Aankondiging • Apr 08
DNO Asa Announces Symra Field Start-Up Offshore Norway DNO ASA announced the start-up of the Symra field offshore Norway nine months ahead of schedule. DNO has a 20 percent stake in the field, which is operated by Aker BP ASA (50 percent), with Equinor Energy AS holding the balance. Symra holds estimated gross reserves of 60 million barrels of oil equivalent and is expected to deliver 4,000–5,000 barrels of oil equivalent per day (boepd) net to DNO at plateau. The partnership sees significant additional resource potential that may be realized through further drilling. The development includes four wells tied back via a subsea template to the Aker BP-operated Ivar Aasen platform, in which DNO holds a 12.3 percent interest. The field breaks new ground as the first on the Norwegian Continental Shelf to produce from the Zechstein carbonate reservoir type. In 2024, DNO’s North Sea production averaged 15,200 boepd, rising to 81,100 boepd on a pro-forma basis in 2025, including the full-year contribution from assets acquired during the year. The Company expects its North Sea output to reach 90,000 boepd by 2027 and 100,000 boepd by 2030. With Symra now online, four DNO subsea fields have started production in Norway over the past 12 months, and three more are currently under development. The Company also has four discoveries moving toward final investment decisions in 2026, including a fast-track project to develop its 2025 Kjøttkake discovery (40 %). Aankondiging • Feb 06
DNO ASA Approves Dividend, Payable on or About 25 February 2026 The Board of Directors of DNO ASA has approved a dividend payment of NOK 0.375 per share to be made on or about 25 February 2026 to all shareholders of record as of 16 February 2026. DNO shares will be traded ex-dividend as of 13 February 2026. Aankondiging • Nov 27
DNO ASA, Annual General Meeting, Jun 04, 2026 DNO ASA, Annual General Meeting, Jun 04, 2026. Aankondiging • Nov 07
DNA ASA Proposes Dividend, Payable on or About 24 November 2025 DNO ASA announced that pursuant to the authorization granted at the Annual General Meeting held on 5 June 2025, the Board of Directors has approved a dividend payment of NOK 0.375 per share to be made on or about 24 November 2025 to all shareholders of record as of 14 November 2025. DNO shares will be traded ex-dividend as of 13 November 2025.Date of approval: 5 November 2025. Aankondiging • Sep 24
DNO ASA Announces Chief Financial Officer Changes DNO ASA announced that Birgitte Wendelbo Johansen has been appointed Chief Financial Officer effective 1 November 2025, replacing Haakon Sandborg who is stepping down following 24 years in the role. Ms. Johansen joins DNO from Reach Subsea ASA, an Oslo Børs listed oil services company, where she served as Chief Financial Officer since 2012. Prior to this, she had a successful career in banking, specializing in shipping and energy. Mr. Sandborg joined DNO from corporate finance roles at DNB and the Aker oil services group and is DNO’s longest serving staffer. Mr. Sandborg will remain at the Company in a senior advisory role until the end of the year. Aankondiging • Aug 21
DNO ASA Approves Quarterly Cash Dividend, Payable on or About 8 September 2025 DNO ASA approved quarterly cash dividend payment of NOK 0.375 per share to be made on or about 8 September 2025 to all shareholders of record as of 29 August 2025. DNO shares will be traded ex-dividend as of 28 August 2025. Aankondiging • Jun 12
DNO ASA (OB:DNO) completed the acquisition of Sval Energi Group AS from HitecVision AS (OTCNO:HITV) and others. DNO ASA (OB:DNO) reached agreement to acquire Sval Energi Group AS from HitecVision AS (OTCNO:HITV) and others for an enterprise value of $1.6 billion on March 7, 2025. The cash consideration of $450 million based on an enterprise value of $1.6 billion. The Sval Energi assets are complementary to DNO’s North Sea portfolio and will add scale and diversification to solidify the Company’s position as a leading listed European independent oil and gas company. The acquisition will be financed with existing cash and other debt financing facilities available to DNO. At year end 2024, DNO ASA held USD 900 million in cash and a further USD 100 million liquidity under its reserve-based lending (RBL) facility. Additional funding sources include new bond and RBL debt as well as offtake-based financing. The Company will set in place the optimal capital structure prior to completion. The effective date of the transaction is January 1, 2025, with expected completion mid-year 2025, subject to customary regulatory approvals from the Norwegian Ministry of Energy, the Norwegian Ministry of Finance and competition authorities.
Pareto Securities is acting as financial advisor to DNO and Advokatfirmaet Thommessen as legal counsel. Jefferies acted as financial advisor to Sval Energi and Hitecvision in the transaction.
DNO ASA (OB:DNO) completed the acquisition of Sval Energi Group AS from HitecVision AS (OTCNO:HITV) and others on June 12, 2025. The transaction was financed through the issuance of USD 400 million in hybrid bonds. Aankondiging • Jun 05
DNO ASA Approves Board Appointments DNO ASA at its AGM held on June 05, 2025, approved election of Grethe Kristin Moen and Ferris J. Hussein as board members of the company. Aankondiging • Mar 26
DNO ASA Announces Oil and Gas Discovery in Northern North Sea License Pl1182 S DNO ASA announced an important oil and gas discovery in Northern North Sea license PL1182 S in which the Company holds a 40% operated interest. The discovery was made in Paleocene injectite sandstones of excellent reservoir quality with preliminary estimates of gross recoverable resources in the range of 39 to 75 million barrels of oil equivalent (MMboe), with a mean of 55 MMboe. The Kjottkake exploration well encountered a 41-meter oil column and a 9-meter gas column. A sidetrack drilled vertically 1,350 meters westwards along the reservoir in the Sotra Formation confirmed the presence of the oil column throughout the discovery. Located 27 kilometers northwest of the Troll C platform and 44 kilometers southwest of the Gjoa platform, Kjottkake is DNO's tenth discovery since 2021 in the Troll-Gjoa exploration and development hotspot, following Rover Nord, Kveikje, Ofelia, Rover Sor, Heisenberg, Carmen, Kyrre, Cuvette and Ringand. The Company has also racked up discoveries in other parts of the Norwegian Continental Shelf, including Norma (2023) and Othello (2024), both play-opening finds and both operated by DNO. Partners in license PL1182 S include Aker BP ASA (30%, Concedo AS (15%) and Japex Norge AS (15%). The wells were drilled using the Deepsea Yantai rig. Following its exploration success, the Company has stepped up purchases of producing assets to balance its Norwegian portfolio and help fund coming developments. In early March, DNO announced the transformative acquisition of Sval Energi Group AS, which will increase North Sea 2P reserves from 48 million barrels of oil equivalent (boe) to 189 million boe post-closing and 2C resources from 144 million boe to 246 million boe (pro forma figures as of yearend 2024). The acquisition, which is expected to close by mid-year, will turn the North Sea into the biggest contributor to Company's net production with some 60% of the total, with the balance coming predominantly from two operated fields, Tawke and Peshkabir, in the Kurdistan region of Iraq. Aankondiging • Mar 07
DNO ASA (OB:DNO) reached agreement to acquire Sval Energi Group AS from HitecVision AS (OTCNO:HITV) and others for an enterprise value of $1.6 billion. DNO ASA (OB:DNO) reached agreement to acquire Sval Energi Group AS from HitecVision AS (OTCNO:HITV) and others for an enterprise value of $1.6 billion on March 7, 2025. The cash consideration of $450 million based on an enterprise value of $1.6 billion. The Sval Energi assets are complementary to DNO’s North Sea portfolio and will add scale and diversification to solidify the Company’s position as a leading listed European independent oil and gas company. The acquisition will be financed from existing liquidity including available credit facilities. The Company will set in place the optimal capital structure prior to completion. The effective date of the transaction is January 1, 2025, with expected completion mid-year 2025, subject to customary regulatory approvals from the Norwegian Ministry of Energy, the Norwegian Ministry of Finance and competition authorities.
Pareto Securities is acting as financial advisor to DNO and Advokatfirmaet Thommessen as legal counsel. Aankondiging • Feb 06
DNO ASA Approves Cash Dividend, Payable on or About 21 February 2025 DNO ASA has approved a cash dividend payment of NOK 0.3125 per share to be made on or about 21 February 2025 to all shareholders of record as of 14 February 2025. The shares will be traded ex-dividend as of 13 February 2025. Date of approval: 5 February 2025, based on authorization granted 6 June 2024. Aankondiging • Dec 09
Trym Reboot Boosts North Sea Output DNO ASA announced that its operated Trym field in the Norwegian North Sea license PL147 (DNO 50 %) is back on production after a five-year shutdown during which TotalEnergies redeveloped the Tyra field infrastructure in the Danish North Sea to which Trym is tied back. First commissioned in 2011, Trym is expected to contribute 3,000 barrels of oil equivalent per day (boepd) net to DNO at plateau. Remaining reserves are estimated at two million barrels of oil equivalent (MMboe) net to DNO. Available capacity at the Trym subsea template represents further opportunities. The Company is currently assessing a development of the 2013 Trym Sør discovery containing recoverable resources of around two MMboe net to DNO, possibly adding production from early 2027. In addition, DNO has identified nearby exploration prospects that may be drilled from the Trym subsea template, potentially extending its lifetime. Aankondiging • Nov 07
DNO Asa Approves Dividend, Payable on or About 22 November 2024 DNO ASA has approved a dividend payment of NOK 0.3125 per share to be made on or about 22 November 2024 to all shareholders of record as of 15 November 2024. DNO shares will be traded ex-dividend as of 14 November 2024. Aankondiging • Aug 15
DNO ASA Approves Dividend, Payable on or About 30 August 2024 DNO ASA at the Annual General Meeting held on 6 June 2024, the Board of Directors has approved a dividend payment of NOK 0.3125 per share to be made on or about 30 August 2024 to all shareholders of record as of 23 August 2024. DNO shares will be traded ex-dividend as of 22 August 2024. Aankondiging • Jun 20
DNO ASA Racks Up Discoveries in Its Offshore Norway Core Area DNO ASA announced a gas condensate discovery on the Cuvette prospect in the Norwegian North Sea licenses PL248F and PL248GS in which the Company's wholly-owned subsidiary DNO Norge AS holds a 20% interest. Preliminary evaluation of the discovery indicates gross recoverable resources in the range of 16-38 million barrels of oil equivalent (MMboe) with a mean of 25 MMboe, well above predrill estimates. Just over half of the resources were encountered in the Middle Jurassic primary target, and the balance in the Upper Jurassic secondary target. Cuvette is DNO's eighth discovery in the highly prolific area surrounding the Troll and Gjoa production hubs since 2021. The other discoveries are Rover Nord, Kveikje, Ofelia, Rover Sor, Heisenberg, Carmen and Kyrre, all close to infrastructure and with clear routes towards commercialization. Wintershall Dea Norge AS operates licenses PL248F and PL 248GS as well as the nearby Vega field tied back to Gjoa. Another partner in the licenses, Petoro AS, similarly holds a stake in Vega. One of Vega's three subsea templates, Vega Central, is located only three kilometers to the north of the new discovery well. The partners will consider fast-track production of Middle Jurassic volumes through the Vega Central template. Another option is a joint development with three nearby discoveries made in 2015-2016 (Syrah, Orion, Beaujolais; totaling some 15 MMboe gross), in which DNO also holds a 20% interest. Following the successful appraisal of Heisenberg early in the year, Cuvette was the second well in DNO's 2024 North Sea exploration program. Five wells remain to be drilled, of which four are also in the Troll-Gjoa area. In 2023, the Company was the third most active exploration driller on the Norwegian Continental Shelf in number of wells drilled and ranked second in discovered volumes with an estimated 100 MMboe net to DNO. Having prioritized near-inf infrastructure exploration, DNO has been an early mover in acquiring substantial acreage positions in selected areas which have since become hotspots. Aankondiging • May 09
DNO ASA Approves Dividend, Payable on or About 28 May 2024 DNO ASA announced that pursuant to the authorization granted at the Annual General Meeting held on 25 May 2023, has approved a dividend payment of NOK 0.25 per share to be made on or about 28 May 2024 to all shareholders of record as of 21 May 2024. DNO shares will be traded ex-dividend as of 16 May 2024. Aankondiging • Apr 04
DNO ASA Announces Kurdistan Operations Recover Rapidly from Torrential Flooding DNO ASA announced that production and field operations at its operated Tawke license (DNO 75%) in the Kurdistan region of Iraq have recovered from torrential flooding that also washed away large sections of the banks of the Khabur River, damaging roads and interfering with loading of tanker trucks for deliveries to buyers. The flooding resulted from local downpours combined with snowmelt in neighboring Türkiye in the latter half of March. This led DNO to temporarily shut in its Tawke field for safety reasons while maintaining uninterrupted operations at the less exposed Peshkabir field, also within the Tawke license. Gross license production dropped from above 80,000 barrels per day (bopd) to an average of 65,000 during a 10-day period but was restored to its pre-flooding level on 30 March 2024 as DNO worked to minimize flooding exposure, inspect damage and take remedial actions including installing additional truck loading facilities. Given shortages of heavier crudes in regional markets, DNO negotiated with its customers to nudge Tawke/Peshkabir prices to the mid-USD 30 per barrel level. DNO share of sales continue to be paid directly to the Company in advance of loadings and have averaged in excess of USD 25 million per month in 2024. No DNO employees were hurt though several substantial pieces of equipment weighing tons were washed away and have yet to be located. Notwithstanding major damage in the town of Zakho, neighboring the Tawke field, the 2,000 year-old Roman-era arched bridge, a popular tourist attraction, survived intact. The Company provided relief to the local community by supplying home appliances, including refrigerators, to families most impacted by the flooding. Workovers and other field work at Tawke and Peshkabir have quickly resumed, whilst the Company’s Board of Directors has given the nod to plan for new investments to maintain and then begin to bolster production. Elsewhere in Kurdistan, DNO resumed drilling with the latest well (B-3) at the operated Baeshiqa license (DNO 64%) spud on 21 February 2024. The well has reached 1,850 meters or nearly one-half of the target depth. Aankondiging • Mar 23
DNO ASA Announces Completion of an Appraisal Well and Sidetrack DNO ASA announced completion of an appraisal well and sidetrack that further delineated the 2023 Heisenberg oil and gas discovery in Norwegian North Sea license PL827SB. Heisenberg, a new shallow play in the northern part of the Norwegian North Sea, is now estimated to hold recoverable volumes in the range of 24 to 56 million barrels of oil equivalent (MMboe) (mean of 37 MMboe). Oil-bearing sands were encountered in a deeper secondary target, Hummer. The license partnership, which in addition to DNO Norge AS (49 percent) includes operator Equinor Energy AS, is planning a well in the second quarter of this year to explore an additional deep prospect, Angel, while delineating Heisenberg towards the west. Surrounded by major North Sea hubs Troll B, Kvitebjørn and Gjøa (the first two operated by Equinor), Heisenberg lies within tieback range of these hosts. Studies are underway for fast-track development of Heisenberg in coordination with a string of recent discoveries in this area in which DNO has a significant presence, including in last year’s Carmen discovery (30%). Aankondiging • Feb 08
DNO ASA Approves Dividend, Payable on or About 26 February 2024 DNO ASA announced that pursuant to the authorization granted at the Annual General Meeting held on 25 May 2023, the Board of Directors has approved a dividend payment of NOK 0.25 per share to be made on or about 26 February 2024 to all shareholders of record as of 16 February 2024. DNO shares will be traded ex- dividend as of 15 February 2024. Date of approval: 7 February 2024, based on authorization granted 25 May 2023. Aankondiging • Dec 13
DNO ASA Announces Successful Completion of the Second Appraisal Well on the Bergknapp/re Discovery in License PL836S in the Norwegian Sea DNO ASA announced successful completion of the second appraisal well on the Bergknapp/Åre discoveries in license PL836S in the Norwegian Sea. Recoverable volumes are currently estimated by the operator to range between 50 and 100 million barrels of oil equivalent (MMboe). Bergknapp/Åre are located eight kilometers west of the Wintershall Dea Norge AS operated Maria field, which is tied back to Equinor Energy AS' Kristin platform. Wintershall Dea holds a 40% in license PL836S as operator, with DNO Norge AS and Equinor each holding a 30% interest. DNO will now work expeditiously with the other licensees to fast track development utilizing the existing infrastructure in the area. The Bergknapp light oil discovery in the Garn, Ile and Tilje formations (44-75 MMboe) was made in 2020 and subsequently appraised by re-entering and sidetracking the discovery well in 2021. The sidetrack well also extended into the deeper Åre formation, where additional volumes of light oil, gas and condensate were discovered (6-25 MMboe). DNO's 2023 North Sea exploration and appraisal program has led to four successful exploration discoveries (Rver, Heisenberg, Carmen and Norma), two successful appraisal wells (of which one with a sidetrack that has led to a new discovery in the same license (Ofelia/Kyrre)) and two dry holes. Aankondiging • Dec 12
DNO Announces Successful Ofelia Appraisal and New Kyrre Discovery DNO ASA announced completion of appraisal/side track wells that both confirmed the 2022 Ofelia oil and gas discovery and led to a new gas discovery in the overlying Kyrre formation in license PL929 in the Norwegian North Sea. Combined recoverable volumes are estimated by the operator to range between 27 and 52 million barrels of oil equivalent (MMboe). Ofelia/Kyrre is a candidate for a fast track, low cost development tie-back to the Gja platform located 23 kilometers to the south. Gja is operated by Neptune Energy Norge AS, which is also operator of license PL929 with a 40% interest. Other partners include Wintershall Dea Norge AS (20%), Pandion Energy AS (20 percent), DNO Norge AS (10%) and Aker BP ASA (10%). As one of the acreage holders in the prospective Troll-Gja area, DNO has already participated in six discoveries in this area with combined recoverable resources totaling 100 MMboe net to DNO since 2021. The Company plans to continue its extensive exploration and appraisal activity in Troll-Gja area in 2024. Aankondiging • Nov 10
DNO ASA Approves Dividend, Payable on or About 24 November 2023 DNO ASA announced that pursuant to the authorization granted at the Annual General Meeting held on 25 May 2023, the Board of Directors has approved a dividend payment of NOK 0.25 per share to be made on or about 24 November 2023 to all shareholders of record as of 17 November 2023. DNO shares will be traded ex- dividend as of 16 November 2023. Date of approval: 8 November 2023, based on authorization granted 25 May 2023. Aankondiging • Oct 16
DNO ASA Reopens Production At Tawke PSC DNO ASA announced that production was shutdown following the closure of the Iraq-Türkiye pipeline on 25 March 2023. The Tawke field was reopened on 18 July and production has since ramped up, with the contractor share of crude oil from the field during the quarter sold to local buyers with payments received directly in advance. No crude oil was delivered to the Kurdistan Regional Government for export by pipeline through Türkiye. Aankondiging • Sep 19
DNO Makes Play-Opening Discovery at Norma DNO ASA announced a gas condensate discovery on the Norma prospect in the Norwegian North Sea license PL984 in which the Company holds a 30% operated interest. Preliminary evaluation of the discovery indicates gross recoverable resources in the range of 25-130 million barrels of oil equivalent (MMboe) on a P90-P10 basis, with a mean of 70 MMboe, in a Jurassic reservoir zone with high quality sandstones. Located 20 kilometers northwest of the Balder hub and 30 kilometers south of the Alvheim hub, Norma is situated in an area with extensive infrastructure in the central part of the North Sea, with tie-back options offering potential routes to commercialization. Also within the same license, DNO has identified additional exploration prospects that have been considerably de-risked by the Norma results. Drilled to a vertical depth of 4,800 meters with the Deepsea Yantai drilling rig, Norma is DNO’s first operated high-pressure high-temperature exploration well. At 4,650 meters, the discovery well encountered a 16-meter hydrocarbon column in a 20-meter gross reservoir section in Jurassic sandstones. Several gas condensate samples were collected in the reservoir. In addition, a water sample was acquired. A bypass core of 33.7 meters was secured and an extensive data and sampling program conducted. This discovery is considered a play-opener for the deep turbiditic sands in this area given the exceptionally good reservoir quality encountered. Plans are underway to further delineate the discovery and the upside potential in the license. Before further appraisal drilling, improved seismic imaging and remapping will be undertaken to identify an optimal location for the next well. Even with the additional extensive data collection protocols, the Norma well is expected to be finished 15 days ahead of plan and at a cost eight percent below budget. Plug and abandonment operations have commenced this week. DNO was awarded an interest in PL984 in 2019 through its wholly-owned subsidiary DNO Norge AS. The other partners in the license are Source Energy AS, Equinor Energy AS, Vår Energi ASA (20% each) and Aker BP ASA (10%). Aankondiging • Sep 08
DNO ASA Announces Managing Director Changes DNO ASA announced that Christopher Spencer has been appointed Managing Director of the Company as Bjørn Dale steps down as part of a planned management transition initiated last year. Mr. Spencer has been DNO’s Chief Operating Officer since 2021. Before joining DNO six years ago, he served as chief executive of Rocksource ASA and in various commercial and technical roles at Royal Dutch Shell and BP. He is a Chartered Engineer with the Institution of Chemical Engineers in the United Kingdom.Mr. Dale joined DNO in 2011 as a corporate lawyer prior to his appointments as General Counsel and Managing Director. He will continue to advise the Company on legal and commercial matters for a period of six months following Mr. Spencer’s appointment effective 8 September 2023. Aankondiging • Aug 18
DNO ASA Announces Update on Tawke PSC DNO ASA has issued an update on licence activity. Following a four-month shut-in triggered by the closure of the Iraq-Turkey Pipeline export route, DNO has partially restarted operations at the Tawke field and is currently selling its entitlement share of oil production to local trading companies. DNO restarted partial oil production from the Tawke field to conduct well integrity and reservoir tests but has continued to produce to meet strong demand for Tawke oil. Tawke output is currently averaging around 40,000 bopd, of which one-half is delivered to the Kurdistan Regional Government as its entitlement and the balance is sold to local trading companies. Aankondiging • Aug 17
DNO ASA Approves Dividend Payment, o Be Made on or About 1 September 2023 DNO ASA announced that pursuant to the authorization granted at the Annual General Meeting held on 25 May 2023, the Board of Directors has approved a dividend payment of NOK 0.25 per share to be made on or about 1 September 2023 to all shareholders of record as of 25 August 2023. DNO shares will be traded ex-dividend as of 24 August 2023. Aankondiging • Jul 12
DNO ASA Announces Gas and Condensate Discovery on the Carmen Prospect in the Norwegian North Sea License PL1148 DNO ASA announced a significant gas and condensate discovery on the Carmen prospect in the Norwegian North Sea license PL1148 in which the Company holds a 30% interest. Preliminary evaluation of comprehensive data, including cores and fluid samples, acquired from the discovery well and a follow-on extended sidetrack indicates gross recoverable resources in the range of 120-230 million barrels of oil equivalent (MMboe) on a P90-P10 basis. At 175 MMboe, the mid-point of this range, Carmen ranks as the largest discovery on the Norwegian Continental Shelf since 2013. The two wells have established a deeper hydrocarbon-water contact, tripling the mid-point of DNO's pre-drill expected range. Carmen is DNO's sixth discovery in the Troll-Gjoa area since 2021 and is located close to existing infrastructure with clear routes towards commercialization. The other discoveries are Rover Nord, Kveikje, Ofelia, Rover Sor and Heisenberg. DNO farmed into PL1148 in 2022 through its wholly-owned subsidiary DNO Norge AS. The other partners in the license are Wellesley Petroleum as operator with 50% interest and Equinor Energy AS and Aker BP AS with 10% each. Aankondiging • May 26
DNO ASA Approves Executive Changes DNO ASA at the AGM held on May 25, 2023, announced Najmedin Meshkati was elected as a new Board member. The Board accordingly consists of the following members: Bijan Mossavar-Rahmani (Executive Chairman). Gunnar Hirsti (Deputy Chairman). Elin Karfjell (Board member). Anita Maria Hjerkinn Aarnæs (Board member). Najmedin Meshkati (Board member). In accordance with the Nomination Committee's recommendation, Ferris J. Hussein was elected as a new member of the Nomination Committee in replacement of Lars Arne Takla, with an election period from the Annual General Meeting in 2023 to the Annual General Meeting in 2024. The Nomination Committee accordingly consists of the following members: Bijan Mossavar-Rahmani (Chairman). Kåre A. Tjønneland (member). Ferris J. Hussein (member). Aankondiging • May 11
DNO ASA Approves Cash Dividend, Payable on or about June 2, 2023 DNO ASA announced that pursuant to the authorization granted at the Annual General Meeting held on 25 May 2022, the Board of Directors has approved a cash dividend payment of NOK 0.25 per share to be made on or about 2 June 2023 to all shareholders of record as of 25 May 2023. DNO shares will be traded ex-dividend as of 24 May 2023.