 2020, PHASE 2 NOW EXPECTED TO START IN 2020/2021 VERSUS PREVIOUS VIEW OF 2023.AKER BP CFO SAYS Q2 PRODUCTION EXPECTED TO BE 30,000 BOEPD LOWER THAN IN Q1 DUE TO MAINTENANCE, WHILE PRODUCTION IN Q4 IS EXPECTED TO BE 30,000 BOEPD HIGHER DUE TO STARTUP OF SVERDRUP.AKER BP CFO SAYS PRODUCTION IN Q3 IS EXPECTED TO BE AROUND THE SAME LEVEL AS IN Q1, WITH FULL YEAR PRODUCTION GUIDANCE REMAINING UNCHANGED.  Full Article

Eidesvik Enters Into Frame Agreement With Aker BP
Friday, 1 Mar 2019 

March 1 (Reuters) - Eidesvik Offshore ASA ::EIDESVIK ENTERS INTO FRAME AGREEMENT WITH AKER BP.EIDESVIK ENTERS INTO FRAME AGREEMENT WITH AKER BP.DURATION OF FRAME AGREEMENT IS INITIALLY FOR THREE YEARS, WITH OPTION OF TWO ADDITIONAL PERIODS OF TWO YEARS EACH..HAS ENTERED INTO A FRAME AGREEMENT WITH AKER BP FOR PROVISION OF PLATFORM SUPPLY VESSELS (PSV)..  Full Article

UPDATE 2-Aker BP makes oil discovery off Norway

* Q2 net income $62 mln vs $128 mln a year ago (Adds comment on Sverdrup field, share)