Tag Archives | Tawke

Genel Energy Updates on Kurdistan Operations

Genel Energy has issued a trading and operations update for Q3 2017. The information has not been audited and may be subject to further review. Murat Özgül (pictured), Chief Executive of Genel, said: “During the quarter Genel executed a landmark settlement agreement with the KRG over historical receivables, which we expect to materially enhance our […]

DNO: First Payment under Kurdistan Receivables Settlement

DNO ASA, the Norwegian oil and gas operator, today reported the first payment from the Kurdistan Regional Government under the recently concluded agreement covering outstanding receivables for past crude oil deliveries. Under the agreement effective 1 August 2017, the Company was assigned the Government’s 20 percent interest in the Tawke license as well as three […]

KRG Makes Payments for July Oil Exports

Genel Energy has announced that the Taq Taq field partners have received a gross payment of $10.39 million from the Kurdistan Regional Government for oil sales during July 2017. Genel’s net share of the payment is $5.71 million. Gross oil sales from the Taq Taq field in July 2017 averaged 14,873 bopd, including both exports […]

Genel Energy Confirms Latest Oil Payments

By John Lee. Genel Energy has announced that the Taq Taq field partners have received a gross payment of $10.22 million from the Kurdistan Regional Government for oil sales during June 2017. Genel’s net share of the payment is $5.62 million. Gross oil sales from the Taq Taq field (pictured) in June 2017 averaged 15,863 […]

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 […]

DNO Shares Continue to Rise

By John Lee. Shares in Norway’s DNO continued to rise on Friday, following yesterday’s announcement of a “landmark settlement of outstanding receivables ” with the Kurdistan Regional Government (KRG). At market close on Friday, the shares had gained 13.8 percent on the day, and 35 percent since Thursday morning. However, DNO’s partner in Iraqi Kurdistan, […]

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 […]

Genel Shares Rise on KRG Deal

Genel Energy has announced a definitive agreement with the Kurdistan Regional Government (KRG) relating to unpaid entitlements for past oil sales from the Taq Taq and Tawke fields. The company’s shares were trading up 7 percent on Thursday morning. Cash flow is expected to be materially enhanced over the course of the agreement, delivering significant […]

DNO announces Strong Revenues

DNO ASA, the Norwegian oil and gas operator, today announced half-year 2017 revenues were up 43 percent from the same period last year following regular export payments in the Kurdistan region of Iraq. Free cash flow jumped four-fold to USD 157 million on operated production of 114,000 barrels of oil equivalent per day (boepd) during […]

DNO receives Payment for Tawke May Deliveries

DNO ASA, the Norwegian oil and gas operator, has reported receipt of USD 39.59 million from the Kurdistan Regional Government as payment towards May 2017 crude oil deliveries to the export market from the Tawke license. The funds, to be shared pro-rata by DNO and partner Genel Energy plc, include USD 33.21 million towards monthly […]

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 […]

DNO and Genel report Payment for Oil Exports

By John Lee. Norway’s DNO has reported receipt of $40.66 million from the Kurdistan Regional Government (KRG) as payment towards April 2017 crude oil deliveries to the export market from the Tawke license. The funds, to be shared pro-rata by DNO and partner Genel Energy, include $34.10 million towards monthly deliveries and $6.56 million towards […]