Today, we closed the second quarter and first-half of 2024. Halfway through the year, I am pleased to report that despite the geopolitical uncertainties, Aker has navigated with resilience and strategic focus. The first half of the year was marked by high activity across the Aker portfolio: Aker BP ASA delivered solid production in the first half and increased its production guidance, Cognite continued to accelerate its positive commercial development with annual recurring revenue (ARR) and monthly active users reaching record-highs, and Aker Solutions posted improved financial results for the period. We announced several important transactions and strategic partnerships during the period, demonstrating our more focused approach in creating shareholder value, as previously announced. Some of the main developments in the period included the completion of the refinancing of Solstad and establishment of Solstad Maritime, crystallizing value through the formation of a global carbon capture player in a JV between Aker Carbon Capture and SLB and realizing value through the agreement to sell Philly Shipyard to Hanwha, with expected closing in the fourth quarter. In conclusion, I am pleased with the progress Aker has made in the first half of 2024. We continue to make strides in our ambition of a more focused and concentrated Aker through strong partnerships and continued innovation. We are in a strong position with a robust portfolio ready to adapt to new opportunities and a solid industrial foundation for long-term growth. Below is a short video summery of the Q2 and first-half results. For more details, visit https://lnkd.in/d5tzuNuN #results Aker ASA
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This morning, we presented our second quarter and half-year results. The Net Asset Value of Aker ASA and holding companies was NOK 63.9 billion at the end of the second quarter 2024, after NOK 1.15 billion of dividends paid, compared to NOK 60.4 billion at the end of the first quarter 2024. The first half of 2024 was a dynamic period with high activity across the portfolio as Aker continued to execute on its strategy, streamline the portfolio and deliver value to shareholders. During the first half of 2024, Aker paid a dividend of NOK 15.50 per share based on the 2023 annual accounts. This represented a total dividend distribution of NOK 1.15 billion to Aker’s shareholders. Watch the video below for a quick summary of the second quarter and half-year results. More details and a webcast of today's presentation is available on our website www.akerasa.com. Aker BP ASA, Aker Solutions, Cognite, SLB and Aker Carbon Capture Joint Venture, Philly Shipyard, Inc.
Today, we closed the second quarter and first-half of 2024. Halfway through the year, I am pleased to report that despite the geopolitical uncertainties, Aker has navigated with resilience and strategic focus. The first half of the year was marked by high activity across the Aker portfolio: Aker BP ASA delivered solid production in the first half and increased its production guidance, Cognite continued to accelerate its positive commercial development with annual recurring revenue (ARR) and monthly active users reaching record-highs, and Aker Solutions posted improved financial results for the period. We announced several important transactions and strategic partnerships during the period, demonstrating our more focused approach in creating shareholder value, as previously announced. Some of the main developments in the period included the completion of the refinancing of Solstad and establishment of Solstad Maritime, crystallizing value through the formation of a global carbon capture player in a JV between Aker Carbon Capture and SLB and realizing value through the agreement to sell Philly Shipyard to Hanwha, with expected closing in the fourth quarter. In conclusion, I am pleased with the progress Aker has made in the first half of 2024. We continue to make strides in our ambition of a more focused and concentrated Aker through strong partnerships and continued innovation. We are in a strong position with a robust portfolio ready to adapt to new opportunities and a solid industrial foundation for long-term growth. Below is a short video summery of the Q2 and first-half results. For more details, visit https://lnkd.in/d5tzuNuN #results Aker ASA
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DNB Markets would like to congratulate Yinson Production on the successful placement of a USD 500 million five-year senior secured bond issue. This transaction marks Yinson Production’s debut in the international debt capital markets and represents one of the largest ever unrated bond issues in the Norwegian bond market. The offering generated very strong interest from high quality fixed income investors globally and was substantially oversubscribed. Yinson Production is a leading independent owner and operator of FPSOs, providing critical energy infrastructure to major energy companies. The company’s current fleet includes nine units, of which three are under construction, with a combined revenue backlog of USD 22.5 billion. The company is an industry forerunner in sustainability, championing the Zero Emissions FPSO concept as a part of the goal to reach net zero by 2050. Yinson Production is part of Yinson Group, a diversified energy group listed on Bursa Malaysia. DNB Markets acted as the lead left Bookrunner in connection with the transaction. #investmentbanking
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Our strong Q2 and half-year 2024 financial results reflect strong performance as key milestones advance our long-term growth strategy, enabling a secure and more sustainable energy future #AramcoResults #aramco
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Our strong Q2 and half-year 2024 financial results reflect strong performance as key milestones advance our long-term growth strategy, enabling a secure and more sustainable energy future #AramcoResults #aramco
Our strong Q2 and half-year 2024 financial results reflect strong performance as key milestones advance our long-term growth strategy, enabling a secure and more sustainable energy future...
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Our strong Q2 and half-year 2024 financial results reflect strong performance as key milestones advance our long-term growth strategy, enabling a secure and more sustainable energy future #AramcoResults #aramco
Our strong Q2 and half-year 2024 financial results reflect strong performance as key milestones advance our long-term growth strategy, enabling a secure and more sustainable energy future...
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Our strong Q2 and half-year 2024 financial results reflect strong performance as key milestones advance our long-term growth strategy, enabling a secure and more sustainable energy future #AramcoResults #aramco
Our strong Q2 and half-year 2024 financial results reflect strong performance as key milestones advance our long-term growth strategy, enabling a secure and more sustainable energy future...
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LVC Global Holdings, LLC Announces Strategic Cooperation with HMS Bergbau AG: LVC Global Holdings, LLC, an #Energy, #NaturalResources, and #Infrastructure asset acquisition firm, and HMS Bergbau AG, a global #commoditytrading firm, announce a new strategic cooperation. The cooperation aims to synergize LVC's Global access and #dealorigination expertise, and HMS's longstanding #trading experience in the commodities market. The goal is to create new market opportunities and fortify both companies' positions in the global energy, natural resources, and infrastructure markets. C. Derek Campbell and Lars Schernikau #leadership
LVC Global Holdings LLC Announces Strategic Cooperation with HMS Bergbau AG
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💡 Power Metal Acquisition of 75% Interest in GSA (Environmental) Limited 💡 Power Metal Resources PLC (#POW) announces that the Company has signed binding heads of terms with GSA (Environmental) Ltd ("GSAe") to conditionally acquire 75% of the entire issued share capital of GSAe. Read the full announcement here: https://bit.ly/42TPcbX ⚡️ What does GSAe do? ♦️ GSAe is a privately owned UK-headquartered engineering technology provider and process licensor, which specialises in the extraction of strategic metals from 'secondary sources' including power station ash, refinery waste, titanium dioxide waste and spent catalysts, while also producing much more environmentally friendly residue. ♦️ GSAe aspires to be the first-choice global provider of technological solutions to environmental problems posed by toxic metals in waste products. ⚡️ What is the consideration? ♦️ Power Metal will pay initial consideration of £75,000 through the issue of new ordinary shares, full details of which are set out in the announcement. ♦️ The maximum total consideration for the acquisition is £1 million, payable in cash and/or new ordinary shares in the Company with the maximum payment subject to GSAe achieving a number of performance milestones, including a year three annual profit of at least £1 million. 📢 Sean Wade, CEO of Power Metal Resources, commented: “I am very excited to announce this proposed strategic acquisition for Power Metal. We have ambitious plans for this innovative business and believe that the extraction of strategic metals from waste products fits well with our strategy of seeking exposure to the critical metals needed for the global energy transition. GSAe's proprietary technology has wide application, including in Saudi Arabia, with its plentiful supply of metal-rich power station ash. We believe this acquisition represents a significant step forward in our efforts to become a major operator in the region. Moreover, the Directors believe the acquisition will also create a substantial revenue opportunity for Power Metal shareholders, which if successful, will allow us to fund our activities with less recourse to dilutive equity financing. I look forward to announcing the completion of this transaction in due course.” #acquisition #POWMet #MetalExtraction #SaudiArabia
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Servicing Quants, DeltaOne Desks, Securities Lending, Dealers, Compliance Officers and Traders
Please see this week’s European SI Market Monitor. Let me know if you have any questions. Cadeler A/S – Denmark based offshore wind farm supplier - Following the announcement last week of a share exchange offer ahead of merger with Eneti, short interest has risen to its highest level of 7.36% Shares Outstanding on Loan - Price is currently 34.38 NOK down 3.1% WoW and 2.61% MoM - Short Loan Quantity totals 14.5M, up 36.64% WoW and 71.59% MoM - Public Short quantity is 1M - Active Utilisation is currently 97.36% - HF 7 Day borrow cost at 7.73% #shortinterest #shortselling #securitiesfinance #securitieslending
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Treasury Manager @ Kuwait Energy, CPA, US CMA, Financial Consultant, Oil & Gas, Upstream, Financial Analyst, Banker, Finance Manager, Auditor, Planning & Forecasting, Budgeting, Accounts Payable, Financial Reporting
📢 Vår Energi Announces Sale of Norne Assets to DNO Norge AS 🛢️💼 Exciting news as Vår Energi confirms the sale of its Norne assets to DNO Norge AS for a fixed after-tax consideration of USD 51 million. In a strategic move, DNO Norge AS will also transfer their stake in the Ringhorne East unit to Vår Energi. Key Details: • Vår Energi’s net production from the Norne area fields stood at approximately three thousand barrels of oil equivalent per day in 2023 and the first quarter of 2024. • The net remaining proved plus probable (2P) reserves for the fields were reported at 7 million barrels of oil equivalent by the end of 2023. • The effective date of the agreement is set for January 1, 2024, with DNO Norge AS taking on decommissioning liabilities for the acquired fields. • As part of the deal, Vår Energi will receive DNO Norge AS’s 22.62% stake in the Ringhorne East unit. • The transaction is subject to customary regulatory approvals and is slated to close in the third quarter of 2024. • Vår Energi’s previously announced production guidance for 2024, year-end 2025, and beyond remains unaffected by this transaction. Houlihan Lokey served as the exclusive financial advisor to Vår Energi, while Advokatfirmaet Schjødt acted as the legal advisor for this transaction. Stay tuned for more updates on this significant development in the oil and gas industry! #OilAndGas #VårEnergi #AssetSale #MergersAndAcquisitions #StrategicTransaction #ProductionGuidance #EnergySector #IndustryNews #RegulatoryApprovals #FinancialAdvisory #LegalAdvisor
CFO at Vår Energi - among the largest pure play oil and gas producers on the Norwegian Continental Shelf
Glad to announce the sale of Norne assets to DNO Norge AS for a fixed after-tax consideration of USD 51 million, with DNO Norge AS transferring also to Vår Energi their stake in the Ringhorne East unit. 🎯 Vår Energi’s net production from the Norne area fields was approximately three thousand barrels of oil equivalent per day in 2023 and first quarter 2024. Net remaining proved plus probable (2P) reserves for the fields is 7 million barrels of oil equivalent at year end 2023. The agreement will be effective from 1 January 2024. DNO Norge AS will assume decommissioning liabilities for the acquired fields. As part of the transaction Vår Energi will receive DNO Norge AS’s 22.62% stake in the Ringhorne East unit. The transaction is subject to customary regulatory approvals and is expected to close in the third quarter 2024. The transaction does not impact Vår Energi’s previously announced production guidance for 2024, year-end 2025 and beyond. Houlihan Lokey acted as exclusive financial advisor to Vår Energi on the transaction and Advokatfirmaet Schjødt as legal advisor. #oilandgas #varenergi#assetsale#M&A
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1moFantastic update Øyvind Eriksen !