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Aker BP ASA (AKERBP.OL)

AKERBP.OL on Oslo Stock Exchange

297.00NOK
19 Jun 2018
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Latest Key Developments (Source: Significant Developments)

Aker BP's Q1 profit beats forecast
Monday, 7 May 2018 

May 7 (Reuters) - Aker BP ASA ::AKER BP Q1 REVENUES $890 MILLION (REUTERS POLL $888 MILLION).AKER BP Q1 OPERATING PROFIT $472 MILLION (REUTERS POLL $449 MILLION).AKER BP Q1 NET RESULT $161 MILLION (REUTERS POLL $137 MILLION).AKER BP QUARTERLY DIVIDEND $0.3124 PER SHARE (REUTERS POLL $0.31).AKER BP SEES 2018 PRODUCTION AT 155-160 MBOEPD VERSUS PREVIOUS GUIDANCE OF 155,000-160,000 BOEPD.PLAN IS TO MAINTAIN THIS DIVIDEND LEVEL FOR REMAINING QUARTERS OF 2018, IMPLYING TOTAL ANNUAL DIVIDENDS OF USD 450 MILLION.BOARD'S AMBITION IS TO INCREASE ANNUAL DIVIDENDS BY USD 100 MILLION PER YEAR FROM 2019 TO 2021.AMBITION TO DEVELOP NOAKA AS FIRST ZERO EMISSION FIELD ON NCS.AKER BP SEES 2018 PRODUCTION COST AT ABOUT $12 PER BARREL VERSUS PREVIOUS GUIDANCE $12/BARREL.NOAKA AREA REPRESENTS A SIGNIFICANT NEW GROWTH OPPORTUNITY FOR AKER BP, WITH GROSS RESOURCES OF MORE THAN 500 MMBOE.AKER BP SEES 2018 CAPITAL EXPENDITURE AT $1.3 BILLION VERSUS PREVIOUS GUIDANCE $1.3 BILLION.RECOMMENDS DEVELOPING NOAKA WITH A NEW HUB PLATFORM, WHICH WOULD ENSURE PRODUCTION FROM ALL DISCOVERIES IN AREA AS WELL AS HIGHER RESOURCE RECOVERY AND SOCIO-ECONOMIC BENEFITS THAN ALTERNATIVE.AKER BP SEES 2018 EXPLORATION EXPENSES AT $350 MILLION VERSUS PREVIOUS GUIDANCE $350 MILLION.COMPANY IS TARGETING A NOAKA CONCEPT SELECTION IN 2018.AKER BP SEES 2018 DECOMMISSIONING COSTS AT ABOUT $350 MILLION PREVIOUS GUIDANCE $350 MILLION.  Full Article

Oil firm Aker BP's reserves rose in 2017 after acquisitions
Monday, 12 Mar 2018 

March 12 (Reuters) - Aker Bp Asa ::TOTAL NET PROVEN RESERVES (P90/1P) AS OF DEC 31 ESTIMATED AT 692 MILLION BARRELS OF OIL EQUIVALENTS‍​.AKER BP: TOTAL NET PROVEN PLUS PROBABLE RESERVES (P50/2P) ARE ESTIMATED AT 914 MILLION BARRELS OF OIL EQUIVALENTS.AKER BP SAYS 1P RESERVES INCREASED BY 163 MILLION DURING 2017 TO 692 MILLION BARRELS OF OIL EQUIVALENT.AKER BP SAYS 2P RESERVES INCREASED BY 202 MILLION DURING 2017 TO 914 MILLION BARRELS OF OIL EQUIVALENT.AKER BP: MAIN REASONS FOR INCREASE IN NET RESERVES ESTIMATE IN 2017 ARE THE NEW VALHALL DEVELOPMENT PROJECT VALHALL FLANK WEST, THE NEW AERFUGL DEVELOPMENT PROJECT AND THE INCREASED EQUITY TO 90 PERCENT IN VALHALL AND HOD.AKER BP: AT THE END OF 2017 JOHAN SVERDRUP ACCOUNTS FOR 33 PERCENT OF THE COMPANY'S RESERVES, DOWN FROM APPROXIMATELY 42 PERCENT IN 2016.  Full Article

Aker BP sees 2019 Capital spending similar to 2018
Monday, 15 Jan 2018 

Jan 15 (Reuters) - Aker Bp Asa ::AKER BP CFO ALEXANDER KRANE SEES 2019 CAPITAL SPENDING "PERHAPS NOT TOO FAR AWAY FROM WHERE WE ARE TODAY".AKER BP CFO SAYS DECOMMISSIONING COSTS ARE EXPECTED TO GO DOWN, WHILE EXPLORATION SPENDING DEPENDED ON DRILLING RESULTS THIS YEAR.  Full Article

Aker BP CEO says more M&A could further boost dividend
Monday, 15 Jan 2018 

Jan 15 (Reuters) - Aker BP ASA's : CEO Karl Johnny Hersvik said on Monday::COMPANY IS TARGETING FURTHER SELECTIVE M&A GROWTH TO INCREASE SHAREHOLDER VALUE "AND, IF POSSIBLE, TO INCREASE THE DIVIDENDS".  Full Article

Oil firm Aker BP completes takeover of Hess' Norway unit
Friday, 22 Dec 2017 

Dec 22 (Reuters) - Aker Bp Asa ::ACQUISITION OF HESS NORGE COMPLETED.‍ALL CLOSING CONDITIONS HAVE BEEN FULFILLED, AND CLOSING OF TRANSACTION TOOK PLACE ON 22 DECEMBER 2017​.  Full Article

Odfjell Drilling wins $105 mln Aker BP rig contract
Thursday, 21 Dec 2017 

Dec 21 (Reuters) - Odfjell Drilling Ltd ::‍FIRST CALL-OFF UNDER AKER BP ALLIANCE HAS BEEN RECEIVED TODAY​.COVERS A 12 MONTHS CONTRACT FOR DEEPSEA STAVANGER AND WILL START AS SOON AS UNIT RETURNS TO NORWAY AFTER ITS CONTRACT WITH TOTAL IN SOUTH AFRICA, EXPECTED TO BE IN Q2 2019​.‍FIRM CONTRACT VALUE IS APPROXIMATELY USD 105 MILLION EXCLUDING POTENTIAL PERFORMANCE BONUSES​.  Full Article

Aker BP buys 17 pct in Fishbones AS, to increase oil recovery
Monday, 18 Dec 2017 

Dec 18 (Reuters) - Aker Bp Asa ::AKER BP BUYS 17 PERCENT STAKE IN FISHBONES AS, AN UNCONVENTIONAL STIMULATION TECHNOLOGY APPLIED TO INCREASE THE PRODUCTION RATES IN TIGHT RESERVOIRS.AKER BP SEES A POTENTIAL FOR SUBSTANTIAL COST SAVINGS AND POTENTIAL FOR INCREASED RECOVERY BY USING THIS METHOD. THE TECHNOLOGY WILL INITIALLY BE APPLIED AT THE VALHALL FIELD.SUBSEQUENT TO AKER BP INVESTING IN FISHBONES, STATOIL TECHNOLOGY INVEST AS HOLDS A 25 PERCENT STAKE IN THE COMPANY AND FREYER HOLDING AS HOLDS 51 PERCENT. AKER BP WILL HAVE ONE SEAT IN THE BOARD OF DIRECTORS OF THE COMPANY.  Full Article

Aker BP awards Kvaerner contract close to $119 mln in value
Monday, 18 Dec 2017 

Dec 18 (Reuters) - Kvaerner Asa ::REG-KVÆRNER ASA: KVAERNER AWARDED CONTRACT FOR VALHALL FLANK WEST.‍TODAY, AKER BP HAS AWARDED KVAERNER A CONTRACT FOR DELIVERY OF TOPSIDE AND STEEL JACKET SUBSTRUCTURE FOR VALHALL FLANK WEST​.‍CONTRACT HAS A VALUE OF CLOSE TO 1 BILLION NORWEGIAN CROWNS ($119.40 million) FOR KVAERNER​.‍THIS IS FIRST PROJECT IN WELLHEAD PLATFORM ALLIANCE, WHICH WAS ESTABLISHED IN SPRING OF 2017 BETWEEN AKER BP, KVAERNER, ABB AND AKER SOLUTIONS​.  Full Article

Subsea 7 wins "sizeable" Aker BP contract award
Friday, 15 Dec 2017 

Dec 15 (Reuters) - Subsea 7 Sa ::SUBSEA 7 AWARDED CONTRACTS OFFSHORE NORWAY.‍AWARD OF TWO CONTRACTS FROM ALLIANCE PARTNER AKER BP IN NORWEGIAN NORTH SEA​.‍CONTRACTS ARE FOR SKOGUL PROJECT AND VALHALL FLANK WEST PROJECT, WHICH COLLECTIVELY ARE EQUIVALENT TO A SIZEABLE AWARD​.‍SUBSEA 7 DEFINES A SIZEABLE CONTRACT AS BEING BETWEEN USD 50 MILLION AND USD 150 MILLION​.‍SKOGUL PROJECT (PREVIOUSLY CALLED STORKLAKKEN) IS LOCATED 220 KM NORTHWEST OF STAVANGER. THIS EPCI PROJECT IS A LONG-DISTANCE TIE-BACK TO ALVHEIM FPSO​.‍VALHALL FLANK WEST EPCI PROJECT COMPRISES A 4 KM TIE-BACK TO VALHALL CENTRE INCLUDING AN UMBILICAL AND RISER SYSTEM​.‍OFFSHORE OPERATIONS WILL COMMENCE IN 2018 WITH COMPLETION IN 2019​.  Full Article

Aker BP restarts production on Tambar Field following Maersk Interceptor accident ​
Tuesday, 12 Dec 2017 

Dec 12 (Reuters) - Aker Bp Asa ::PRODUCTION RESUMES ON TAMBAR.‍ON TUESDAY, PRODUCTION STARTED UP AGAIN ON TAMBAR FIELD FOLLOWING ACCIDENT ON MAERSK INTERCEPTOR ON 7 DECEMBER​.‍PETROLEUM SAFETY AUTHORITY NORWAY AND POLICE ARE INVESTIGATING ACCIDENT​.  Full Article

UPDATE 2-Aker Energy buys Hess Ghana business, expects first oil in 2021

* Likely to seek financial or industrial partners (Adds interview with Aker CEO, share, details)