Last 0.17 NOK
Change Today 0.00 / 0.00%
Volume 2.0M
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As of 6:06 AM 07/31/14 All times are local (Market data is delayed by at least 15 minutes).

norwegian energy co asa (NOR) Snapshot

0.17 NOK
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0.17 NOK
Day High
0.17 NOK
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0.16 NOK
52 Week High
08/9/13 - 1.16 NOK
52 Week Low
01/10/14 - 0.13 NOK
Market Cap
Average Volume 10 Days
-0.86 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 in the North Sea region. It has a portfolio of 48 exploration and production licenses in Norway, Denmark, and the United Kingdom. The company was founded in 2005 and is headquartered in Stavanger, Norway.

52 Employees
Last Reported Date: 05/20/14
Founded in 2005

norwegian energy co asa (NOR) Top Compensated Officers

Chief Executive Officer
Total Annual Compensation: 2.0M NOK
Chief Financial Officer
Total Annual Compensation: 2.3M NOK
Deputy Chief Financial Officer
Total Annual Compensation: 1.6M NOK
Vice President of Exploration
Total Annual Compensation: 2.2M NOK
Vice President of Commercial
Total Annual Compensation: 1.9M NOK
Compensation as of Fiscal Year 2013.

norwegian energy co asa (NOR) Key Developments

Norwegian Energy Company AS Provides Update on First Appraisal Well in the Gohta Oil Discovery

Norwegian Energy Company AS announced first appraisal well in the Gohta oil discovery is nearing completion. The well confirmed presence of oil and gas as expected and two production tests were undertaken. The test of the gas zone was positive, whereas the results from the oil zone are non -conclusive. Further evaluation of the discovery is underway and a new appraisal well could be scheduled for 2015. The appraisal well 7120/1-4S was drilled from the rig Island Innovator in 332 meters of water depth in the Gohta structure in the Barents Sea, 5.3 kilometers north-west from the discovery well 7120/1-3 which was drilled in 2013. According to previous estimates the contingent resources in the discovery could be 111-232 million barrels of oil equivalents. Based on current assessments the appraisal well will not result in any changes to this estimate. The appraisal well was drilled to a total depth of 2,490 meters below the sea surface. As expected a reservoir was encountered with gas above oil in Permian carbonates. The reservoir is in younger rocks than that in the discovery well. Data from the appraisal well indicates that there is contact between the two wells and that the gas/oil and oil/water contact are at the same level across the entire structure. The quality of the gas reservoir is good but the oil zone appears to be of lesser quality than that in the discovery well. Two production tests were performed to further assess reservoir quality and permeability. It was not possible to isolate gas from the flow in the oil zone, and the information from this section is therefore not clear. The test in the gas condensate zone was positive with production rates corresponding to 700,000 Sm3 gas per day.

Norwegian Energy Company Announces Production Results for the Month of June and Second Quarter 2014

Norwegian Energy Company announced production results for the month of June and second quarter 2014. For the month, the company produced 7,350 barrels of oil equivalents per day (boepd) on average. For the second quarter 2014, production was 5,763 boepd at an average net realized price of USD 101.5 per boe (USD 110.8 per barrel of oil).

Norwegian Energy Company ASA Appoints Tommy Sundt as Chief Financial Officer

Norwegian Energy Company ASA (Noreco) has appointed Tommy Sundt as Chief Financial Officer (CFO). He will join the company on 2 September 2014. Until recently and for ten years Mr. Sundt was CFO in Rocksource ASA. Mr. Sundt has previously held positions in companies dealing with business development, entrepreneurial activities and investments. Early in his career he was an auditor.


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