GlobeNewswire

DNO Operations Update

Share

Oslo, 18 January 2021 – DNO ASA, the Norwegian oil and gas operator, today announced net production of 95,100 barrels of oil equivalent per day (boepd) across its portfolio in 2020, notwithstanding the sharp decline in planned spending to preserve cash following the market turmoil triggered by the Covid-19 pandemic. 

Gross operated production from the Company’s flagship Tawke license in the Kurdistan region of Iraq, about evenly split between the Tawke and Peshkabir fields, averaged 110,300 barrels of oil per day (bopd) with 77,700 bopd net to DNO’s interest. Last year was the sixth consecutive year in which gross Tawke license production has averaged over 100,000 bopd.

“With higher oil prices and more visibility on Kurdistan export payments, DNO will ramp up drilling of new development wells at the Tawke license to as many eight this year from only one in 2020 and conduct multiple workovers on existing producing wells in our drive to maintain production above 100,000 bopd,” said Bijan Mossavar-Rahmani, DNO's Executive Chairman.

Monthly entitlement and override payments were withheld early in 2020 by the Kurdistan Regional Government (KRG) which was itself hit by lower oil revenues and economic dislocations caused by the pandemic. After a four-month hiatus, entitlement payments were resumed in March 2020 and override payments will resume in January 2021. The KRG has put a plan in place to make payments towards DNO’s arrears (USD 259 million) such that if Brent prices exceed USD 50 per barrel in any month, the incremental revenue will be shared 50-50 between the KRG and the Tawke license partners. Discussions continue to further improve the terms of recovery of the arrears.

In other developments, in mid-December 2020 the Tawke license passed the milestone of 350 million barrels of oil produced, including 300 million from the Tawke field and 50 million from the Peshkabir field. DNO operates and has a 75 percent stake in the Tawke license with partner Genel Energy plc holding the balance.

Production from DNO’s non-operated North Sea assets contributed another 17,300 boepd net to the Company’s interest in 2020, unchanged from a year earlier, following the drilling of three development wells and multiple well interventions across the 11 producing fields in Norway and the UK. The Company expects six to eight development wells will be spud in 2021.

Based on preliminary financial reporting, DNO received cash proceeds from oil and gas revenues and tax refunds of USD 835 million in 2020, including USD 376 million from Kurdistan (of which USD 197 million represented recovery of capital and operating expenses on the Tawke license) and USD 459 million from the North Sea (of which USD 236 million represented Norwegian and UK tax refunds). DNO’s operational spend last year totaled USD 515 million in line with previous guidance and the Company expects this figure to increase to USD 700 million this year based on currently sanctioned exploration and development projects.

Also according to preliminary figures, the Company exited 2020 with a cash balance of USD 475 million, essentially unchanged from the start of the year.

Between midyear 2020 and the end of the year, DNO captured, piped and reinjected a total of 2.4 billion cubic feet (bcf) of Peshkabir field gas which otherwise would have been flared into the Tawke field for pressure maintenance, leading to an estimated 200,000 barrels of incremental oil recovery and 400,000 barrels of reduced field water production. Another 0.3 bcf of gas were reinjected into the Peshkabir field itself.

This gas capture equates to a reduction of greenhouse gas emissions in 2020 of 160,000 tonnes of CO2 equivalent and halves the average carbon intensity of the Company’s operated production to approximately 7 kilograms CO2 equivalent for each barrel of oil equivalent produced (kg CO2e/boe). The figure is one-third the target set by a group of 12 of the world’s largest oil companies comprising the Oil and Gas Climate Initiative to reduce the average carbon intensity of their aggregated upstream oil and gas operations to between 20-21 kg CO2e/boe by 2025.

DNO will present its 2020 fourth quarter and full-year results on 11 February 2021.

For further information, please contact:
Media: media@dno.no
Investors: investor.relations@dno.no

DNO ASA is a Norwegian oil and gas operator focused on the Middle East and the North Sea. Founded in 1971 and listed on the Oslo Stock Exchange, the Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, the United Kingdom, Netherlands, Ireland and Yemen.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.





About GlobeNewswire

GlobeNewswire
GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://globenewswire.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire

Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire

Better Collective – Share buyback program completed5.3.2021 19:30:00 CETPress release

Regulatory Release 4/2021 On March 4, 2021 Better Collective A/S initiated a share buyback program for up to EUR 100,000, to be executed during the period from March 4, 2021 to March 31, 2021. The following transactions have been executed under the program on March 5, 2021 Date Number of sharesAverage weighted purchase price (SEK per share)Amount (SEK)05/03/20213,532197.2223696,598.16Accumulated under the program following above purchase:3,532197.2223696,598.16 Better Collective A/S holds 3,773 treasury shares corresponding to 0,01 % of the outstanding share capital of the company. The share buyback program is hereby completed. Contacts Investor Relations: Christina Bastius Thomsen +45 2363 8844 e-mail: investor@bettercollective.com This information is such information as Better Collective A/S is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above on March 5, 2021 at 7.3

TGS Share Repurchase5.3.2021 17:51:25 CETPress release

Oslo, Norway (5 March 2021) – On period from 2 March 2021 to 4 March 2021, TGS-NOPEC Geophysical Company ASA (TGS) purchased 41,000 own shares on the Oslo Stock Exchange at an average price of NOK 141.2252 per share. Following the purchase, TGS holds 195,000 own shares, representing 0.166% of the total outstanding shares. The shares were purchased in connection with the share repurchase announced on 11 February 2021. Overview of transactionsDateAggregated daily volume (number of shares)Weighted average share price per day (NOK)Total daily transaction value (NOK)2-Mar-2120,000140.90672,818,1343-Mar-2120,000141.57002,831,4004-Mar-211,000140.7000140,700Previously disclosed buy-backs under the program (accumulated)79,000138.327910,927,901Accumulated under the buy-back program120,000139.317816,718,135The issuer's holding of own shares:Following the completion of the above transactions, TGS owns a total of 195,000 own shares, corresponding to 0.166% of TGS' share capital.Appendix:An overview

Bavarian Nordic to Host Full Year 2020 Results Conference Call5.3.2021 17:30:00 CETPress release

COPENHAGEN, Denmark – March 5, 2021 - Bavarian Nordic A/S (OMX: BAVA, OTC: BVNRY) will announce its 2020 annual report on Friday, March 12, 2021. The management of Bavarian Nordic will host a conference call at 2:00 pm CET (8:00 am EST) on the same day to present the full-year results followed by a Q&A session. A live and replay version of the call and relevant slides will be available at http://bit.ly/3rkKNed. To join the Q&A session dial one of the following numbers and state the participant code 5589045: Denmark: +45 32 72 80 42, UK: +44 (0) 844 571 8892, USA: +1 631-510-7495. About Bavarian Nordic Bavarian Nordic is a fully integrated vaccines company focused on the development, manufacture and commercialization of life-saving vaccines. We are a global leader in smallpox vaccines and have been a long-term supplier to the U.S. Strategic National Stockpile of a non-replicating smallpox vaccine, which has been approved by the FDA under the trade name JYNNEOS®, also for the protection

Bavarian Nordic afholder telefonkonference i forbindelse med offentliggørelse af årsregnskabet for 20205.3.2021 17:30:00 CETpressemeddelelse

KØBENHAVN, 5. marts 2021 – Bavarian Nordic A/S (OMX: BAVA) offentliggør årsregnskab for 2020 på fredag den 12. marts 2021. Samme dag afholder selskabets ledelse en telefonkonference kl. 14:00 dansk tid med henblik på at præsentere årsregnskabet og besvare eventuelle spørgsmål. Det er muligt at høre en live eller arkiveret webcast af telefonkonferencen samt downloade den tilhørende præsentation på http://bit.ly/3rkKNed. For at stille spørgsmål på telefonkonferencen, benyt venligst et af følgende telefonnumre og oplys deltagerkoden 5589045: Danmark: +45 32 72 80 42, UK: +44 (0) 844 571 8892, USA: +1 631-510-7495. Om Bavarian Nordic Bavarian Nordic er et fuldt integreret vaccineselskab, der er fokuseret på udvikling, produktion og kommercialisering af livsvigtige vacciner. Vi er globalt førende inden for koppevacciner, og er mangeårig leverandør til det amerikanske strategiske nationale beredskabslager af en ikke-replikerende koppevaccine, som er godkendt af de amerikanske sundhedsmyndigh

ASM INTERNATIONAL N.V. PUBLISHES ANNUAL REPORT 20205.3.2021 16:27:39 CETPress release

Almere, The Netherlands March 5, 2021 ASM International N.V. (Euronext Amsterdam: ASM) today publishes its Annual Report 2020. For the first time, ASMI publishes the Annual Report in accordance with European Single Electronic Format (ESEF) reporting requirements with the format of the report being Extensible Hypertext Markup Language (xHTML). In line with the ESEF requirements, the primary consolidated financial statements have been labelled with XBRL tags. ASMI's Annual Report 2020 is available in ESEF reporting package, HTML file and as a PDF file on the company's website www.asm.com. ASMI will hold its Annual General Meeting of Shareholders (AGM) on May 17, 2021. The AGM agenda with all related documents will be available in due time. About ASM International ASM International NV, headquartered in Almere, the Netherlands, its subsidiaries and participations design and manufacture equipment and materials used to produce semiconductor devices. ASM International, its subsidiaries and pa

CONDITIONS FOR RIKSBANK REVERSED AUCTIONS SEK MUNICIPAL BONDS5.3.2021 16:20:00 CETPress release

Anbudsförfarande kommuner och regioner, 2021-03-09BondsFixed rate notes issued in SEK by Municipalities or Regions with maturity in: 2024 The following issuers are accepted for delivery: Göteborgs Stad Helsingborgs Stad Jönköpings Kommun Malmö Stad Region Skåne Stockholms Stad Region Stockholm Delivery may not be made in Bonds purchased by the Counterparty from the issuer less than one week prior to the date for announcing the Specific terms, i.e. the purchase may not have been made after: 2021-02-26BidsBids are made to tel 08-696 69 70 and confirmed in writing by a filled-in Bid form by e-mail to EOL@riksbank.se Bid date2021-03-09Bid times10.00-11.00 (CET/CEST) on the Bid dateRequested volume (corresponding nominal amount)SEK 1000 +/- 1000 millionHighest permitted bid volume (corresponding nominal amount)The total bid volume from one Counterparty for the two Credit rating classes may not exceed SEK 1 000 million. No bid may contain Bonds exceeding SEK 1000 million issued by Stockholms

CONDITIONS FOR RIKSBANK REVERSED AUCTIONS SEK TREASURY BILLS5.3.2021 16:20:00 CETPress release

Bid procedure, 2021-03-08BillsSWEDISH T-BILL: SE0015504907. 2021-05-19 SWEDISH T-BILL: SE0014808747, 2021-09-15 Bid date2021-03-08Bid times09.00-10.00 (CET/CEST) on the Bid dateRequested volume (corresponding nominal amount)SE0015504907: 500 mln SEK +/-250 mln SEK SE0014808747: 500 mln SEK +/-250 mln SEK Highest permitted bid volume (corresponding nominal amount)SE0015504907: 500 mln SEK per bid SE0014808747: 500 mln SEK per bid Lowest permitted bid volume (corresponding nominal amount)SEK 50 million per bidExpected allocation timeNot later than 10.15 (CET/CEST) on the Bid dateDelivery and payment date2021-03-10Delivery of billsTo the Riksbank's account in Euroclear Sweden AB's securities settlement system 1 4948 6383 Stockholm, 2021-03-05 This is a translation of the special terms and conditions published on www.riksbank.se. In the case of any inconsistency between the English translation and the Swedish language version, the Swedish language version shall prevail. Complete terms and