DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 53.71 million from the Kurdistan Regional Government as payment for October 2017 crude oil deliveries to the export market from the Tawke license. The funds will be shared by DNO and partner Genel Energy plc pro-rata to the companies' interests in the […]
Genel Energy has announced that RPS Energy Consultants, as part of its work on the updated competent person's reports ('CPRs') for the Bina Bawi and Miran West fields (Genel 100% and operator), has finalised its evaluation of the contingent gas resources at both assets: The RPS evaluation confirms a significant upgrade to the combined 2C […]
By John Lee. Genel Energy has announced that the Taq Taq partners have received a gross payment of $10.10 million from the Kurdistan Regional Government for oil sales during October 2017. Genel's net share of the payment is $5.55 million. (Source: Genel Energy)
By John Lee. Shares in Genel Energy closed the day up 5.9 percent on Wednesday, after the company's bondholders approved its proposal to reduce the outstanding bond debt from $421.8 million to $300 million. It will also extend maturity through amending and restating terms to a new 5 year tenor. DNB Markets and Pareto Securities […]
Genel Energy has announced the receipt of payments from the Kurdistan Regional Government (KRG) for oil sales during September 2017 from the Tawke and Taq Taq PSCs. DNO ASA, as operator of the Tawke PSC, has announced the receipt of $54.32 million from the KRG as payment towards September 2017 crude oil deliveries to the […]
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 […]
Genel Energy has announced that it has instructed the trustee for the GENEL01 bonds (ISIN: NO 001 0710 882) ('GENEL01' or 'the Bonds') to summons a bondholders' meeting to resolve a refinancing of the existing Bonds. The Company proposes to refinance GENEL01 through a partial early redemption and debt reduction by replacing the existing Bond Agreement […]
Genel Energy has announced an update on activity at the Taq Taq field (Genel 44% working interest). The TT-29w well, which was drilled to appraise the northern flank of the Taq Taq field, has been completed as a producer after successfully encountering oil bearing Cretaceous reservoirs. The well, which was drilled to a measured depth […]
Genel Energy has announced that the company has received an override payment of $6.41 million from the Kurdistan Regional Government (KRG). The payment represents 4.5% of Tawke gross field revenues for the month of September 2017, as per the terms of the Receivable Settlement Agreement. An entitlement invoice for that month's export deliveries has been […]
By Ahmed Tabaqchali. Originally published by Iraq in Context; re-published by Iraq Business News with permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Between February 2017 and mid-October, Rosneft signed a number of deals with the Kurdish Regional Government (KRG) that established for it, […]
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 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 […]
