Tag Archives | Peshkabir

Production at Tawke and Peshkabir up 20%

By John Lee. DNO ASA, the Norwegian oil and gas operator, today announced what it described as solid first half 2019 financial and operating results as the company continued to deliver the largest drilling program in its 48-year history: “H1 2019 revenue totalled USD 470 million, up 62 percent from the same period last year, […]

Stephen Whyte to step down at Genel Energy

Stephen Whyte, Chairman of Genel Energy, gave the following update on the business at the Company’s Annual General Meeting, held in London on Thursday: Genel had a very successful 2018, with free cash flow generation of $164 million even while making significant investment in growth. 2019 has seen us continue this success. We are delivering […]

Peshkabir has generated $1bn, 4x Total Spend

DNO, as operator of the Tawke field in Iraqi Kurdistan, has today issued an update on licence activity. Gross production from the Tawke licence, containing the Tawke and Peshkabir fields, averaged 126,759 bopd during the first quarter of 2019. Tawke production currently averages c.73,000 bopd, and Peshkabir c.54,000 bopd. There is an active 2019 drilling […]

DNO to spend $250m in Kurdistan this year

DNO ASA, the Norwegian oil and gas operator, today reported USD 35 million in first quarter 2019 operating revenues from its newly acquired North Sea assets, bringing the total quarterly figure across the portfolio to USD 204 million. The Company generated a net profit of USD 51 million and exited the quarter with a cash […]

DNO Increases Oil Reserves, Shares Rise

Shares in DNO ASA, the Norwegian oil and gas operator, were trading up five percent on Monday afternoon following the company’s announcemnt that it has replaced 2018 production through additions to reserves, marking the second consecutive year in which the Company’s replacement of proven reserves reached or exceeded 100 percent of production. “DNO’s stellar record […]

DNO Reports Record Revenues

DNO ASA, the Norwegian oil and gas operator, today announced 2018 net profit of USD 354 million on revenues of USD 829 million, the highest annual revenues in the Company’s 47-year history. Cash flow from operations increased 40 percent to USD 472 million in 2018, of which USD 334 million represented free cash flow. Operated […]

“Peshkabir is on Steroids” – DNO Boss

DNO ASA, the Norwegian oil and gas operator, today announced a rise in third quarter 2018 net profit to USD 63 million from operating revenue of USD 171 million on the back of solid production, regular export payments and higher oil prices. Operated production averaged 117,600 barrels of oil equivalent per day (boepd) during the […]

Peshkabir Production Pushes 50,000 bpd

DNO ASA, the Norwegian oil and gas operator, today announced production at the Peshkabir field in the Kurdistan region of Iraq has ramped up to 50,000 barrels of oil per day (bopd), meeting the end-2018 target ahead of schedule and below budget. One of two recently completed wells, Peshkabir-7, is producing over 10,000 bopd from […]

DNO Presses Foot on Accelerator in Kurdistan

DNO ASA, the Norwegian oil and gas operator, today announced plans for its first dividend distribution to shareholders in 13 years following release of strong half-year 2018 results, including revenues of USD 289 million which were up 83 percent from the same period last year. The Company also reported a net profit of USD 61 […]

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 […]

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 […]

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 […]