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DNO - Reprising (25) XXV
teo
17:10 03.06.2017
#11459

Ang. Bijan sin lønn og godtgjørelse i DNO er den meget beskjeden i forhold til andre som har stilling arbeidene styreformann i Norske børsselskaper innenfor energisektoren. Røkke betaler sin styreformann, Eriksen, ca 30 millioner i året for samme stilling i Aker.
javelda
00:27 04.06.2017
#6010

ok teo. Antar du svarte på mitt innlegg, som viser at jeg ikke har særlig kunnskaper om dette emnet når det gjelder lønn til styreleder.
javelda
11:03 06.06.2017
#6011

Oslo (TDN Finans): Oljeproduksjonen fra DNO og Genel Energys Tawke-felt i irakisk Kurdistan var i mai 108.000 fat pr dag.

Det opplyser Genel i en melding tirsdag i forbindelse med selskapets generalforsamling.

Hittil i 2017 har snittproduksjonen fra feltet vært 110.000 fat pr dag, ifølge Genel.

For øvrig uttaler Genels styreleder Tony Hayward i meldingen at den økonomiske situasjonen i irakisk Kurdistan fortsetter å bedres.

Hayward sier at den stabile oljeeksporten genererer betydelige inntekter og at myndighetenes kostnadskuttprogrammer gjør at De kurdiske regionale myndighetene i Nord-Irak (KRG) er i ferd med å balansere budsjettet.

Vi forventer å fortsette å motta betalinger for eksport gjennom året, og arbeider med KRG for å akselerere tilbakebetalingene av fordringer for tidligere oljesalg, sier han.
javelda
17:02 08.06.2017
#6012

DNO kjøper og kjøper egne aksjer, men kursen stuper. Skjønner ikke helt dette.
Proact
18:48 08.06.2017
#1167

Sist olja var nede på dette nivået for vel en mnd. siden, var kursen betydelig lavere enn idag. Etter min mening kan dette ganske sikkert forklares nettopp med massivt kjøp av egne aksjer. Dersom videre kjøp av egne aksjer fortsetter, syns jeg godt DNO kan slippe kjøpskursen lavere ved å ta en pause.
Fanatic
19:14 08.06.2017
#28028

DNO kan ikke kjøpe mer enn 25% av gjennomsnittlig daglig volum i måneden forut for start av tilbakekjøpsprogrammet, så de kan ikke ta mer enn litt under 2 millioner aksjer på en dag uansett. Men det hjelper på å ta bort frie aksjer fra markedet litt etter litt etterhvert uansett.

Endret 08.06.2017 19:14 av Fanatic
javelda
21:04 08.06.2017
#6013

Takker.Lærer noe nytt hver dag.
OldNick
20:49 09.06.2017
#19178

Mer DNO-aksjer hentes inn.


DNO ASA: Mandatory Notification of Trade

Børsmelding
09.06.0217

Oslo - DNO ASA, the Norwegian oil and gas operator, today purchased 1,600,000 own shares at an average price of NOK 7.6108 per share.

The purchase is part of the share buyback program initiated on 24 March 2017.

Following this transaction, DNO holds 27,750,000 own shares.
Fanatic
08:05 15.06.2017
#28029

DNO Reports Payment for Tawke Deliveries

Oslo, 15 June 2017 - DNO ASA, the Norwegian oil and gas operator, today reported
receipt of USD 41.26 million from the Kurdistan Regional Government as payment
towards March 2017 crude oil deliveries to the export market from the Tawke
field.

The funds, to be shared pro-rata by DNO and partner Genel Energy plc, include
USD 34.60 million toward monthly deliveries and USD 6.65 million toward recovery
of outstanding receivables.

Tawke production in March averaged 108,853 barrels of oil per day (bopd), of
which 108,513 bopd was delivered for export through Turkey.

http://www.newsweb.no/newsweb/search.do?messageId=429686

Endret 15.06.2017 08:05 av Fanatic
Fanatic
16:45 15.06.2017
#28030

Oslo, 15 June 2017 - DNO ASA, the Norwegian oil and gas operator, today
purchased 1,600,000 own shares at an average price of NOK 7.5503 per share.

The purchase is part of the share buyback program initiated on 24 March 2017.

Following this transaction, DNO holds 29,350,000 own shares.
Beins
16:59 15.06.2017
#10714

DNO virker bankers nå for tida.
Pengene kommer helt jevnlig inn, mye cash til aksjekjøp.
Nye satsinger Iran, Norge.
ISIL i stor grad på retur.
Stort sett rolig internt i KRG-området.
Fanatic
17:27 15.06.2017
#28031

Daax Corporation fra Aserbajdsjan flagget forresten over 15% i Genel Energy i går også etter å ha flagget over 10% og 5% tidligere i vår.
Fanatic
16:42 20.06.2017
#28032

DNO ASA: Mandatory Notification of Trade

Oslo, 20 June 2017 - DNO ASA, the Norwegian oil and gas operator, today
purchased 1,400,000 own shares at an average price of NOK 7.3358 per share.

The purchase is part of the share buyback program initiated on 24 March 2017.

Following this transaction, DNO holds 30,750,000 own shares.

http://www.newsweb.no/newsweb/search.do?messageId=430100

Endret 20.06.2017 16:42 av Fanatic
yemaya 2
18:03 20.06.2017
#8489

Røverkjøp?
Fanatic
16:57 21.06.2017
#28033

DNO ASA: Mandatory Notification of Trade

Oslo, 21 June 2017 - DNO ASA, the Norwegian oil and gas operator, today
purchased 650,000 own shares at an average price of NOK 7.328 per share.

The purchase is part of the share buyback program initiated on 24 March 2017.

Following this transaction, DNO holds 31,400,000 own shares.

http://www.newsweb.no/newsweb/search.do?messageId=430203
OldNick
14:42 24.06.2017
#19235

Den Iraqiske sentralregjeringen vil forsøke med jurisiske midler å hindre olje-eksport fra Kurdistan til USA.

Baghdad may ramp up legal challenge to Kurdish crude exports

Prime Minister Abadi orders lawyers to block any attempt by the autonomous Kurdistan region to ship oil to the United States following reports that a tanker bearing KRG crude is en route.

Ben Lando of Iraq Oil Report
June 24, 2017
teo
17:36 24.06.2017
#11462

For investors in shale drilling, the party's over
By Collin Eaton Updated 1:40pm, Friday, June 23, 2017

Wall Street appears to have lost its taste for the resurgent U.S. shale industry as oil prices tumble and energy share prices fall.

Oil companies have only raised $3 million this month through selling new shares to investors, a dramatic drop in the public equity offerings that have helped fuel the return of drilling rigs across the nation this year.

It's a stark shift in investor sentiment after last month, when producers like Kosmos Energy and RSP Permian collected a combined $1 billion from stock-market investors. That was before U.S. oil prices took a month-long tumble of around 20 percent to $43.15 a barrel on Friday.

Some investor groups have said "they had little-to-no interest in providing a second lifeline to the industry," Houston investment bank Tudor, Pickering, Holt & Co. said in a note to clients on Friday.

"It's like you're having a party, and it's awesome, and then the parents come home, and the party's done," said David Pursell, head of macro research at Tudor Pickering. "There's no appetite to fund further growth. Oil prices went from the mid-$50s to the low $40s. It's a big change and it happened quickly."

The once-vibrant public equity markets had poured $8 billion into U.S. shale drillers in the three months after OPEC announced it would cut oil production, and the number of active U.S. drilling rigs boring has more than doubled since last summer.

But the in wake of the recent slump in oil prices, the oil companies that raised billions of dollars this year have seen their shares drop by 22 percent this year. If investors keep pulling back, the surge in drilling could slow sharply, Pursell said. And why wouldn't they? Other industries are performing much better than energy.

"The Dow's at record levels and energy isn't working," Pursell said. "It's just maximum indifference. You have to get the oil price up for investors to care."
In the note, Tudor Pickering analysts said some oil companies "will need to change course on capital plans sooner rather than later if crude continues to drift lower."

Endret 24.06.2017 17:40 av teo
Beins
17:46 24.06.2017
#10785

Dersom de større selskapene blir dominerende innen shale, kan også appetitten på høyere oljepris bli større, og det verste volum-racet avta etter hvert. Slik shale fungerer i dag, underminerer man en god del av superprofitten i bransjen. Og det rammer også de big oil kraftig.

For big oil er mindre wild west og bedre priser lukrativt, i hvert fall på papiret.
olejoerg
18:02 24.06.2017
#5065

Forskjellen er at de større selskapene har penger og kan velge strategi. Mesteparten av shale-selskapene er ikke i en posisjon der de kan velge strategi, deres handlinger dikteres av gedigen gjeld med påfølgende behov for likviditet.

Hvis du ikke har kapital til å betjene gjelden din fra cash-flow er det bare 2 muligheter, enten kaster du inn håndkleet eller så prøver du å låne mer penger. Men for å få låne mer må du selvfølgelig klare å skape inntrykk av at du er i en positiv trend med økende produksjon, du trenger bare litt mer kapital for å komme til nirvana. Det er dette som har skjedd innen shale, risikokapital har blitt pumpet inn i enorme kvanta på bakgrunn av løfter om lavere kostnader og økt produksjon. En del investorer har allerede begynt å tvile for en stund siden men har fortsatt i et forsøk på å redde sine tidligere investeringer. Men nå kan det se ut som risikoappetitten er borte og da vil man få svaret på hvorvidt disse selskapene klarer seg eller ei.

Personlig tror jeg 80-90% av disse selskapene har balance-sheets som er så fucked up at de ikke har mulighet til å klare seg. Det blir en stor omfordeling av verdier som også vil ramme kreditorer. Dette vil gjøre det vanskeligere å finansiere shale i fremtiden.
teo
18:47 24.06.2017
#11463

De store oljeselskapene står klar til å ta over ved konkurser i Shale Industrien. Exxon, ConocoPhillips, Chevron, Marathon, Occidental og Hess har alle kommunisert at de vil styre investeringene sine inn mot landmarkedet i USA.

Så det blir neppe produksjonsvolumene i Shale oil som reduseres framover, heller investeringene i store kostbare offshorefelt.

For øvrig har DNO kommunisert at Produksjon på Tawke lisensen er helt analog med Shale investeringer. Man investerer i nye brønner og får investeringen tilbakebetalt i løpet 4-6 måneder.

Endret 24.06.2017 18:49 av teo
gorwell
19:00 24.06.2017
#22678

olejoerg, det (innlegget ditt) er å gå på rosenrøde skyer. Dessverre. US shale selskaper tjener penger. Kanskje ikke mye, men de tjener penger. Ellers hadde det ikke vært vekst i produksjonen som vi ser nå.

Interessant fra teo, jeg har (on the record) vært i den leiren som har ment at Majors kan bruke tight oil og tar pits oppkjøp (USA, Canada) til å justere "fremtidsforventninger" vha behov for at de har behov for profitabilitet dvs med sine "billions on book" være istand til å kjøpe opp konkursbo for å SENKE produksjonsforventninger.

We're not through the woods yet.

teo, skal vi la gamle dager være gamle dager dvs komme oss videre fra gamle dagers støy?

gorwell
teo
19:06 24.06.2017
#11464

No bad feelings, gorwell

Selv om du var litt usaklig og "stor i kjeften" en stund.

Det som er interessant med Shaleoil er at vi her har sett et teknologisk kvantesprang som er uvanlig i en særdeles konservativ industri. Teknologiutviklingen fortsetter og kostnadene synker fortsatt. Shale play'et blir derfor neppe taperen i spillet om hvor oljeinvesteringene rutes de kommende år.

Endret 24.06.2017 19:14 av teo
gorwell
19:08 24.06.2017
#22679

That's me.

Pratast.

gorwell
Beins
20:16 24.06.2017
#10786

En Economist artikkel fra MArs om hvorfor shale har tjent lite penger til nå. Men håpet om fortjeneste er der likevel.

INSIDE the boardrooms and bars of Houston, the spiritual capital of America's energy industry, the swagger is back. The oil price may only be at $48, or half the level it was three years ago. But shale fracking-the business of getting oil and gas out of rocks by blasting them with water and sand-is booming once again after the crash of 2014-16. Exploration and production (E&P) companies are about to go on an investment spree. Demand is soaring for the industry's raw materials: sand, other people's money, roughnecks and ice-cold beer.

Shale's second coming is testament to Texan grit. But the industry's never-say-die spirit may explain why it has done next to nothing about its dire finances. The business has burned up cash for 34 of the last 40 quarters, according to figures on the top 60 listed E&P firms collected by Bloomberg, a data provider. With the exception of airlines, Chinese state enterprises and Silicon Valley unicorns-private firms valued at more than $1bn-shale firms are on an unparalleled money-losing streak. About $11bn was torched in the latest quarter, as capital expenditures exceeded cashflows. The cash-burn rate may well rise again this year.


Meanwhile, the prospect of rapidly rising production is rattling global energy markets. In particular it worries OPEC, a cartel of producers led by Saudi Arabia that aims to restrain output and keep prices stable and fairly high. Khalid al-Falih, Saudi's energy minister, warned of "irrational exuberance" on March 7th during an energy-industry conference in Houston.

When oil prices halved in just 16 weeks starting in late 2014, panic hit Texas, followed-for a while-by grim austerity. The number of drilling rigs in America dropped by 68% from peak to trough. Companies slashed investment. Over 100 firms went bankrupt, defaulting on at least $70bn of debt. Shale's retrenchment helped to stabilise the global oil price. Production in the lower 48 states (ie, excluding Alaska and Hawaii), and excluding federal waters in the Gulf of Mexico, has dropped by 15% over the past 21 months, equivalent to 1m bpd, or 1% of global output.

The partial recovery in the oil price, which at one point fell as low as $26, is only one factor behind renewed enthusiasm for shale. Houston's optimists also argue that the full geological potential of Texas's Permian basin has only just become apparent. Some experts think it could in time produce more barrels each day than Saudi Arabia does. That has offset gloom about falling production from other shale basins, such as the Bakken formation in western North Dakota. The industry has also lifted productivity. Drilling is faster, more selective and more accurate, and leakage rates are lower. Wells are being designed to penetrate multiple layers of oil that are stacked on top of each other.

But the fact that the industry makes huge accounting losses has not changed. It has burned up cash whether the oil price was at $100, as in 2014, or at about $50, as it was during the past three months. The biggest 60 firms in aggregate have used up $9bn per quarter on average for the past five years. As a result the industry has barely improved its finances despite raising $70bn of equity since 2014. Much of the new money got swallowed up by losses, so total debt remains high, at just over $200bn.

Oil bosses like to show off their newest wells in the Permian basin, which, they say, can now make internal rates of return of more than 50% over their working lives. But most firms have mediocre wells too, as well as corporate overheads, so their overall efficiency improvement has not been great. For the ten largest listed E&P firms, aggregate cash operating costs per barrel fell by $13 between 2014 and 2016; not enough to offset a $50 drop in the oil price. Because shale-energy fields run out far faster than traditional ones, firms must reinvest heavily to keep production flat.

Endret 24.06.2017 20:17 av Beins
Beins
20:19 24.06.2017
#10787

fots

It is instructive to compare shale with another natural-resources business that has had to cope with a collapse in commodity prices. In 2016 the mining industry's biggest companies ground out profits, produced cashflow after capital investments and made a decent return on capital. Yet despite this unflattering contrast, capital investment by American E&P companies will probably soar over the next year, by perhaps 50% or more.

There are two theories for why this is happening. One is that the way in which executives are paid, together with lenders' incentives, means that Houston is always vulnerable to investment mania. Not one of the ten biggest E&P firms, for example, puts significant emphasis in its pay scheme on how much return on capital it produces. Low interest rates make it easy for shale firms to borrow, and fee-hungry banks cheer on the spectacle. But the only way that the mania will end well is if oil prices rise sharply, bailing out the industry, or if E&P firms are bought by bigger energy firms. That is possible, but companies such as Exxon and Shell are too seasoned to pay a lot for small, unprofitable firms.

Houston, we still have a problem

The second explanation is oil executives' belief in increased output from the Permian, and higher productivity. Most E&P firms reckon they can expand production at an annual rate of 10-20% over the next few years. But to justify their market values, and make an adequate return on their cumulative capital invested, listed E&P firms would over time need to make about $60bn of free cashflow each year. Assuming that both energy prices and capital spending stay flat, that would require them roughly to double production from current levels.

The trouble is that this is a circular argument. If achieved across the whole shale industry it would mean that output would be twice as high as it is now, leading to a 5% increase in global supply, which might in turn lower the oil price. There is something heroic-and baffling-about America's shale firms. They are the marginal producer in a cyclical industry, and that is usually an unpleasant place to be. The oil bulls of Houston have yet to prove that they can pump oil and create value at the same time.

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