AKER BP ASA ORD - AKRBF STOCK NEWS

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Aker BP ASA (symbol: AKRBF) is a prominent Norwegian oil exploration and production company, recognized for its high operational efficiency and leadership in low greenhouse gas emissions. The company is headquartered in Lysaker, Norway, and operates on the Norwegian continental shelf. Aker BP boasts a diverse portfolio of oil and gas assets, including the Alvheim, Valhall, and Johan Sverdrup fields.

Core Business and Operations:

Aker BP's core operations involve the exploration, development, and production of oil and gas. In the third quarter of 2023, the company achieved a production rate of 450 thousand barrels of oil equivalent per day (mboepd) and expects full-year production of 455-465 mboepd. The company has maintained production costs at a low USD 6.0 per barrel of oil equivalent (boe), demonstrating its cost efficiency.

Recent Achievements and Projects:

The company's recent achievements include the commencement of production from the Kobra East & Gekko fields at Alvheim, five months ahead of schedule. Aker BP also reported two new oil and gas discoveries in the third quarter of 2023. The company's field development projects are progressing as planned, with fabrication activities underway at multiple locations.

Financial Performance:

Aker BP demonstrated strong financial performance with an operating profit of USD 2,618 million and a net profit of USD 588 million in Q3 2023. Free cash flow for the quarter was USD 1,157 million. The company's robust financial health supports its strategic focus on efficiency and disciplined capital allocation, allowing for consistent returns to shareholders through dividends.

Environmental Commitment:

Aker BP is an industry leader in low greenhouse gas emissions, achieving an average of 2.8 kg CO2e per boe. The company's commitment to sustainability and environmental stewardship is evident in its operational practices and project developments.

Partnerships and Strategic Moves:

In early 2024, Aker BP was awarded ownership interest in 27 exploration licenses on the Norwegian continental shelf, further solidifying its position as a leading independent exploration company. The company's strategy focuses on balancing exploration near existing infrastructure and independent developments, particularly targeting gas to support Europe's energy supply.

For detailed updates and comprehensive insights into Aker BP's performance, projects, and strategic initiatives, visit the company's official website or follow their latest press releases.

03/20/2024 02:18 AM

News

Aker BP releases 2023 Annual Report

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Aker BP (AKRBF) releases its integrated annual report for 2023, including financial, sustainability, and remuneration reporting. The company also discloses its annual statement of reserves for 2023. The reports are available on the company's website and cover key investor and media contacts.

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02/08/2024 12:31 AM

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Aker BP - Fourth quarter 2023 results

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Aker BP delivered strong operational performance in the fourth quarter of 2023, with low cost and high efficiency, although production volumes were impacted by an unplanned shutdown at Alvheim. The company maintained low emissions intensity at an industry-leading level. Oil and gas production reached 444 mboepd in the fourth quarter and 457 mboepd for the full year 2023. Production cost amounted to USD 6.2 per barrel produced. Greenhouse gas emissions averaged 2.8 kg CO2e per boe, both for the quarter and the full year, ranking among the lowest in the global oil & gas industry. Aker BP's EBITDA was USD 3,174 million, operating profit USD 2,154 million, net profit USD 164 million, and free cash flow USD 461 million. Dividend per share increased to USD 2.4 for 2024, equivalent to USD 0.60 per quarter. Guidance for 2024 includes a production range of 410-440 mboepd, capex of around USD 5 billion, exploration spend of around USD 500 million, abandonment spend of around USD 250 million, and production cost of around USD 7 per boe.

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01/16/2024 09:49 AM

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Aker BP awarded 27 licenses in APA 2023

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Aker BP has been awarded ownership interest in 27 exploration licenses on the Norwegian continental shelf in the APA 2023 licensing round, with 17 of the licenses also granting operatorship. The company aims to maintain its ambitious exploration strategy and balance its portfolio between wells close to existing infrastructure and independent developments. The Norwegian authorities offered exploration acreage in all areas of the Norwegian continental shelf, emphasizing the importance of producing gas to secure the energy supply to Europe. The award reflects Aker BP's comprehensive application and consolidates its position as the most active independent exploration company on the NCS.

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01/15/2024 02:05 AM

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Aker BP fourth quarter 2023 trading update

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Aker BP (AKRBF) announces preliminary production and sales figures for Q4 2023, with equity production at 444.3 mboepd and net volume sold at 466.9 mboepd. Full-year 2023 production was 456.8 mboepd. Realized prices for liquids and natural gas were also provided. A strategy update is scheduled for February 8, 2024.

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12/18/2023 02:14 AM

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Alvheim production restored after unplanned downtime

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Aker BP (AKERBP) experienced unplanned downtime at the Alvheim field due to technical issues, causing a deferral of approximately one month in production. Despite the setback, production forecast for 2023 remains within the updated guidance range of 455-465 mboepd, albeit at the lower end.

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11/01/2023 02:38 AM

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Aker BP: Ex dividend USD 0.55 today

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Aker BP ASA shares will be traded ex dividend USD 0.55 (NOK 6.18822) per share starting from November 1, 2023. The payment date is yet to be announced.

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10/27/2023 01:37 AM

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Aker BP: Key information related to cash dividend

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Aker BP announces cash dividends for Q4 2023

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10/27/2023 12:27 AM

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Aker BP reports third quarter 2023 results

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Aker BP reports strong Q3 2023 results with high operational efficiency, increased oil prices, and low emissions. Production on track, cost efficiency improved, and two new discoveries made. Strong financial performance with operating profit of USD 2,618 million and net profit of USD 588 million. Quarterly dividend of USD 0.55 per share. CEO highlights commitment to efficiency and disciplined capital allocation.

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10/26/2023 03:11 AM

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Kobra East & Gekko (KEG) on stream ahead of plan

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Aker BP announces the start of production from Kobra East & Gekko (KEG) in the Alvheim area. The project was completed several months earlier than estimated and under the original budget. The KEG development will significantly reduce CO2 emissions per barrel and increase oil production from the Alvheim FPSO. The project adds important volumes to the existing production capacity and enables extended lifetime up to 2040.

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10/05/2023 01:15 AM

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Aker BP third quarter 2023 trading update

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Aker BP announces preliminary production and sales figures for Q3 2023.

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FAQ

What is the current stock price of AKER BP ASA ORD (AKRBF)?

The current stock price of AKER BP ASA ORD (AKRBF) is $21.25 as of October 30, 2024.

What is the market cap of AKER BP ASA ORD (AKRBF)?

The market cap of AKER BP ASA ORD (AKRBF) is approximately 13.5B.

What does Aker BP ASA do?

Aker BP ASA is an oil exploration and production company operating primarily on the Norwegian continental shelf, focusing on the development and production of oil and gas.

Where is Aker BP ASA headquartered?

Aker BP ASA is headquartered in Lysaker, Norway.

What are some of Aker BP's recent achievements?

Recent achievements include the early commencement of production from the Kobra East & Gekko fields and two new oil and gas discoveries in Q3 2023.

How did Aker BP perform financially in Q3 2023?

Aker BP reported an operating profit of USD 2,618 million, a net profit of USD 588 million, and free cash flow of USD 1,157 million in Q3 2023.

What is Aker BP's stance on environmental sustainability?

Aker BP is a leader in low greenhouse gas emissions in the oil and gas industry, achieving an average of 2.8 kg CO2e per boe.

What are Aker BP's production costs?

Aker BP's production cost was USD 6.0 per barrel of oil equivalent (boe) in Q3 2023.

What new licenses has Aker BP been awarded recently?

In early 2024, Aker BP was awarded ownership interest in 27 exploration licenses on the Norwegian continental shelf.

How can I stay updated on Aker BP's latest news?

For the latest updates, visit Aker BP's official website or follow their press releases and news announcements.

What is Aker BP's dividend policy?

Aker BP has a policy of returning value to shareholders, with a quarterly dividend of USD 0.55 per share as of Q3 2023.

What are Aker BP's strategic priorities?

Aker BP focuses on high operational efficiency, cost discipline, low emissions, and maintaining a balance between exploration near existing infrastructure and independent developments.