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Fri, May. 23, 11:59 AM
- Spanish media says domestic oil company Repsol (REPYY, REPYF) is poised to make a bid of €2B ($2.7B) for Marathon Oil's (MRO) assets off Norway in a move to optimize its own portfolio.
- Sweden's Lundin (LNDNF, LNDNY) is among a lineup of 10 bidders angling for the MRO's portfolio, with possible participation by Asian players, according to the head of Oslo-based research firm Rystad Energy.
- Analysts say MRO could announce a deal for the assets as soon as mid-June after bids were submitted earlier this month.
Thu, Mar. 27, 9:17 AM
- Lundin Petroleum (LNDNF) and Statoil (STO) have hit oil while drilling test wells at the giant Johan Sverdrup field in the North Sea, an encouraging sign for the evaluation of its contents.
- Lundin found a 54-meter column of which 13 meters were of very good reservoir quality; partner Maersk Oil said the well test was "the best ever."
- STO encountered a 4.5 meter oil column at the edge of the field and will drill a sidetrack well to evaluate the section further.
- Johan Sverdrup may contain up to 2.9B boe which, if confirmed, would make it the third-largest oil discovery made offshore Norway.
Oct. 8, 2013, 2:28 PM
- Norway is hoping for series of Arctic oil discoveries after a well produced crude from a previously unproductive layer of rock, as last month's Gohta find could open as many as 10 possible drilling targets in the surrounding area, Lundin Petroleum (LNDNY.PK, LNDNF.PK) says.
- The new play could revive interest in Norway’s Arctic after Statoil (STO) decided to delay the development of its Johan Castberg twin finds 65 km from Gohta because of rising costs, tax increases and lower resource estimates.
- A joint development of Gohta and Castberg could boost the commercial viability of both projects, Lundin's Norway head says; "It’s not impossible that we would sit down for a talk with Statoil at some point."
Jul. 1, 2013, 8:26 AMSeveral oil companies indicate interest in the resource potential of the southeast Barents Sea off Norway after buying seismic packages from the country’s petroleum agency ahead of a possible licensing round later this year. The list of buyers for the data includes big-hitters Chevron (CVX), Shell (RDS.A, RDS.B) and Total (TOT), as well as smaller players such as Tullow and Lundin. | Comment!
Feb. 11, 2013, 9:29 AMLundin Petroleum shares sink in Stockholm trading after the oil explorer cut resource expectations for the giant Johan Sverdrup discovery off Norway. A Swedbank analyst says the reduced outlook is "clearly negative and undoubtedly below market expectations," adding it also was negative news for Sverdrup partners Statoil (STO) and Maersk Oil. | Comment!
LNDNF vs. ETF Alternatives
Lundin Petroleum has exploration and production assets focused upon two core areas, Norway and South East Asia, as well as assets in France, Netherlands and Russia. Lundin Petroleum maintains an exploration focus seeking to generate shareholder value through exploration success and also has the... More
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