Press releases

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The latest and historical news about Noreco

  • 9/4/2015

    Production August 2015

    Stavanger, 4 September 2015: Net production for Norwegian Energy Company ASA (Noreco) in August 2015 is estimated at 3 561 barrels of oil equivalents (boe) per day. Net realised price in August was USD 42.2 per boe (USD 45.4 per barrel of oil) after adjustments for inventory, NGL and gas prices. Production per field in August 2015 (July 2015 in brackets): All in boepd Huntington – 3 084 (3 017) Oselvar – 478 (37) Lulita – 0 (7) Total – 3 561 (3 060) The Huntington field has had stable...
  • 8/31/2015

    Notice to Noreco Bondholders regarding interest payment due on NOR06 and NOR10

    Stavanger, 31 August 2015: With reference to NOR10 - 6.50 per cent Norwegian Energy Company ASA Senior Secured Callable Bond Issue 2015/2018 - ISIN 001 069703.0, Norwegian Energy Company ASA announces that the interest payment due 6 September 2015 will be settled in cash. With reference to NOR06 - 6.5 per cent Noreco Norway AS Senior Secured Callable Bond Issue 2015/2018 ISIN 001 060632.0, the interest payment due 6 September 2015 will be settled through the issuance of additional bonds (i.e....
  • 8/27/2015

    Noreco announces second quarter 2015 results

    Stavanger, 27 August 2015: Norwegian Energy Company ASA group (“Noreco” or the “Company”) and the subsidiary Noreco Norway AS (“Noreco Norway”) today announces results for the second quarter 2015. Further to the financial restructuring achieved, Noreco and Noreco Norway are now fully focused on implementing the renewed strategy. Noreco has taken proactive steps to deliver on its renewed strategy and is fully focused to limit future investment commitments, continue implementing cost saving...
  • 8/26/2015

    Presentation of second quarter interim report

    Stavanger 26 August 2015: As previously announced, Norwegian Energy Company ASA and Noreco Norway AS (Noreco) will publish interim reports for the second quarter on Thursday 27 August. The reports will be published on www.newsweb.no and www.noreco.com . Management will be available in an earnings call on Thursday 27 August at 09:00 CET. The presentation material for the call will be published in parallel with the interim reports. After a brief presentation, questions will be answered. Please...
  • 8/13/2015

    Part repayment of NOR10 bonds completed

    Stavanger 13 August 2015: With reference to notice of 2 July 2015, Norwegian Energy Company ASA ("Noreco") announces that it has today completed the early repayment in part of NOR10 bonds equaling NOK 243,108,458 plus accrued interests which in sum adds up to NOK 250,000,000. The bonds were repaid at par. The repayment is in line with the company strategy, which was developed as part of the recent financial restructuring. The company is working to limit investment commitments, reduce costs an...
  • 8/13/2015

    CFO Odd Arne Slettebø is leaving Noreco

    Stavanger, 13 August 2015: Odd Arne Slettebø, CFO of Noreco since November 2014, has handed in his resignation and his employment will cease on 31 October. Since Mr. Slettebø joined Noreco in 2012 he has played a central role within accounting, compliance and the restructuring processes during the past years. Noreco wishes to express its gratitude for his hard work for the company, and wishes him all the best in his future endeavours. Contact: Tommy Sundt, CEO Odd Arne Slettebø, CFO Tel.: +47...
  • 8/7/2015

    Production July 2015

  • 7/20/2015

    Noreco Norway announces dry Haribo well

    Stavanger, 20 July 2015: The Haribo exploration well has been drilled to total depth without encountering hydrocarbons. The well will now be plugged and abandoned. Noreco Norway AS (“Noreco Norway”), part of Norwegian Energy Company ASA group, holds a 20 per cent interest in the licence. Spudded on 21 June 2015 the well was drilled by the semi-submersible drilling rig Transocean Searcher on the Haribo prospect, which is located 10 km south west of the Valhall Field in the Norwegian part of th...
  • 7/7/2015

    Production June 2015

    Stavanger, 7 July 2015: Net production for the Norwegian Energy Company ASA (Noreco) group in June 2015 is estimated at 4 320 barrels of oil equivalents (boe) per day. Net realised price in June was USD 54.5 per boe (USD 60.6 per barrel of oil) after adjustments for inventory, NGL and gas prices. For the second quarter 2015 production was 4 894 (3 236 in Q1) boepd at an average net realised price of USD 55.6 per boe (USD 60.7 per barrel of oil). Production per field in June 2015 (May 2015 in...
  • 7/2/2015

    NOR10 – Exercise of call option

    Stavanger, 2 July 2015: Reference is made to announcement earlier today concerning early repayment of NOR 10 bonds issued by Norwegian Energy Company ASA (“Noreco”). Noreco has notified Nordic Trustee ASA whereby it in accordance with the terms of its NOK 600 million bond issue (ISIN NO 001069703.0) (NOR10) will redeem approx. NOK 243 million in principal amount of the bonds. The redemption price is equal to par value, plus accrued and unpaid interest to the date of settlement of the call...
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