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Last 31.30 NOK
Change Today 0.00 / 0.00%
Volume 5.5K
NOR On Other Exchanges
As of 10:25 AM 07/3/15 All times are local (Market data is delayed by at least 15 minutes).

norwegian energy co asa (NOR) Snapshot

32.00 NOK
Previous Close
31.30 NOK
Day High
32.00 NOK
Day Low
30.60 NOK
52 Week High
07/17/14 - 1,900 NOK
52 Week Low
05/15/15 - 30.30 NOK
Market Cap
Average Volume 10 Days
-4,810.99 NOK
Shares Outstanding
Dividend Yield
Current Stock Chart for NORWEGIAN ENERGY CO ASA (NOR)

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norwegian energy co asa (NOR) Details

Norwegian Energy Company ASA, an independent oil and gas company, focuses on the exploration, development, and production of hydrocarbon resources in the North Sea region. It holds interests in a portfolio of exploration licences and producing fields in Norway, Denmark, and the United Kingdom. The company was founded in 2005 and is headquartered in Stavanger, Norway.

42 Employees
Last Reported Date: 05/31/15
Founded in 2005

norwegian energy co asa (NOR) Top Compensated Officers

Chief Executive Officer
Total Annual Compensation: 913.0K NOK
Chief Financial Officer
Total Annual Compensation: 1.4M NOK
Vice President of Exploration & Operations
Total Annual Compensation: 2.7M NOK
Vice President of Commercial
Total Annual Compensation: 2.3M NOK
Compensation as of Fiscal Year 2014.

norwegian energy co asa (NOR) Key Developments

Norwegian Energy Company AS Terminates its Joint Venture

Norwegian Energy Company ASA announced that it has reached an agreement with its joint venture partners in Denmark with respect to its forfeited licences and related abandonment liabilities. The company has terminated its joint venture and its participation in the Nini and Cecile oilfields. According to provisions in the respective joint operating agreements, the company has forfeited and transferred its participating interests in the Licences to the Partners on a pro-rata basis. In addition, the settlement for claims on defaulted cash calls and capping of the abandonment liability includes a cash consideration of NOK 60 million, and an 18.2% working interest in the Lulita field. The restricted cash set aside for future abandonment liabilities will remain in escrow with and on the company's balance sheet. According to the agreement, the company will not be held liable for abandonment costs beyond the restricted cash. Final closing of the agreement is subject to approval by the Danish Energy Agency. The agreement in Denmark leaves the company with full ownership of the significant Siri insurance claim, a 10% working interest in the producing Lulita field, and very limited financial obligations in Denmark.

Norwegian Energy Company Announces Resignation of Lotte Kiorboe as Board of Director

Employee representative Lotte Kiorboe has stepped down from the Board of Norwegian Energy Company ASA, following approval by the Norwegian Corporate Democracy Board of the company's application for termination of employee board representation at the parent company level.

Norwegian Energy Company AS Announces Drilling Update on Niobe Exploration Well

Norwegian Energy Company AS announced that the Niobe exploration well has been drilled to target depth without encountering hydrocarbons. The well will now be plugged and abandoned. Spudded on 8 June 2015 the well was drilled by the jackup drilling unit Ensco 100 in the P1889 licence, close to the Beatrice oil field in the Outer Moray Firth area off the north east coast of Scotland. Norwegian Energy Company (UK) Ltd, a subsidiary of Norwegian Energy Company ASA, is partner in the licence with a current equity interest of 22.5%.


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