• 3/30/2011

    Noreco contemplates bond issue

    Stavanger, 30 March 2011: Norwegian Energy Company ASA (Noreco, OSE: NOR) is contemplating the issuance of a new senior secured bond with maturity date in April 2016. The borrowing amount is minimum NOK 550 million, however not more than NOK 600 million. The net proceeds from the contemplated bond issue will be used for (i) financing of Noreco's share of the costs associated with the Oselvar development and (ii) other petroleum activities on the Norwegian continental shelf.   First Securities...
  • 3/30/2011

    Noreco appoints Chief Operating Officer

    Stavanger, 30 March 2011: Norwegian Energy Company (Noreco) has appointed Ellen Sandra Bratland as new Chief Operating Officer.   Bratland has been working for Noreco since 2008 and comes from the position as Asset Manager for Noreco's field developments in Norway and UK.   Bratland holds a M.Sc. degree in Chemical Engineering from the Norwegian University of Science and Technology, Trondheim and a M.Sc. from the University of Idaho. She has 25 years of broad experience from the industry and...
  • 3/29/2011

    Noreco to keep Oselvar

    Stavanger, 29 March 2011: Norwegian Energy Company (Noreco) has chosen to terminate the agreement to sell Noreco's interests in the Oselvar and Enoch fields to Marubeni Corporation (Marubeni).

  • 3/23/2011

    Noreco to remain independent

    Stavanger, 23 March 2011: Norwegian Energy Company ASA (Noreco) in October announced it had commenced a broad review of its strategic alternatives to enhance shareholder value. Through this review, Noreco and its advisors have been in dialogue with a number of interested parties and examined different structural alternatives, including mergers and sale of all or parts of the company.

  • 3/7/2011

    Production February 2011

    Stavanger, 7 March 2011: Norwegian Energy Company ASA (Noreco, OSE:NOR) in February 2011 produced 11,025 barrels of oil equivalents (boe) per day. Net realized oil price was USD 101.7 per boe after adjustments for oil put options, inventory and NGL and gas prices.

  • 3/3/2011

    Oselvar and Enoch divestment update

    Stavanger, 3 March 2011: Norwegian Energy Company (Noreco) in September 2010 announced an agreement to sell its shares in the Oselvar and Enoch fields in Norway to Marubeni Corporation. The parties have now been informed that the buyer does not yet fulfil the requirements applicable to a licensee on the Norwegian Continental Shelf.

  • 2/21/2011

    Drilling on Ronaldo has started

    Stavanger, 21 February 2011: Norwegian Energy Company ASA (Noreco, OSE:NOR) is pleased to announce that drilling of exploration well 6507/8-8 has started. Target for the well is the Ronaldo prospect.

  • 2/17/2011

    Continued growth in oil and gas reserves for Noreco

    Stavanger, 17 February 2011: Norwegian Energy Company ASA (Noreco) today publishes its Annual Statement of Reserves. Total proven and probable (2P) oil and gas reserves at the end of 2010 was 45.8 million barrels of oil equivalents (mmboe), up from 37.2 mmboe the year before.

  • 2/17/2011

    Noreco reports fourth quarter 2010 results

    Stavanger, 17 February 2011: Norwegian Energy Company ASA (Noreco, OSE:NOR) today presents its fourth quarter 2010 results, with EBITDA of NOK -66 million and a net result of NOK -135 million. For the full year 2010, EBITDA was NOK 699 million and the net result was NOK 5 million.

  • 2/8/2011

    Invitation to Noreco Q4 2010 Presentation and Webcast

    Stavanger, 8 February 2011: Norwegian Energy Company ASA (Noreco - OSE:NOR) will present the results for Q4 2010 on Thursday 17 February 2011 at 08.30 Norwegian time.

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