Okea Eyes Listing by Mid-2019

Tuesday, May 7, 2019

Norwegian oil company Okea AS said on Tuesday it was planning an initial public offering by mid-2019, in a bid to raise funds to finance further expansions.

The company, which is partly owned by Thailand's Bangchak Corporation and private equity firm Seacrest Capital, had previously said the IPO was expected some time in 2019.

The company produced around 19,500 barrels of oil equivalents per day (boed) in the first quarter of 2019, compared with just 369 boed in the year-ago period, boosted by an acquisition, it said in a statement on Tuesday.

Okea was co-founded by former Norwegian Oil Minister Ola Borten Moe in 2015 and last year it bought stakes in two Norwegian fields from Shell. 


(Reporting by Terje Solsvik; Editing by Rashmi Aich)

Categories: Finance Industry News Europe Oil

Related Stories

India’s ONGC to Allocate Half of New Oil Storage to Strategic Reserves

Subsea7 Lands ‘Sizeable’ Contract for Work Offshore Brunei

Saipem Cuts Earnings Outlook as Middle East Costs Rise

Oil Rises on Dual Shipping Threat in Hormuz and Red Sea

ADNOC Approves $6.2B Offshore Umm Shaif Gas Project

Velesto Frees Up Drilling Rig After Early Contract Termination off Indonesia

Jadestone Energy Lifts Malaysia Production with Second Online Well

Hormuz Crossings Decline as US Renews Iran Blockade

Oil Rises 2% as Middle East Hostilities Escalate

EnQuest to Buy Malaysia Offshore Interests in $833M Deal

Current News

India’s ONGC to Allocate Half of New Oil Storage to Strategic Reserves

Subsea7 Lands ‘Sizeable’ Contract for Work Offshore Brunei

FPSO for Azule Energy’s Angola Offshore Field Starts Taking Shape in China

Borr Drilling's Mexican JV Expands Fleet with Five Jack-Ups

Keppel Launches $2.9B Program to Monetize Legacy Offshore Drilling Rigs

Saipem Cuts Earnings Outlook as Middle East Costs Rise

Serica Energy Agrees $194M Pharos Energy Acquisition

Oil Eases After Topping $100, Still Set for Weekly Rise

BP Moves Indonesia CCUS Project Into Offshore Installation Phase

Eni-Petronas JV Starts Indonesia-Bound FPSO Construction

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com