DNO making job cuts ‘in all locations’
DNO, the Oslo-listed exploration firm which took over Aberdeen's Faroe Petroleum, has announced it is reducing staff “in all locations” in response to Covid-19 outbreak and oil price crash.
Faroe Petroleum
‘Positive momentum’ for oil and gas deals in 2020 – AAB
It was an interesting year for deal-making in 2019, despite political and economic challenges.
DNO takes £112million hit on newly-bought North Sea fields
DNO, which took over Aberdeen-based Faroe Petroleum last year, has taken £112million of impairments costs related to its newly-acquired fields in the North Sea.
North Sea newcomer Longboat Energy eyeing ‘a number’ of acquisition targets
A new North Sea firm, created by the former bosses of Faroe Petroleum, has announced it is evaluating "a number" of potential acquisition targets.
Faroe deal boosts DNO production
DNO’s hostile takeover of Faroe Petroleum a year ago boosted the Norwegian oil firm’s North Sea production by 17,400 barrels per day (bpd) in 2019.
Longboat shares admitted to trading in London
Shares in Longboat Energy were admitted to the alternative investment market of the London Stock Exchange today.
New North Sea firm Longboat ‘successfully’ raises £10m war chest
A new North Sea exportation and production (E&P) firm created by the former boss of Faroe Petroleum has announced its "success" in raising a £10 million war chest.
DNO North Sea increases ‘firepower’ for growth with boost to borrowing capacity
DNO North Sea, the Norwegian firm which took over Faroe Petroleum, said it now has more “firepower” to grow with a boost to its lending facilities.
‘Unfinished business’ brings North Sea oil boss back to the basin
North Sea oil and gas veteran Graham Stewart said yesterday a sense of “unfinished business” spurred his decision to launch a new, acquisition-hungry player.
Former Faroe chief launches new North Sea oil firm, plans to raise £10m
A North Sea oil and gas executive who led Faroe Petroleum before the Aberdeen-based firm fell to a hostile takeover has set up a new company.
Updated: Potential first for UK in plans to reuse offshore platforms for wind farms
Plans have been submitted which could see a first for the UK North Sea for oil platforms being converted to support offshore wind farms.
Faroe returned to black in final year before hostile takeover
Faroe Petroleum returned to the black in its final full year before falling year of a hostile takeover by Oslo-based DNO.
Faroe Petroleum changes name after DNO takeover
Aberdeen-headquartered Faroe Petroleum has changed its name following a takeover by Norwegian operator DNO.
Spirit starts production at Oda five months ahead of schedule
Spirit Energy has kicked off production from its Oda field in the Norwegian North Sea, delivered five months ahead of schedule.
DNO ready for compulsory purchase of remaining Faroe shares
Norwegian oil and gas operator DNO said today that it can initiate the compulsory acquisition of the remaining shares in Faroe Petroleum.
Faroe to hand Edinburgh prospect baton over to Shell
Energy giant Shell has been lined up to take over as operator of one of the central North Sea’s largest undeveloped prospects.
Updated: Faroe CEO to pocket £12.5m, DNO takeover offer now unconditional
Faroe Petroleum’s chief executive will pocket £12.5million as he leaves the company following a hostile takeover by Norwegian oil operator DNO.
Updated: Faroe Petroleum concedes defeat in takeover battle with DNO
Faroe Petroleum's board has conceded defeat in its fight against a takeover bid by Norwegian oil explorer DNO.
DNO makes ‘final offer’ to take over Faroe Petroleum
Norwegian oil explorer DNO has increased its offer to acquire Aberdeen-based Faroe Petroleum, as its pursuit of the North Sea firm continues.
Updated: DNO not accepting defeat in Faroe takeover bid
Bosses at DNO have warned they will “not go away” after falling short with their hostile takeover offer for Aberdeen-headquartered oil firm Faroe Petroleum.
Latest: Faroe lambasts DNO for ‘puzzling attacks’ on exploration record
Bosses at Faroe Petroleum have condemned DNO for repeatedly attacking its exploration track record.
DNO extends Faroe takeover offer after missing target
Norwegian firm DNO has given Faroe Petroleum shareholders another two weeks to accept its takeover offer after falling short of its target.
Faroe’s defences ‘exhausted’ after exploration failure, DNO says
Bosses at DNO have picked apart a report indicating its takeover bid for Faroe Petroleum was too low.
Independent valuation shows DNO offer ‘inadequate’, Faroe says
Faroe Petroleum said today that a fresh evaluation of its portfolio highlighted the "inadequacy" of DNO's takeover bid for the firm.
More exploration well disappointment for Faroe, but sidetrack shows promise
Faroe Petroleum revealed today that its Brasse East exploration well in the Norwegian North Sea had not hit oil.