US/UK/Canada

Share

About Us

OKEA is an oil company established in Trondheim 2015. OKEA will contribute to the value creation on the Norwegian Continental Shelf with cost effective development and operation systems.

Links

Pick a time period -
Tags ( Active)

Eight production licences awarded to OKEA in APA 2024

(Trondheim, 14 January 2025) – OKEA ASA (OSE: OKEA) (“OKEA”) has been offered interests in eight new production licences on the Norwegian continental shelf, through the Awards in Pre-Defined Areas (APA) for 2024.The awards announced today further strengthen OKEA’s portfolio of near-field exploration opportunities around the Draugen, Gjøa, Brage and Ivar Aasen production hubs. The company now holds interests in 21 exploration-focused licences. PL 1266 and PL 1252 are awarded with OKEA as the operator. The new OKEA-operated licences are located close to the Draugen field in the Norwegian

OKEA farms into Horatio exploration well through Mistral swap

Trondheim, 19 December 2024 - OKEA ASA (OSE: OKEA) ("OKEA") is pleased to announce that it has entered into an agreement with DNO Norge AS ("DNO") to swap a 10% working interest (“WI”) in PL 1119 containing the Mistral prospect, for a 10% WI in PL 1109 containing the Horatio prospect. Effective date of the transaction is 1 January 2025.There is no consideration to be paid by either party for the swap of working interests. Each party will carry its relative share of the drilling costs for the respective wells. The transaction will further diversify OKEA’s exploration portfolio. Following

OKEA ASA – Drilling operation in PL 1014 (Arkenstone) temporarily suspended

(Trondheim, 17 December 2024) OKEA ASA (OSE: OKEA). Drilling operations on the NO 6610/7-3 exploration well operated by Equinor, have been temporarily suspended after shallow gas was encountered during the drilling operations.Two pilot wells were drilled to assess the presence of shallow gas above the reservoir. Shallow gas was encountered, and the drilling operations have been temporarily suspended. The wells were drilled from the semi-submersible rig, Deepsea Atlantic. Both pilot wells have been securely plugged with cement, and the partners in the license will focus on well

OKEA ASA – Transaction where OKEA sells its 15% WI in Yme to Lime completed

(Trondheim, 29 November 2024) - OKEA ASA (OSE: OKEA) today announces completion of the sale transaction of 15% WI in the Yme license to Lime Petroleum AS (Lime).Reference is made to the stock exchange announcement on 23 September 2024, where OKEA announced that it had entered into an SPA with Lime for the sale of its 15% working interest (“WI”) in the Yme license for a post-tax cash consideration of USD 15.65 million (the "Transaction"). Effective date of the Transaction is 1 January 2024. In addition, Lime will pay OKEA a post-tax consideration of USD 9.2 million in 2027 which will be

OKEA ASA - Third quarter 2024 financial results

(Trondheim, 31 October 2024) - OKEA ASA (OSE: OKEA) delivered operating income of NOK 2,926 (2,583) and EBITDA of NOK 1,975 (1,617) million in the third quarter of 2024. A net impairment income of NOK 871 (- 267) million was recognised, comprising NOK 1,185 (- 144) million in reversal of previous impairments following sale of the Yme asset, partly offset by NOK - 316 (- 121) million in technical goodwill impairment of the Statfjord area and Ivar Aasen. Total liquidity amounted to NOK 3,865 (3,182) million.(Amounts in parentheses refer to previous quarter) “I am pleased to report

OKEA third quarter 2024 trading update

(Trondheim, 24 October 2024) OKEA ASA (OSE: OKEA) will publish its financial report for the third quarter of 2024 on Thursday 31 October at 06:00 (CEST). This trading update is provided to summarise production and sales volumes and related updates for the quarter.Third quarter 2024 production and sales   Unit Q3 2024 Q2 2024Total operating income MNOK 2,926 2,584Realised liquids price USD/boe 74.9 79.7Realised gas price USD/boe 68.9 65.7Net production

Invitation to OKEA’s third quarter of 2024 conference call

(Trondheim, 23 October 2024) OKEA ASA (OSE: OKEA) OKEA will publish its financial report for the third quarter of 2024 on Thursday 31 October at 06:00 CEST. A trading update summarising key figures for the quarter will be published on 24 October at 08:00 CEST.A presentation of the results will be held on Thursday 31 October through a webcast and audioconference starting 10:00 CEST. The presentation will be held by Svein J. Liknes (CEO) and Birte Norheim (CFO).The webcast can be followed at www.okea.noor OKEA Webcast Q3 2024 (royalcast.com) 

OKEA sells its 15% WI in Yme to Lime for a consideration of USD 15.65m

Trondheim, 23 September 2024 - OKEA ASA ("OKEA") is pleased to announce that it has entered into an agreement with Lime Petroleum AS ("Lime") to sell its 15% working interest in the Yme licence for a post-tax cash consideration of USD 15.65 million (the "Transaction"). Effective date of the Transaction is 1 January 2024 with expected closing before year-end 2024.Transaction highlights · Sale of 15% working interest (WI) in the Yme field · Fixed consideration of USD 15.65 million · All related decommissioning costs to be transferred to Lime. In addition, Lime will pay OKEA a post-

Completed purchases under board compensation package and mandatory notification of trade

Trondheim, 15 August 2024. OKEA ASA (the “Company”, or “OKEA”, ticker: “OKEA”) has today completed a share purchase on behalf of the members of the board of directors. The share purchase was made in connection with the compensation package for the board and in accordance with the resolution by the annual general meeting on 14 May 2024 (item 11). The shares purchased are subject to a 12-month lock-up period. The share purchase was executed by a broker on behalf of the board members, all of which are primary insiders. A total of 36,998 shares were purchased at an average price of NOK 23.

OKEA ASA - Second quarter 2024 financial results

(Trondheim, 17 July 2024) - OKEA ASA (OSE: OKEA) delivered operating income of NOK 2,584 (3,474) million and EBITDA of NOK 1,617 (2,159) million in the second quarter of 2024. An impairment charge of NOK 267 (158) million was recognised, comprising NOK 121 (247) million technical goodwill impairment of the Statfjord area and NOK 144 (reversal of 102) million impairment on the Yme asset. Cash and cash equivalents amounted to NOK 3,182 (2,130) million.(Amounts in parentheses refer to previous quarter) “I am very pleased that the strong performance, particularly from our operated assets, is

OKEA second quarter 2024 trading update

(Trondheim, 10 July 2024) OKEA ASA (OSE: OKEA) will publish its financial report for the second quarter of 2024 on Wednesday 17 July at 06:00 (CEST). This trading update is provided to summarise production and sales volumes and related topics and updates for the quarter.Second quarter 2024 production and sales   Unit Q2 2024* Q1 2024Total operating income MNOK 2,584 3,474Realised liquids price USD/boe 79.7 82.0Realised gas price USD/boe 65.7 55.1Net production

Invitation to OKEA second quarter 2024 conference call

(Trondheim, 9 July 2024) OKEA ASA (OSE: OKEA) OKEA will publish its financial report for the second quarter of 2024 on Wednesday 17 July at 06:00 CEST. A trading update summarising key figures for the quarter will be published on 10 July at 08:00 CEST.A presentation of the results will be held on 17 July through a webcast and audioconference starting 10:00 CEST. The presentation will be held by Svein J. Liknes (CEO) and Birte Norheim (CFO).  The webcast can be followed at www.okea.no or OKEA Webcast Q2 2024 (royalcast.com) 

OKEA ASA - Minutes of annual general meeting

(Trondheim, 14 May 2024) OKEA ASA (OSE: OKEA): On 14 May 2024 at 09:00 CET OKEA ASA held an annual general meeting as a virtual meeting with online participation. All proposals on the agenda were adopted. The minutes of meeting are attached and also available on https://www.okea.no/investor/general-meetings/. At the general meeting, Chaiwat Kovavisarach was re-elected as chairman of the board for a period of two years. The board of directors in OKEA ASA subsequently consists of the following shareholder-elected members: · Chaiwat Kovavisarach (Chairman) · Mike Fischer (vice

OKEA ASA: Successful Placement of Senior Secured Bond Issue

(Trondheim, 30 April, 2024): OKEA ASA (OSE: OKEA) ("OKEA" or the "Company") has successfully placed a new USD 125 million senior secured bond issue with a tenor of 4 years. The new bond will carry a fixed interest rate of 9.125% per annum. The transaction attracted strong interest from Nordic and international investors and was significantly oversubscribed. Net proceeds from the bond issue will be used to fund planned investments related to the recently sanctioned Bestla (previously named Brasse) development and general corporate purposes. In connection with the bond issue, the Company

OKEA ASA: Fixed Income Investor Meetings for Contemplated Senior Secured Bond

(Trondheim, 25 April, 2024): OKEA ASA (OSE: OKEA) ("OKEA" or the "Company") has mandated DNB Markets, a part of DNB Bank ASA, and Pareto Securities AS as Joint Global Coordinators and Joint Bookrunners and Arctic Securities AS as Joint Bookrunner to arrange a series of fixed income investor meetings commencing today. A new 4-year senior secured bond with an initial issue amount of USD 125 million may follow, subject to inter alia market conditions. Net proceeds from the contemplated bond issue will be used to fund planned investments related to the recently sanctioned Bestla (previously

OKEA ASA - First quarter 2024 financial results

(Trondheim, 25 April 2024) - OKEA ASA (OSE: OKEA) delivered operating income of NOK 3,474 (2,118) (correction from trading update of NOK 3,422) million and EBITDA of NOK 2,159 (1,661) million in the first quarter of 2024. The cash balance amounted to NOK 2,130 (2,301) million. An impairment charge of NOK 158 million was recognised in the quarter which comprises NOK 260 million of goodwill impairments from Statfjord, partly offset by NOK 102 million in reversal of previous impairments at Yme.(Amounts in parentheses refer to previous quarter) “The all-time high production in the quarter

OKEA webcast Q1 2024

OKEA ASA will release its first quarter 2024 results tomorrow Thursday 25 April 2024 at 06:00 CET. A presentation of the results will be held the same day through a webcast and audio conference starting 10:00 CET. The presentation will be held by Svein J. Liknes (CEO) and Birte Norheim (CFO).The webcast can be followed at www.okea.noor OKEA Webcast Q1 2024 (royalcast.com) Dial in details for the audioconference:  DK: +45 7876 8490 SE: +46 8 1241 0952 NO: +47 2195 6342 UK: +44 203 769 6819 US: +1

OKEA ASA - Notice of annual general meeting

(Trondheim, 19 April 2024) OKEA ASA (OSE: OKEA): The annual general meeting in OKEA ASA will be held on Tuesday 14 May 2024 at 09:00 (CEST) as a virtual meeting. The general meeting will be conducted as a virtual meeting only, accessible online via Lumi AGM. All shareholders will be able to participate in the meeting, vote and ask questions from smartphones, tablets or desktop devices. For further information regarding electronic participation, please refer to the guide available on https://www.okea.no/investor/general-meeting/. The deadline for notice of attendance, registration of

OKEA first quarter 2024 trading update

(Trondheim, 18 April 2024) OKEA ASA (OSE: OKEA) will publish its financial report for the first quarter of 2024 on Thursday 25 April at 06:00 (CET). This trading update is provided to summarise production and sales volumes and related topics and updates for the quarter.(Amounts in parentheses refer to previous quarter) First quarter 2024 production and sales Unit Q1 2024** Q4 2023***Total operating income MNOK 3,422 2,118Realised liquids price USD/boe* 82.0 83.4Realised

Invitation to OKEA first quarter 2024 conference call

(Trondheim, 17 April 2024) OKEA ASA (OSE: OKEA) OKEA will publish its financial report for the first quarter of 2024 on Thursday 25 April at 06.00 CET. A trading update summarizing key figures for the quarter will be published on 18 April at 08.00 CET.A presentation of the results will be held on 25 April through a webcast and audioconference starting 10:00 CET. The presentation will be held by Svein J. Liknes (CEO) and Birte Norheim (CFO).The webcast can be followed at www.okea.noor Okea Webcast Q1 2024 (royalcast.com) 

There are no items matching the current filter
There are no more items matching the current filter
Back to top

Subscribe