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Stock Market & Financial Investment News

News Breaks
December 21, 2012
05:43 EDTSDRL, STOSeadrill subsidiary North Atlantic Drilling extends contract for West Epsilon
North Atlantic Drilling, a majority owned subsidiary of Seadrill (SDRL), announced that Statoil (STO) has exercised its option to extend the contract for the heavy-duty harsh environment jack-up rig West Epsilon by two years from December 2014 to December 2016. The estimated value of the contract extension is $215M.
News For SDRL;STO From The Last 14 Days
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February 27, 2015
09:47 EDTSTOStatoil submits Peregrino phase II development plan
Following the sanction of the Peregrino phase 2 project in December, Statoil together with its partner Sinochem submitted the plan of development to the National Agency of Petroleum, Natural Gas and Biofuels in Rio de Janeiro on January 30. The project entails a new well head platform and drilling rig and adds approximately 250M barrels in recoverable resources to Peregrino field. The project entails investments of approximately $3.5B. The Peregrino field has a good track record, with more than 90M barrels produced since first oil in April 2011. Based on the current plan, Peregrino Phase II is expected to start production towards the end of the decade, but Statoil will make adjustments to the schedule should that be necessary. The current solution consists of a wellhead platform with a drilling unit tied-back to the existing FPSO Peregrino. The facilities contains standalone power generation and will export power to WHP-A. A total of 21 wells -- 15 oil producers and 6 water injectors -- are planned to be drilled as part of the Phase II development. The expected recoverable resources from the Phase II development within the concession period until end of 2040 are 250M barrels.
February 26, 2015
05:53 EDTSDRLSeadrill reports Q4-end order backlog of $17.2B
Seadrill achieves 94% economic utilization* for its floater fleet and 98% for its Jack-up fleet for the fourth quarter 2014.
05:44 EDTSDRLSeadrill reports Q4 EPS 32c, consensus 63c
Reports Q4 revenue $1.26B, consensus $1.25B. Net income was negatively impacted by a non-cash impairment of goodwill of US$232 million relating to the Jack-up segment.
February 13, 2015
06:23 EDTSTOStatoil, partners to submit plans for Johan Sverdrup development
Statoil and its partners will submit the plan for development and operation for Johan Sverdrup, phase one, to the Norwegian Ministry of Petroleum and Energy. The capital expenditures for phase one are estimated at NOK 117B and the expected recoverable resources are projected at between 1.4-2.4 billion barrels of oil equivalent. For the full field development, capital expenditures are estimated at some NOK 170-220B with recoverable resources of between 1.7-3.0 billion barrels of oil equivalent. The Johan Sverdrup oil field is planned to be developed in several phases, Phase one consists of four bridge-linked platforms, in addition to three subsea water injection templates. The ambition is a recovery rate of 70%, with advanced technology for increased oil recovery in future phases taken into account. The development in phase one has a production capacity in the range of 315,000-380,000 barrels per day. First oil is planned for late 2019. The partnership, consisting of Statoil, Lundin Norway, Petoro, Det norske oljeselskap and Maersk Oil, has recommended Statoil as the operator for all phases of the field development and operation. The majority of the partnership has asked the Norwegian Ministry of Petroleum and Energy to determine the final allocation of resources in Johan Sverdrup, based on the following proposal: Statoil 40.0267%, Lundin Norway 22.12%, Petoro 17.84%, Det norske oljeselskap 11.8933% and Maersk Oil 8.12%. The majority’s proposal for the allocation of resources is valid until the Norwegian Ministry of Petroleum and Energy decides the final allocation. In addition to the PDO the project will also submit two plans for installation and operation for pipeline transportation and the development of power from shore solution.

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