Tag Archives | Peshkabir

DNO Passes Peshkabir Production Target

DNO ASA, the Norwegian oil and gas operator, today announced that a fourth well has been put on production at the Peshkabir field in the Kurdistan region of Iraq pushing total output past the previously published target of 30,000 barrels of oil per day (bopd). The Peshkabir-5 well is currently producing around 8,000 bopd from […]

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DNO Picks Up Peshkabir Production in Kurdistan

DNO ASA, the Norwegian oil and gas operator, today announced a two-thirds increase in production from the Peshkabir field in the Tawke license in the Kurdistan region of Iraq to 25,000 barrels of oil per day (bopd) following completion of the Peshkabir-4 well testing program. The well has been placed on production at a rate […]

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Genel Energy Shares Up Sharply on AGM Statement

By John Lee. Shares in Genel Energy were trading up 8 percent on Thursday morning after the company announced a big jump in cash reserves and positive developments at Peshkabir: Stephen Whyte (pictured), Chairman of GenelEnergy plc gave the following update at the company’s Annual General Meeting this morning: “After a landmark 2017, Genel is […]

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DNO Expands and Accelerates Kurdistan Operations

DNO ASA, the Norwegian oil and gas operator, today announced expansion and acceleration of operations in the Kurdistan region of Iraq while building up its North Sea exposure. First quarter revenues, the highest in nearly four years, stood at USD 142 million and net profit at USD 18 million. The Company exited the quarter with […]

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Genel Energy Returns to Profit

Genel Energy has announced a return to profit. In its audited results for the year ended 31 December 2017, Murat Özgül (pictured), Chief Executive of Genel, said: “Another year of consistent payments by the KRG and a disciplined capital allocation strategy helped to generate material free cash flow in 2017. This was enhanced in the […]

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DNO announces Higher Revenues, Profits, Production, Reserves

DNO ASA, the Norwegian oil and gas operator, today released its 2017 Annual Report and Accounts together with its 2017 Annual Statement of Reserves and Resources and reported improvements across key financial and operational metrics. Annual 2017 revenues climbed to USD 347 million, up 72 percent from year earlier levels. Operating profit totaled USD 521 […]

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DNO: Revenues and Investment Rise Sharply

DNO ASA, the Norwegian oil and gas operator, today announced a 50 percent hike in 2018 spending in the Kurdistan region of Iraq to USD 250 million net to the Company on the back of higher revenues and regular export payments. Annual 2017 revenues stood at USD 347 million, up 72 percent from 2016, bolstered […]

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DNO Steps Up Production at Peshkabir Field

DNO ASA, the Norwegian oil and gas operator, today announced a tripling of production from the Peshkabir field in the Tawke license in the Kurdistan region of Iraq to 15,000 barrels of oil per day (bopd) following completion of the Peshkabir-3 well testing, stimulation and cleanup program. A total of 11 zones in a 1.2 […]

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DNO Flows Peshkabir-3 Well

DNO ASA, the Norwegian oil and gas operator, today announced flow rates of more than 3,000 barrels of oil per day (bopd) from the first zone tested in the Peshkabir-3 well in the Kurdistan region of Iraq. Nine other oil zones and one gas zone have been identified for testing in a 1.2 kilometer horizontal […]

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DNO Joins ExxonMobil on Baeshiqa License

DNO ASA, the Norwegian oil and gas operator, today announced an agreement with ExxonMobil to join the Baeshiqa [Bashiqa, Bashika] license in the Kurdistan region of Iraq. DNO will assume operatorship of the license with a 40 percent paying (32 percent net) interest, acquiring one-half of ExxonMobil’s position. ExxonMobil retains a 40 percent paying (32 […]

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DNO reaches Settlement with KRG; Shares Rise

Shares in Norway’s DNO ASA jumped 8.7 percent this morning following the announcement that the company has reached a “landmark settlement of outstanding receivables owed to the Company for past crude oil deliveries“, and the announcement of half-year revenues up 43 percent from the same period last year. Under the settlement, DNO has been assigned […]

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DNO Spuds Third Peshkabir Well; Resumes Field Appraisal

DNO, the Norwegian oil and gas operator, today announced resumption of appraisal drilling at the Peshkabir discovery on the Tawke license in the Kurdistan region of Iraq following extended testing of the Cretaceous and Jurassic reservoirs in the Peshkabir-2 well. The Company spud the Peshkabir-3 well on 8 July as part of a fast track […]

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