Tag Archives | Genel Energy

DNO, Genel, Update on Kurdistan Operations

DNO International ASA, the Norwegian oil and gas company, announced today that it has completed drilling of the Peshkabir-1 exploration well in the Kurdistan Region of Iraq and is preparing to test observed oil shows across three potentially producing intervals. Full and sidewall cores suggest a continuous hydrodynamic column within the Cretaceous interval and the […]

Heritage and Genel Up on Miran West-3 Update

Shares in Heritage Oil reversed their recent downward trend with a 10.9% gain on Tuesday, following the company's update on it's Miran West-3 well in the Kurdistan Region of Iraq ("Kurdistan"). Shares in partner company Genel Energy closed the day up 1.2%. Highlights Testing of a reservoir interval above the main Jurassic reservoir resulted in […]

Dunia Weekly Iraq Market Tracker

Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]

DNO, Genel, Strike Oil at Tawke-16

Shares in Norwegian oil firm DNO International¬† were up as much as 15% in intraday trading on Wednesday, following the company's announcement that it has stuck oil at its Tawke oilfield in Iraqi Kurdistan. Genel Energy, with which it shares the field, was up nearly 5% at one stage before falling back. The full text […]

Genel Shares Unchanged on $58m Loss

Shares in Genel Energy were largely unchanged following the announcement of a $58 million loss in its first set of year-end results. Highlights Successfully raised $2.1 billion through an IPO in June Established a top-class, highly experienced Board and management team Merged with Genel Energy International, gaining a world class portfolio of assets and readmitted […]

Heritage Commences Drilling at Miran East-1

Heritage Oil has announced that it has commenced drilling the Miran East-1 exploration well in the Kurdistan Region of Iraq. Highlights The Miran East-1 exploration well has commenced drilling with a second rig on the Miran Block in Kurdistan This is the first well to be drilled on the large, highly prospective Miran East structure, […]

HSBC Analysts Review Iraqi Oil Valuations

Analysts at HSBC have reviewed on Monday the prospects for companies operating in the Iraqi oil sector, and issued new price targets: Afren: reduces its discounted-cash-flow-(DCF)-based target price to 175p from 179p, and maintains an overweight rating; Dana Gas: maintains an overweight rating and a sum-of-the-parts-(SOTP)-based target of AED 0.64; Genel Energy: initiates coverage with […]

Kurdistan Oil Shares Lower on Miran West-3 Update

Shares in Heritage Oil have fallen more than 10% in the past two days following its announcement that drilling at Miran West-3 in Iraqi Kurdistan in taking longer than expected. The company owns 75% of the block, with Genel Energy owning 25%. Shares in Genel have shed 14% since Friday's close. CEO Tony Hayward commented: […]

Genel Energy Awaiting Approval on Chia Surkh Deal

Genel Energy is¬†still awaiting government approval for its plan to increase its interest in the Chia Surkh block in the Kurdistan Region of Iraq from 20% to 80% and to become the operator of the field. This morning (Thursday) the company issued the following update to the market: On 16 January 2012, Genel Energy plc […]

Dunia Weekly Iraq Market Tracker

Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]

Genel Energy Sets Out Its Plans

In the three months since its creation, the Anglo-Turkish independent, Genel Energy plc, has moved with "remarkable speed to build the foundations of what I believe will become a major regional oil and gas company," its chief executive Tony Hayward said on Thursday. Previewing a presentation he will make to capital markets, Hayward said revenues […]