Dragon Oil

Markets

ENOC clears final hurdle for Dragon Oil

A takeover bid by the Emirates National Oil Company (ENOC) for Dragon Oil has almost been completed. The company said its shares will be delisted from both the Dublin and London traded exchanges next month.

Markets

Dragon Oil profits drop by more than half

Dragon Oil’s revenue fell by 18% in the second quarter of the year compared with the same time in 2014 as the company felt the knock-on effect of a lower oil price . The company said the figures changed from $547million to $449million in 2015. Meanwhile profits also dropped by 52% from $289million to $139million.

Oil & Gas

Dragon Oil breathes new life into assets

Dragon Oil, the Central Asia focused exploration company, set a new production record last month, exceeding daily output in excess of 100,000 barrels for the first time. The company said it plans to sustain the 100,000 bopd average gross production for a minimum of five years from 2016.

Markets

Dragon Oil gets buyout approach from Emirates National Oil

Dragon Oil Plc, a Dubai-based explorer active in Turkmenistan, said its largest investor has made an offer to buy the shares it doesn’t already own. Emirates National Oil Co., owner of 53% of Dragon, has offered to buy the remaining shares “for a premium” to its 509.5 pence closing price on March 13, the state-owned refining company said in a statement.