Recently published news
Spring Energy announces major asset package sale
08.09.2010
Spring Energy has today announced the sale of 15% in PL 378 (containing the Grosbeak discovery), 20% in PL 375 (containing the Beta discovery) and 20% in PL 551 to Talisman Energy Norge AS for an amount between USD 114.5 million and USD 129.5 million pending certain near term milestones.
24.08.2010
AT Group (ATG) created from four Energy & Industry supplier Groups.
HitecVision Strengthens its Exploration and Production Team
20.08.2010
HitecVision is pleased to announce the strengthening of the company’s focus on E&P, through the addition to the team of Harald Vabø and Svein Arild Killingland. Both have significant experience from the Norwegian Oil and Gas industry, and will complement HitecVision’s existing investment team.
HitecVision reports half year 2010 results
19.08.2010
HitecVision's report for the first six months of 2010 is now available for download.
Spring Energy: Discovery on Maria prospect
22.07.2010
Spring Energy announces further exploration success in the recently completed exploration well (6406/3-8T2) on the Maria prospect in PL 475BS, 15 km East of the Åsgard Field and 5 km Northeast of the Trestakk discovery.
HitecVision acquires Tampnet from Statoil
06.07.2010
Statoil and HitecVision have signed an agreement under which HitecVision will acquire Statoil’s subsidiary Tampnet AS.
Reef Subsea names Mark Preece as new CEO
02.07.2010
Reef Subsea has appointed Mark Preece as Chief Executive Officer with effect from 1 July 2010.
Altra is awarded $1.5m UK contracts
01.07.2010
Aberdeen-based Altra Energy, a company in the STG Group, has been awarded brownfield contracts worth a total of £1 million ($1.5 million) in the UK North Sea.
Apply Sørco wins frame agreement for Kvitebjørn and Brage
30.06.2010
Apply Sørco has received a letter of intent from Statoil for the Maintenance & Modification frame agreement for the Kvitebjørn and Brage platforms in the North Sea.
Apply Capnor and Grenland AsIs Global merge
24.06.2010
Apply Capnor has today agreed with Grenland Group to buy Grenland AsIs Global (ASIS). Apply Capnor and ASIS are frontrunners within the laserscanning technology and they are today the leading independant suppliers for this segment in Norway.
Comeback for Apply Leirvik Emtunga in South-East Asia
22.06.2010
Apply Leirvik Emtunga AB has been awarded a contract for the Engineering, Procurement, Construction and Commissioning of a replacement Living Quarter by Brunei Shell Petroleum Sendirian Berhad.
Spring Energy increases exploration loan facility
22.06.2010
Spring Energy has successfully amended its exploration loan facility with its banking group that comprises Merchant Banking, Skandinaviska Enskilda Banken AB, DnB NOR and BNP Paribas.
Spring Energy optimizes portfolio
14.06.2010
Spring Energy has agreed to sell its 10 % working interest in the PL 341 license to GDF SUEZ E&P Norge AS.
Bjørge to acquire Sontum Fire and Safety AS
11.06.2010
Bjørge FPE AS, a subsidiary of Bjørge ASA, have today signed an agreement with the owner of Sontum Fire & Safety AS, Valco Group AS, for the acquisition of Sontum Fire & Safety AS.
Grenland Group ASA has been awarded a contract from Statoil
11.06.2010
Grenland Group has been awarded a contract from Statoil for modification of the
Water Injection Plant on the Gullfaks B platform. The water Injection plant is
pumping sea water into the oil reservoir, for maintenance of the well pressure
and production capacity.
HitecVision announces new USD 420 million Fund
02.06.2010
HitecVision, Europe’s largest private equity investor focusing exclusively on the oil and gas industry, announced today that it has accepted commitments of USD 420 million for its new fund, HitecVision Asset Solutions, exceeding the original USD 320 million target. The new Fund will invest in companies in the asset-based side of the international offshore oil and gas service industry, typically owners and operators of such assets as drilling rigs, supply vessels, subsea construction vessels, etc.
Apply Leirvik's Living Quarters installed on Troll A platform
12.05.2010
On the 7th May, a new living quarters module was successfully installed on Statoil's Troll A platform. The living quarters were built by Apply Leirvik.
Spring Energy continues to build value through the acquisition of assets from Wintershall
05.05.2010
As part of its strategy of building a balanced portfolio of assets on the Norwegian Continental Shelf, Spring Energy has agreed to acquire assets from Wintershall Norge ASA (WINO).
Axon Energy Products closes two acquisitions, establishes Pressure Products Group
10.03.2010
Axon Energy Products have closed two acquisitions in the Houston area in recent weeks. With Church Energy Services, Axon has added a product line in blowout preventers which complements the product lines of Drilling Controls Inc., resulting in the formation of Axon Pressure Products Inc. (APP). The acquisition of the assets of the pump manufacturer Demay International adds both a new product line and a modern facility well suited for manufacturing oilfield equipment.
05.03.2010
As of 8th March 2010, HitecVision's Oslo office will be located at Dronning Mauds Gate 11, 0250 Oslo. Our telephone number remains the same.
Another good year for HitecVision: 2009 results announced
03.03.2010
HitecVision AS has had another active year. The company's 2008 revenues were NOK 188 million, and net income after taxes, before minorities' shares of income was NOK 106 million. Net income after tax and minority shares was NOK 81 million. The Board proposes a dividend of NOK 70 million, corresponding to NOK 3.80 per share.
Apply Steelcad AS sold to Havyard
23.02.2010
Apply Group, through its subsidiary Apply Sørco AS, has sold Apply Steelcad AS to Havyard Design AS, a company in the Havyard Group. Apply Steelcad AS has 27 employees in Norway and shareholdings in engineering companies in Poland and Croatia.
Tor Espedal joins HitecVision as Senior Partner
22.02.2010
HitecVision is pleased to announce the strengthening of its specialist oil and gas investment team. Tor Espedal brings more than 22 years of international oil and gas experience to HitecVision. Espedal comes from the position as Vice President of Subsea7’s activities on the Norwegian Continental Shelf.
HitecVision closes investment in Reef Subsea
01.02.2010
HitecVision and GC Rieber Shipping ASA have established the jointly owned company Reef Subsea AS, in accordance with the joint announcement on the 22nd October 2009. Reef Subsea has received a NOK 195 million investment from its owners. In addition, GC Rieber Shipping have transferred its existing investments in the geotechnical company Bluestone Offshore Pte Ltd and the subsea services company Technocean AS, (including its subsidiary Scan Mudring).
Spring Energy awarded NCS Business Developer of the Year 2009
01.02.2010
On 28 January Spring Energy was awarded the Norwegian Continental Shelf Business Developer of the Year by Rystad Energy at the Gullkronen award seremony in Oslo
Spring Energy: Successful award in APA 2009
20.01.2010
As announced by the Norwegian Ministry of Petroleum and Energy on 19 January 2010, Spring Energy has been awarded 4 licenses in the APA 2009. One of the awarded licenses has a firm well commitment.
Following this, Spring Energy now holds a total of 24 licenses on the NCS.
For more information abouth the award, follow this link to NPD.
Spring Energy: Further exploration success
11.01.2010
Spring Energy announces further exploration success in the Company's third exploration well recently completed on the Beta prospect in PL 375 (34/4-11), located 15 km Northwest of the Snorre Field.
HitecVision closes investment in Grenland Group
08.12.2009
On the 8th of December 2009, HVS Invest AS, which is jointly owned by HitecVision and Skogen Investering AS, completed its voluntary offer for the acquisition of shares in Grenland Group ASA (Oslo Stock Exchange - GGG). HVS Invest now controls 75,2% of the outstanding shares of the company.
18.11.2009
Spring Energy and Wintershall Norge ASA have agreed to a transaction
HitecVision closes investment in Bjørge
10.11.2009
HitecVision and Aker Capital Fund acquires control over Bjørge ASA by completing the voluntary offer, and announces that it will make a mandatory offer and elect a new board of directors
HitecVision and GC Rieber Shipping agree to form new subsea services company
22.10.2009
GC Rieber Shipping and HitecVision have today entered into a 50/50 joint venture agreement in order to create a new subsea services company. The basis for the joint venture is GC Rieber Shipping’s investments in the geotechnical company Bluestone Offshore Pte Ltd and the subsea services company Technocean AS, including its subsidiary Scan Mudring.
Nemo Engineering breaks surface “down-under”
14.10.2009
Nemo Engineering of Norway has established an immediate presence in the burgeoning
subsea oil and gas market in Australia with its purchase of local specialised services
provider Land & Marine Technology Systems (LMTS) based in Perth, Western Australia
HitecVision and Skogen Investering announce bid for Grenland Group
12.10.2009
Skogen Investering and HitecVision together want to strengthen and further develop the oil service company Grenland Group ASA (“GGG”) through a joint ownership company, HVS Invest AS, which aims to acquire 100 per cent of the shares in Grenland Group
HitecVision, Aker Capital and Camar announce bid for Bjørge
28.09.2009
Stavanger/Oslo, 28th September 2009:
HitecVision, Aker Capital Fund and Camar together want to strengthen and further develop the technology company Bjørge ASA. This will take place in the form of a joint ownership company, Bokn Invest AS, which aims to take over 100 per cent of the shares in Bjørge. Bokn Invest is today announcing a voluntary cash offer to the shareholders in Bjørge to buy all shares in the company for NOK 11 per share.
Good results and continued growth for HitecVision in the first six months of 2009
27.08.2009
Stavanger, 27st August 2009: HitecVision continues its growth, both in revenues and profits. Revenues for the first six months of 2008 were NOK 123.5 million, against 88.2 million for the corresponding period in 2008. Net income after tax and minority interests was NOK 60.8 million, against NOK 40.8 million for the first six months of 2008. Total commited capital in funds advised by HitecVision was NOK 7.8 billion.
Spring Energy: Successful Bream delineation wells
26.08.2009
Drilling of delineation well 17/12-4 and two horizontal sidetracks; 4A and 4B on the Bream oil discovery have been successfully completed.
14.08.2009
Technor Group has, as a part of a long term strategic plan, sold its subsidiary Technor ISIS Ltd.
Spring Energy: Oil and gas discoveries in first exploration well on PL 378
09.07.2009
Drilling of Spring Energy's first exploration well (35/12-2) on the Grosbeak prospect in PL 378, 25 km north of the Troll field in the North Sea, has been completed.
Pål Reiulf Olsen joins HitecVision as Senior Partner
29.06.2009
HitecVision is pleased to announce a new strenghtening of its specialist oil and gas investment team.
Spring Energy: Appraisal well started on PL 407
19.06.2009
Drilling of the Bream appraisal well in PL 407, 50 km Northwest of the Yme Field in the North Sea has started. Dependent upon the results of the vertical wellbore, a horizontal sidetrack could be drilled and a DST performed.
Spring Energy: First exploration well commenced on PL 378
03.06.2009
Drilling of the Grosbeak exploration well in PL 378, 25 km North of the Troll field in the North Sea has started. The Grosbeak prospect is situated in a prolific hydrocarbon province, and a total of 11 prospects have been identified within PL 378.
28.05.2009
Jens Kristian Rein has been employed as new Chief Financial Officer/CFO in STG AS as per 7th of August 2009. He takes the position in a team together with Atle Strømme/CEO and Ingvar Malde/Group Controller.
Arne Trondsen elected to board of NVCA
26.05.2009
On the 25th May 2009, Arne Trondsen of HitecVision was elected to the board of the Norwegian Venture Capital and Private Equity Association.
Spring Energy pre-qualified as operator
19.05.2009
The Ministry of Petroleum and Energy (MPE) has pre-qualified Spring Energy as an operator on the Norwegian Continental Shelf (NCS).
Divestment of remaining shares in Noreco
07.05.2009
On May 7th 2009, the Fund’s remaining shareholding in Norwegian Energy company ASA (Noreco) was divested through a market placement, bringing total proceeds from the Fund’s Noreco investment to about NOK 360 million. The exit is in line with Hitecvision’s ownership plan and within the original fund term.
Five awards to Noreco in the 20th license round
04.05.2009
Norwegian Energy Company ASA (Noreco - OSE:NOR), The oil company Noreco has been offered five licenses in the 20th license round on the Norwegian continental shelf.
Spring Energy awarded 2 licenses in 20th round
04.05.2009
As announced by the Norwegian Ministry of Petroleum and Energy on 30 April 2009, Spring Energy has been awarded 2 licenses in the 20th Round.
HitecVision announces 2008 results - another good year
29.04.2009
HitecVision AS has had another active year. The company's 2008 revenues were NOK 262 million, and net income after taxes, before minorities' shares of income was NOK 181 million. Net income after tax and minority shares was NOK 121 million. The Board proposes a dividend of NOK 110 million, corresponding to NOK 5.97 per share.
Spring Energy expands its exploration loan facility with SEB
24.04.2009
The Oslo-based oil company Spring Energy has signed a Term Sheet with Skandinaviska Enskilda Banken AB ("SEB") for an expansion of its revolving exploration loan facility from NOK 400 million to NOK 600 million.
New International valve group created
17.04.2009
- Valco Group aims for further industry consolidation.
Valco Group announces its new corporate identity as a leading international player in the market for industrial valves. The new group, with revenues of about USD 100 million in 2008, currently operates in the oil & gas, marine and energy & industry sectors. Valco Group has been formed from the Norwegian and French valve operations of the former Flowtech division of Technor Group.
Noble Denton Group Ltd to be acquired by Germanischer Lloyd
01.04.2009
Oslo and London, 1 April 2009:
HitecVision and Ferncliff announced today that their common portfolio company Noble Denton Group Ltd. will be acquired by Germanischer Lloyd (GL) in an all-cash transaction.
LEIRVIK acquires Reanco Team AS
16.03.2009
LEIRVIK Module Technology today announced that the company has acquired Reanco Team AS from UK based James Fisher Group.
11.03.2009
Norwegian Energy Company ASA (Noreco - OSE:NOR), Noreco has received pre-acceptances from the majority of the bondholders for a proposed refinancing of the existing NOK 2,240 million bond (OSE:NOR01 & NOR02). The proposal entails a new amortization profile and extension of parts of the loan, which will enhance Noreco's financial position.
Leirvik establishes Leirvik Emtunga
05.03.2009
HitecVision's portfolio company Leirvik Module Technology has acquired certain key assets of its former competitor Emtunga Offshore, which filed for bankruptcy in December.Leirvik has re-established operations under the new name Leirvik Emtunga AB.
Trond Sel appointed President of Hitec Products Drilling AS
05.03.2009
Trond Ferkingstad has resigned from his positon as President for the company to pursue opportunities outside the Group. He will be succeeded by Trond Sel (52).
Spring Energy acquires a 15% working interest in PL 405 and PL 405B
05.03.2009
The Oslo-based oil company Spring Energy has reached agreement with Faroe Petroleum Norge AS ("Faroe") to acquire a 15 % working interest in production licenses PL 405 and PL 405B, located in the Southern North Sea.
Proposal by Noreco to merge Noreco and Det norske oljeselskap
03.02.2009
Norwegian Energy Company ASA (Noreco - OSE:NOR), has today proposed to Det norske oljeselskap ASA (Det norske - OSE:DETNOR) a combination of the two companies through a share-for-share merger. The proposed exchange ratio is 2.44918 Noreco shares per each Det norske share, implying a 52.5% ownership in the combined company for Det norske shareholders. Noreco's proposal gives a 9.3 % premium to the 6 months volume weighted average trading prices. Noreco believes the proposed terms to be fair and balanced, and is looking forward to discussions with Det norske.
Spring Energy acquires a 20 % working interest in PL378
28.01.2009
The Oslo-based oil company Spring Energy has reached agreement with Premier Oil Norge AS ("Premier") to acquire a 20 % working interest in production license PL 378 located in the Northern North Sea.
Noble Denton strengthens its position in Norway
19.12.2008
Noble Denton today announces the acquisition of Standard Engineering and Brevik Engineering from Oslo-based Strata Marine & Offshore for MNOK 273 (£25.9m).
Spring Energy awarded 4 licenses in APA 2008
19.12.2008
As announced by the Norwegian Ministry of Petroleum and Energy on 18 December 2008, Spring Energy has been awarded 4 licenses in the APA 2008.
Noreco: strong production in November and successful testing of Brage well
08.12.2008
Noreco achieved an average daily oil, gas and LNG production of 15,200 barrels in Novemer. The Brage well has been tested at stable oil rates of more than 15 000 barrels per day gross, which represents more than 1 800 barrels per day net to Noreco
28.11.2008
HitecVision Private Equity IV LP has divested its 40% shareholding in Haaland Group AS. Hatteland Gruppen, through Jakob Hatteland Logistics AS (JHL), has acquired the Fund's shares.
Vector signs framework agreement with StatoilHydro
24.11.2008
Vector International AS has signed a framework agreement with StatoilHydro regarding supply of pipes and flanges. The agreement primarily conserns deliveries to fields and projects on the Norwegian Continental Shelf, but may also be used in StatoilHydro's international projects. The agreement is valid for 2 years from 1st January 2009, with an option to prolong the agreement by 2 plus 2 years.
HitecVision wins award for Noreco exit
21.11.2008
Paris, 21st November 2008: HitecVision received the Real Deals & EVCA's European Private Equity Award in the Nordic market for the partial exit of Noreco. HitecVision made the investment in Noreco in 2005, and realised parts of its holding in the company in June 2008.
Noreco: share capital increase (read more)
18.11.2008
The share capital increase in Norwegian Energy Company ASA (Noreco, OSE: NOR) announced on 4th November 2008 was yesterday registered with the Norwegian Registry of Business Enterprises. Following the registration, Noreco`s share capital is NOK 444,428,018.70.
Payment of extraordinary dividend and change of company name
18.11.2008
The shareholders of HitecVision has in an extraordinary general meeting resolved to pay an extraordinary dividend of NOK 40 million and to change the company name to HitecVision AS.
Noreco awarded 6 licenses in the UK (read more)
17.11.2008
Norwegian Energy Company ASa (Noreco, OSE: NOR)has been offered six licenses in the UK 25th offshore round.
Thorleif Enger new Chairman of Spring Energy
07.11.2008
7. November 2008.
The Board of Spring Energy is pleased to announce the nomination of Mr. Thorleif Enger as new Chairman of the Board of Spring Energy Norway AS.
Spring Energy acquires a 30 % working interest in PL411
06.11.2008
The Oslo-based oil company Spring Energy has reached agreement with Norwegian Energy Company ASA ("Noreco") to acquire a 30 % working interest in production license PL 411 located in the North Sea.
HitecVision - proposal to pay extraordinary dividend
04.11.2008
In the meeting of the board of directors of HitecVision Private Equity AS held on 31st October it was resolved to call an extraordinary general meeting to propose payment of an extraordinary dividend of NOK 40 million and to change the company name to HitecVision AS.
Noreco: NOK 560 million early redemption of bonds and deletion of bond covenant approved
03.11.2008
Norwegian Energy Company ASA (Noreco - OSE:NOR), Noreco has received approval from the NOK 2,800 million bondholders to redeem NOK 560 million of bonds at par value and remove the covenant related to the market adjusted equity ratio in the loan agreement.
Sorco awarded NOK 300 million contract by Talisman
29.10.2008
Sørco AS announced today that it has entered into an agreement with Talisman Energy Norge AS to provide maintenance, modifications and operations support to the Gyda and Yme fields. The contract is valued at NOK 300 million and is in force until 2012.
23.10.2008
Norwegian Energy Company ASA (Noreco, OSE:NOR) has discovered oil in the Knockandoo-Talisker exploration well near the producing Brage field in Norway, where it owns a 13% share. The well is now being completed and is expected to start production within 3-4 weeks.
Noreco: Proposed NOK 560 early redemption of bonds and deletion of bond covenant
22.10.2008
Noreco has received pre-acceptances from the majority of the NOK 2,800 million bondholders to redeem NOK 560 million of bonds at par value and remove the covenant related to the market adjusted equity ratio in the loan agreement.
Spring Energy acquires a 30% working interest in PL344
14.10.2008
The Oslo-based oil company Spring Energy has reached agreement with Revus Energy ASA ("Revus") to acquire a 30 % working interest in production license PL 344 located in the Northern North Sea.
Noble Denton appoints Group Manager Director Designate
01.10.2008
The Board of Noble Denton today announces the appointment of John Wishart as Group Managing Director Designate, Noble Denton.
Noreco: strong production and strong cash position (read more)
01.10.2008
Noreco's average daily production in the third quarter of 2008 was 15 400 boe per day. Sale of oil in September was done at an average oil price of 98 US$ per barrel (116 US$ for Q3). The strong production has further improved the cash position for the company, and parts of the cash has been used to repay debt.
HitecVision acquires 12,000 own shares
22.09.2008
On 19th September 2008 HitecVision acquired 12,000 own shares in the market at a price of NOK 55 per share. Following the transaction HitecVision holds in total 12,998 own shares.
Noble Denton wins biggest ever contract (read more)
05.09.2008
Noble Denton has secured its largest contract to date, worth approximately GBP 15million. The contract is from Thanet Offshore Wind Limited (TOW) to carry out project management services and foundation installation management on the Thanet Offshore Wind Farm Project.
26.08.2008
HitecVision's report for the first six months of 2008 is now available.
HitecVision co-hosts ONS Energy Finance Symposium on 28th August
22.08.2008
For the fourth time ONS, StatoilHydro and HitecVision are organising this finance-focused event, which has found its place alongside the otherwise more technologically-oriented ONS programme.
Continued strong growth for HitecVision in the first six months of 2008
21.08.2008
HitecVision Private Equity AS (NOTC-A: HITP) announced today that the company achieved revenues of NOK 88.2 million the first six months of 2008 and profits of NOK 40.8 million. Assets under management amounted to NOK 6.7 billion.
Spring Energy signs loan facility to finance exploration and production activities
12.08.2008
Spring Energy has signed a NOK 400 million loan facility agreement with SEB. The loan facility will assist Spring Energy in financing the company's 2008 - 2010 exploration and appraisal activities on the Norwegian Continental Shelf.
Noreco makes oil discovery in Denmark
08.08.2008
Noreco announced today that oil has been discovered in the South Tor Pod exploration well in Denmark, where Noreco owns a 6.56% share.
HitecVision sponsors the Norwegian Society for Sea Rescue Summer School for children
25.07.2008
As part of HitecVision’s annual sponsor program the firm has contributed NOK 100,000 the NSSR's Summer School in Stavanger. The sponsorship has been used to purchase a Zodiac RIB. This is the first year in operation for the Summer School in Stavanger, giving children aged 9 to 12 years the opportunity to enjoy a week each learning seamanship and sea sense.
Spring Energy prequalifies as a licencee
14.07.2008
The Ministry of Petroleum and Energy (MPE) has prequalified Spring Energy as a licensee on the Norwegian Continental Shelf (NCS).
HitecVision sells part of Fund III Portfolio
10.07.2008
HitecVision announced today that it has sold three investments from HitecVision Private Equity III to Cubera Private Equity, a secondaries specialist.
30.06.2008
Stavanger, 30th June 2008: Noreco offers all holders of 6% Noreco convertible bonds to convert their bonds to shares whereby accepting bondholders will receive a fixed premium of 7.0% to par value plus accrued interest in cash.
Spring Energy buys into three Norwegian North Sea oil discoveries
30.06.2008
Oslo, 30th June 2008: Spring Energy has reached agreement with Serica Energy to acquire their Norwegian portfolio consisting of a 20 % working interest in two production licenses, PL406 and PL407.
HitecVision buys back 1,145,450 own shares
05.06.2008
HitecVision Private Equity AS has resolved to buy back 1,145,450 shares further to 111 acceptances received by the expiration of the offer period. The settlement for the shares will be executed by 13th June 2008.
02.06.2008
Reference is made to the offer letter submitted by HitecVision Private Equity on 14th May 2008 regarding purchase of up to 1,841,428 own shares.
The offer period expired on 30th May 2008 at 16:00. HitecVision Private Equity has received 112 acceptance forms totalling 1,140,937 shares at the offered price of NOK 55 per share.
HitecVision submits offer to buy back own shares
14.05.2008
Pursuant to the resolution made in the General Assembly on 5th May 2008 HitecVision Private Equity AS (NOTC: HITP) has today submitted an offer to its investors to buy back up to 1,841,428 shares.
14.05.2008
HitecVision is currently recruiting for Investment Directors (Industry) and Financial Analysts. For further details, please see Team/Vacancies
13.05.2008
The sale of MTEM Ltd., a former portfolio company of HitecVision Private Equity III AS, has recently been voted "Venture Capital Deal of the Year" in the prestigious UK Private Equity Awards 2008 and was awarded "Technology Venture Exit of the Year" in the UK Technology Innovation and Growth Awards.
Halliburton acquires HitecVision's investment in Knowledge Systems
06.05.2008
HitecVision announced today an agreement to sell its investment in Knowledge Systems, the world’s leading provider of geopressure and geomechanical solutions, to Halliburton.
HitecVision Annual Report 2007
28.04.2008
Stavanger, 28th April 2008: HitecVision announces operating revenues of NOK 86 million and a net result of NOK 80 million for 2007.
Noreco: Completed private placement, subsequent offering planned
28.04.2008
Stavanger, 28th April 2008: Norwegian Energy Company ASA (Noreco, OSE:NOR), Noreco has completed a private placement for 19,149 million new shares. The private placement was substantially over-subscribed. The subscription price was set to NOK 23.50 per share, giving gross proceeds of approximately NOK 450 million.
Noreco acquires Talisman Oil Denmark
25.04.2008
Stavanger, 25th April: Norwegian Energy Company ASA (OSE:NOR), Noreco has entered into a Share Sale Agreement with Paladin Resources Limited (whose ultimate parent company is Talisman Energy Inc) to acquire all the shares in Talisman Oil Denmark Limited for a consideration of USD 83 million.
HitecVision V invests in Spring Energy Norway AS
23.04.2008
Stavanger, 24th April 2008: HitecVision announced today an agreement to provide USD 120 million in equity financing to the oil and gas company Spring Energy Norway.
NCA acquires LIS Energy Services LLC
03.04.2008
Norse Cutting & Abandonment AS (NCA) acquires 100% of the assets of plugging and abandonment (P&A) specialist LIS Energy Services LLC in Louisiana, USA. The acquisition strengthens NCA’s service range significantly within the P&A and decommissioning industry and provides a vital next step in becoming the world leading decommissioning specialist.
HitecVision V invests in Hitec Products Drilling AS
28.03.2008
Stavanger, 28th March 2008: HitecVision acquires 60% of independent drilling and well solutions provider Hitec Products Drilling, providing capital for continued expansion.
HitecVision hard caps new fund at USD 800,000,000 following heavy oversubscription
28.02.2008
HitecVision announced today that it has received commitments of USD 800 million for its new fund HitecVision V, exceeding the original USD 600 million target. Following strong support from existing investors and significant interest from new international investors the fund was heavily oversubscribed.
Noreco: Brage well tested more than 17,000 barrels per day
25.02.2008
Norwegian Energy Company ASA (Noreco) announced today the successful completion of a well on the North flank of the Brage field in Norway, which adds significant production and reserves to the field.
Maritime Systems and Teknisk Bureau join the new technology group APPLY
18.02.2008
Stavanger, 18th February 2008: Maritime Systems and Teknisk Bureau join forces with Asator and North Sea Innovation, forming the technology group APPLY. APPLY will be a substantial player in the offshore and construction markets with nearly 1000 employees and expected revenues over NOK 1 billion.
Noble Denton ranked number 59 on Deloitte's Buyout Track 100
17.02.2008
London, 17th February 2008: Fast growing profits earned Noble Denton a ranking as number 59 of mid market private equity-backed companies in Britain.
Noreco: Largest North Sea Discovery in six years
12.02.2008
Noreco announced today the completion of the first phase of the appraisal of the Huntingon discovery, of which the company owns 20%.
Noreco awarded nine new licenses in the 2007 APA round
08.02.2008
Stavanger, February 8th 2008: Norwegian Energy Company ASA (Noreco) has been awarded 9 new licenses including 3 operatorships in the 2007 Awards in Predefined Areas (APA) in Norway.
Noreco signed NOK 800 million loan facility
05.02.2008
Noreco today signed a NOK 800 million loan facility agreement with Sparebank1 SR-Bank and DnB NOR. The facility will enable Noreco to finance up to 70% of its exploration and appraisal activities on the Norwegian Continental Shelf over the next two years.
16.01.2008
The Board has resolved to utilise its authorisation to issue new shares. 94,338 new shares were resolved issued pursuant to the Company's established bonus program for certain employees. The subscription price for each share is NOK 30.
Noreco's Oselvar well confirms good reservoir characteristics
04.01.2008
Norwegian Energy Company ASA (Noreco) today announced the results of an appraisal well on the Oselvar discovery in license PL274 on the Norwegian continental shelf.
Carl Liehung appointed new CEO of NCA
02.01.2008
Liehung comes from a position as Senior Vice President for Business Development Oil, Gas and Marine Solutions Division in Siemens AG.
HitecVision at student gathering in Stavanger on 28th December
13.12.2007
HitecVision will have a stand at Greater Stavanger Economic Development's gathering for ANSA students at Hall Toll on Friday, 28th December.
Exploration financing for Noreco
28.11.2007
Stavanger, November 28th 2007: Norwegian Energy Company ASA (Noreco) is seeking a loan agreement for NOK 800 million to finance the company's exploration activity on the Norwegian Shelf.
Jon Gjedebo voted Entrepreneur of the Year
28.11.2007
Jon Gjedebo, co-founder and Chairman of HitecVision, has been voted Ernst & Young Entrepreneur of the Year 2007 in Norway.
RigNet Ranked Number 14 in Deloitte’s Technology Fast 50 Program for Texas
12.11.2007
RigNet's CEO Mark Slaughter credits the Company’s dedicated employees, a distinct growth strategy, and its oil and gas customers with the Company's 1,316 percent revenue growth from 2002 to 2006.
09.11.2007
Stavanger, November 9th, 2007: Norwegian Oil Compay ASA (Noreco) was today listed on Oslo Stock Exchange.
Noreco applied for listing on Oslo Stock Exchange
08.10.2007
Stavanger, October 8th, 2007: Noreco has applied for a listing on Oslo Stock Exchange. Prior to the listing Noreco will conduct a Private Placement of up to 5.6 million new shares. In connection with the listing Noreco expects to conduct a retail public offering of up to NOK 50 million.
18.09.2007
Bryne, 20th September 2007: Bryne, 20th September 2007: The Aarbakke Group announced today that it has entered into a letter of intent to acquire I.O.S. Tubular Management AS (ITM), a leading provider of integrated and value added tubular services.
Atle Eide joins HitecVision as Partner
17.09.2007
September 17, 2007:HitecVision Private Equity announces the appointment of Atle Eide, Chairman of the Board of our Fund III and former CEO of Marine Harvest, as Partner.
04.09.2007
London, September 4th 2007: Noble Denton Group announced today the acquisition of Lowe Offshore International Ltd. (LOI). The move will significantly strengthen the Group’s international capability and increase annual turnover to in excess of 100 million USD.
29.08.2007
Stavanger, August 29th 2007: Norwegian Energy Company ASA (Noreco) announced today that as a consequence of the high acceptance level of the Mandatory Offer to the sharholders of Altinex ASA, Noreco has, as set out in the Mandatory Offer document and stock exchange notice dated August 23rd 2007, proceeded with a compulsory acquisition of the remaining shares outstanding in Altinex.
HitecVision announces half year results 2007
23.08.2007
Pure Group joins forces with Torr Canada
31.07.2007
Noreco sets forth mandatory offer to acquire remaining shares in Altinex
23.07.2007
Stavanger, July 23rd 2007: Norwegian Energy Company ASA (Noreco) has today set forth a mandatory offer to acquire all shares in Altinex ASA (Altinex, OSE: ALX) not already owned by Noreco at an offer price/exchange ratio of NOK 22.00 per share in Altinex, which is equal to the highest price paid by Noreco for shares in Altinex.
Noble Denton acquires Poseidon Maritime (UK) LTD
17.07.2007
London, July 16th 2007: Noble Denton Group, the global offshore and marine consulting firm, today announces the acquisition of Poseidon Maritime (UK) Ltd for £2.4 million.
16.07.2007
Stavanger, 16th July, 2007: Norwegian Energy Company ASA (Noreco) has acquired an additional 8,600,000 shares in Altinex ASA (OSE: ALX), representing 4.35% of the total shares outstanding.
Noreco has acquired all shares from CEO and Chairman of Altinex, now holds 56.08% of the shares
21.06.2007
Stavanger, June 21st 2007: Norwegian Energy Company AS (Noreco) announced today that it has acquired another 13.81% of the shares in Altinex ASA (OSE: ALX), and now holds 56.08% of the total shares outstanding and 42.19% of the voting shares.
20.06.2007
Stavanger, June 20th 2007: HitecVision Private Equity AS announced today the sale of its portfolio company MTEM Ltd. to Petroleum Geo-Services ASA (NYSE and OSE: PGS).
Noreco acquires 15% of license from Revus
19.06.2007
Aarbakke acquires Brd. Bauer-Nilsen AS
13.06.2007
Bryne, 13th June 2007: The Aarbakke Group announced today that it has entered into a letter of intent to acquire 78% of Brd. Bauer-Nilsen AS (BBN), a leading manufacturer of high-pressure hydraulic equipment for offshore, marine and land-based industries.
Noreco awarded 2 additional licenses on the Norwegian Continental Shelf
01.06.2007
Stavanger, 1st June 2007: Norwegian Energy Company AS (Noreco) has been awarded 2 additional licenses in the 2006 Awards in Predefined Areas (APA) on the NCS. The 2 additional licenses are located in the Haltenbanken area and the Ormen Lange area.
Final closing of NCA's acquisition of I.O.S.
28.05.2007
Stavanger, 23rd May 2007: Norse Cutting & AbandonmentAS (NCA) has today announced the final closing of the acquisition of 70% of the shares in the mooring company I.O.S Offshore AS (I.O.S). NCA has an option to acquire the remaining 30% of I.O.S.
Noreco seeks merger with Altinex
25.05.2007
Stavanger, 25th May 2007: Norwegian Energy Company AS (Noreco) has acquired 35.9% of the shares in Altinex ASA (Altinex), and intends to approach the board of Altinex in order to discuss the potential for a merger.
Vector joins forces with Icarus
22.05.2007
Herstal, Belgium and Drammen, Norway, 21st May 2007: Vector International is acquiring the Belgian company Icarus, a leading specialist provider of piping materials and valves to the petroleum, chemical and petrochemical industries.
Noreco has acquired 10% of Altinex, bids for additional 15% of the company
15.05.2007
Stavanger, 14th May 2007: Norwegian Energy Company AS (Noreco) has acquired a total of 100,000,000 shares in Altinex ASA. Following the purchase, Noreco owns 198,380,000 shares in Altinex, representing 10.029% of the total outstanding shares. Noreco has issued an offer to acquire an additional 15% of the shares in Altinex at NOK 1.45 per share.
HitecVision sponsors Pia Myrvold
12.05.2007
HitecVision is the proud sponsor of multi-artist Pia Myrvold’s exhibition at Rogaland Kunstmuseum from November 2007 to February 2008.
HitecVision announces investment in Poseidon Group
30.04.2007
Stavanger, 30th April 2007: HitecVision Private Equity AS has entered into an agreement to acquire 40% of Poseidon Group and will make additional investments to further strengthen the company’s position in the international subsea market.
Noble Denton Norge AS acquires Intelligent Decisions AS
26.04.2007
Oslo, 24th April 2007: Noble Denton Norge AS (“Noble Denton”), an associated company of the Noble Denton Group - the leading offshore and marine consulting engineering firm - today announces the acquisition of Intelligent Decisions AS (“InDec”), a specialist in high quality R&D, engineering & project management for clients in the power, marine, renewables and the oil and gas industries.
HitecVision announces investment in the Sørco Group
17.04.2007
Stavanger, 17th April 2007: HitecVision Private Equity has today entered into an agreement to acquire 49% of the Sørco Group, a major provider of systems and services to the Norwegian and international oil and gas industry.
08.03.2007
As of 12th March 2007, HitecVision's head office is located at Jåttåvågveien 7, Stavanger, Norway. Our postal address and telephone numbers have not changed.
Per Hatlem has joined HitecVision as Investment Manager
05.03.2007
Hatlem’s exensive experience includes 14 years within the E&P industry working 10 years for Norske Shell and Statoil on R&D project management and commercialization and 4 years as CEO of the listed oil services company Norwegian Applied Technology ASA. Hatlem has also been the CEO of Comrod AS, a leading manufacturer of highly specialized antennas, masts and power supply mainly directed at the defence and marine markets world wide, and the CEO of the international food producer and supplier Danica Foods Group AS.
Technor and Italsmea join forces
05.03.2007
Stavanger, 1 March 2007: Technor has acquired 70% of the shares in Italsmea with an option to acquire the remaining 30% within 3 years
Hitec-founder Jon Gjedebo receives OTC Heritage Award
02.03.2007
Stavanger, 2 March 2007: Jon Gjedebo, co-founder of the Hitec group and HitecVision Private Equity, has been honoured with the OTC Heritage Award for his contributions to the technological development in the offshore industry.
HitecVision expands to Houston
16.02.2007
Stavanger, 16th February 2007: In response to increased deal flow and growing interest from investors in the United States and Canada, HitecVision is opening an office in Houston, Texas.
High activity level and strong result for 2006
15.02.2007
Stavanger, 16 th February 2007: HitecVision announces net income of NOK 132 million for 2006 and dividend of NOK 100 million.
30.01.2007
Stavanger, 30 January 2007: Noreco welcomes the announcement that it has been awarded 7 new licenses in the 2006 Awards in Predefined Areas (APA) on the NCS. Noreco will be operator in 2 of these licenses. The awards include 6 licenses in the North Sea and one license in the Norwegian Sea.
Scandpower acquires Sharp Exploration Services (SEPS) of Houston, Texas
12.01.2007
Founded by Richard Sharp in 2002, SEPS is recognized as an independent expert advisor on multiphase meter (MPM) selection and deployment for oil and gas companies worldwide. As a natural extension of MPM hardware implementation, SEPS is also leading in allocation.
Noreco prequalified as operator on the NCS
12.12.2006
Stavanger, 12 December 2006:
Norwegian Energy Company AS (Noreco) announced today that the company has been prequalified as an operator on the Norwegian Continental Shelf (NCS).
HitecVision wins Nordic Private Equity Award
29.11.2006
HitecVision is pleased to announce that at the 2006 Nordic Unquote" Private Equity Awards, it was awarded the Mid-Market Exit of the Year for the exit from Scandpower Petroleum Technology.
Scandpower is Norway's fastest-growing technology company
22.11.2006
Oslo, 21 November 2006:
Scandpower Petroleum Technology has been named Norway's fastest growing technology company, winning Deloitte's "Fast 50" prize for 2006.
RigNet and LandTel Announce Merger
28.09.2006
Houston, 27 September 2006:
Combination of RigNet and LandTel creates powerful communications offering in the upstream oil and gas industry
HitecVision announces investment in Noble Denton
26.09.2006
Stavanger, 25. September 2006:
HitecVision today announces an investment in international marine and engineering consultants Noble Denton.
21.09.2006
HOUSTON, TX – September 21, 2006:
RigNet, Inc., a leading global provider of managed communications services for the upstream oil and gas industry, today announced it has acquired OilCamp AS, an independent Norwegian provider of communications services to the oil industry. OilCamp operates the SOIL Network (Secure Oil Information Link), a secure, high capacity communications network for the oil and gas industry in Norway and the UK. The company also supplies communications solutions to a number of drilling rigs currently operating on the Norwegian continental shelf.
RigNet named as one of America's fastest-growing private companies
14.09.2006
Ranked no. 274 in Inc. Magazine’s List of the 500 Fastest-Growing Private Companies in the US.
Noreco acquires three Norwegian licenses from Talisman
05.09.2006
Stavanger, 5 September 2006:
Norwegian Energy Company AS (Noreco) announced today that the company has entered into an agreement with Talisman to acquire a 20 % interest in PL 148 and a 17.5 % interest in both of PL 347 and PL 348 on the Norwegian Continental Shelf (NCS).
31.08.2006
We are currently seeking to expand our team by recruiting to the following positions:
Head of Investor Relations
Investment Manager, Industry
Industry Analyst
Back office associate
Energivekst fund changes name to HitecVision Private Equity III
30.08.2006
The fund's shareholder meeting has today approved a name change to bring the name of the fund into line with normal private equity industry practice.
HitecVision announces half year results
21.08.2006
HitecVision Private Equity today announces its results for the first six months 2006.
NORECO enters into co-operation agreement with Lundin Petroleum
18.08.2006
Stavanger, 18th August 2006:
Norwegian Energy Company AS (NORECO) announced today that the company has entered into a cooperation agreement with Lundin Petroleum to join forces in pursuing exploration, development and production opportunities in the Southern North Sea.
HitecVision acquires Bennex and initiates co-operation between Bennex and Technor
23.06.2006
HitecVision Private Equity has negotiated an agreement for the acquisition, through CET Holding AS, of Bennex AS. CET Holding has also recently acquired 100% of Technor ASA. HitecVision sees considerable potential in developing a closer integration between Technor og Bennex.
HitecVision announces three transactions
22.06.2006
Stavanger, 22. June 2006:
HitecVision Private Equity today announces three new transactions: A major new investment, a major add-on acquisition, and a company sale.
HitecVision announces sale of Scandpower
20.06.2006
Stavanger/Oslo, 20th June 2006:
The owners of Scandpower Petroleum Technology Holding AS (SPT) have signed an agreement to sell a 70 per cent shareholding in the company to Altor, a leading Nordic private equity investor. The current owners, who include the company’s management; HitecVision Private Equity (through its Energivekst fund); and certain other investors, will retain a 30 per cent ownership on a pro-rata basis.
HitecVision holds final close for oil and gas sector fund at USD 300 million
13.06.2006
Stavanger, 13th June 2006:
HitecVision Private Equity, a private equity firm focusing on the energy sector, is pleased to announce the second and final closing of its new fund, HitecVision Private Equity IV, with capital commitments having reached the fund’s hard cap of USD 300 million. The fund, which is one of the largest ever raised in Europe targeting this sector only, will make controlling-stake investments in companies within the oil and gas sector in Europe and North America. Investments from the fund will be allocated to buy-out and growth capital investments, typically between USD 15 and 50 million prior to leverage.
HitecVision closes Technor acquisition
13.06.2006
Stavanger, 13th June 2006:
HitecVision Private Equity announces that it has today closed its acquisition, through the holding company CET Holding AS, of 94.6 per cent of the shares of Technor ASA. Technor is listed on the Oslo Stock Exchange, and CET Holding has announced its intention of acquiring the remaining shares and de-listing the company.
HitecVision announces investment in Vector International AS
01.06.2006
Oslo/Stavanger, 1st June, 2006: HitecVision Private Equity announced today that it has, through the investment fund HitecVision Private Equity IV LP, made an investment in pipe connector specialist Vector International AS.
HitecVision announces completion of bid for Technor ASA
19.05.2006
HitecVision today announced that CET Holding AS, a company wholly owned by HitecVision Private Equity IV LP, has decided to complete its bid for Technor ASA. CET has received acceptances totalling 94.26% of Technor's shares.
(Click heading for full information, in Norwegian only.)
NCA awarded major contract for GoM hurricane removals
29.03.2006
Houston / Stavanger, 29th March 2006:
Chevron Corporation has awarded NCA Inc. a contract for cutting services in the Gulf of Mexico following Rita and Katrina hurricane damages in 2005.
HitecVision announces investment in OilCamp AS
27.03.2006
Stavanger / Oslo 24. March 2006: OilCamp AS, a leading Norwegian provider of communications services to the oil industry, has today changed owners. The Company, which was established by Telenor in 2000 and which over the last few years has been owned by Telenor Venture IV, has been sold to the management team led by CEO Bjørn Munthe and sales & marketing director Tom Rune Espedal, with financial support from Petroleum Networks Holding AS.
HitecVision Private Equity announces possible bid for OSE-listed Technor ASA
27.03.2006
Noreco buys 40% of PL271 and PL302
15.03.2006
Stavanger, 15th March 2006:
Norwegian Energy Company AS (NORECO) announced today that the company has entered into an agreement for the purchase of 40% in PL271 and PL302 from DONG Norge AS. PL271 and PL302 are operated by Norsk Hydro AS (40% share). In addition Talisman Norge AS (20% share) participates in the license. The agreement is subject to approval by Norwegian authorities.
HitecVision announces results for the full year 2005
20.02.2006
Stavanger, 20. February 2006:
HitecVision Private Equity AS today announced its results for the full year 2005. A strong year has created income that will be recognized in 2006, and new revenue streams from 2006.
ENSCO and RigNet Renew Fleet Wide Contract
06.02.2006
ENSCO Offshore Company and RigNet
renew fleet-wide contract for managed services of offshore communications.
Additional VSAT services in Gulf of Mexico.
HitecVision Private Equity holds first closing of its new fund at USD 283 million
24.01.2006
Stavanger, Norway, 24th January 2006:
HitecVision Private Equity, a private equity firm focusing on the energy sector, is pleased to announce the first closing of its new fund, HitecVision Private Equity IV, with capital commitments totalling USD 283 million. The fund will make controlling-stake investments in companies within the oil and gas sector in Europe and the United States.
Noreco awarded three licenses on the Norwegian Continental Shelf
15.12.2005
The first-ever license application from the new company yields desired results.
12.12.2005
HitecVision Private Equity is currently seeking to expand its team by recruiting three associates / senior associates. The ideal candidate has 2 - 5 years relevant experience from investment banking, management consulting, or the relevant department of a major corporation.
22.11.2005
HitecVision Private Equity AS is pleased to announce that Pål M. Reed (44) has joined the team as partner as of today. Reed is educated from the Norwegian School of Economics and Business Administration and the universities of Oslo, Bergen and Paris, and has long and varied experience from the investment and banking industries.
RigNet recognized as Texas "Rising Star"
17.11.2005
Deloitte & Touche Reveals Fastest Growing Technology Companies in Texas
Result for the first six months
07.10.2005
HitecVision Private Equity today announces its results for the first six months 2005.
07.10.2005
HitecVision Private Equity today announces a NOK 165 million investment in Norwegian Energy Company AS (Noreco), a newly established independent oil company.
MTEM wins Deal of the Year award
09.09.2005
Launched in 1998, the 'Scottish Business Insider' Deals & Dealmakers' Awards recognises achievement by Scottish companies and the companies and people leading Scotland's corporate finance marketplace. MTEM was selected for the Small / Mid Cap sector Deal of the Year because of the record £7.4M funding achieved in November 2004.
HitecVision disposes of Shareholding in APL ASA
26.08.2005
HitecVision has through a market transaction sold 4,726,313 shares in APL ASA held by its fund Energivekst, representing 24.3% of the total number of shares in APL ASA.
Knowledge Systems Launches Joint Industry Project to Improve Subsalt Pore Pressure Prediction
01.08.2005
1.8.2005
Houston, Texas, August 1, 2005
Knowledge Systems today announced the launch of a Joint Industry Project to develop an improved methodology for predicting subsalt geopressures. Using data from over 50 subsalt wells in the Gulf of Mexico, this project will develop best practices for pressure analysis below salt while examining methods to improve subsalt imaging with seismic data. Petrobras joins as initial project participant.
APL`s STP System selected for the Gulf of Mexico
18.07.2005
Arendal, 18 July 2005:
APL has received a purchase order from Bergesen Worldwide Offshore in Norway to supply a STP system for the PEMEX operated, KMZ (Ku, Maloob and Zaap) field in the Gulf of Mexico.
Gjensidige acquires 30% of Argentum’s investments
04.07.2005
Gjensidige acquires a 30%-share of the portfolio of the government owned investment company Argentum. – The sale unlocks close to NOK600m and shows that Argentum has achieved significant positive results in short time, says Managing Director Jørgen Kjærnes in Argentum.
Revus Energy floats on Oslo Stock Exchange
27.06.2005
Revus Energy, the independent Norwegian upstream company which HitecVision helped establish in 2003, has achieved a successful flotation of its business on the Oslo Stock Exchange. Trading of the company's ordinary shares is due to commence today.
HitecVision invests in Norse Cutting & Abandonment
23.06.2005
HitecVision Private Equity announced today that it has, through its Energivekst fund, made an investment in abandonment services specialist Norse Cutting & Abandonment AS.
Revus completes transaction with ExxonMobil
13.06.2005
Stavanger, 13 June 2005:
Revus Energy, the Norwegian Independent E&P company, announced today that the company's acquisition of ExxonMobil's 25 per cent interest in the two licenses PL090B and PL090C has been approved by Norwegian authorities and formally completed with ExxonMobil. The acquisition has already resulted in a commercial oil discovery.
Knowledge Systems, BP and INTEQ & Use WITSML for Real-Time, Wellbore Analysis
10.06.2005
10 June 2005:
Knowledge Systems announced that BP, INTEQ, and Knowledge Systems have implemented remote real-time wellbore stability analysis using Well Information Transfer Standard Markup Language (WITSML) offshore Trinidad. The companies were able to achieve the success through the use of advanced drilling software integrated with data management communication devices and exceptional team collaboration.
Corporate changes and new name
08.06.2005
The demerger of HitecVision became effective today. HitecVision' business is continued through two new companies: HitecVision Private Equity AS, and Hitec Industries AS.
Revus Energy appoints new board
01.06.2005
STAVANGER, 1 June 2005 :
Revus Energy announced today the appointment of new board members. The new board members will take up their appointments upon the conclusion of the previously announced IPO process. The present timetable predicts a 23 June 2005 listing on the Oslo Stock Exchange, and the new board will be effective from the first day of trading, i.e. 24 June.
Revus buys interests from ExxonMobil
13.05.2005
Stavanger 13.05.2005 – Norwegian Independent Revus Energy ASA today announced that it has signed an Agreement with ExxonMobil for purchase of their 25% interest in two acreage areas to be carved out from PL090 in block 35/11. The purchase price is not disclosed.
Revus Energy plans listing at the Oslo Stock Exchange
10.05.2005
STAVANGER/OSLO, 10 May 2005 – The oil company Revus Energy plans to apply for public listing at the Oslo Stock Exchange, and the company’s Board of Directors has informed the Oslo Stock Exchange of their intent to list the company shortly.
Knowledge Systems Names Kevin Brady Vice President - Marketing
12.04.2005
Houston, Texas, April 12, 2005
Knowledge Systems announced today that Kevin Brady has been named Vice President - Marketing. Kevin will lead Knowledge Systems’ marketing efforts as the company continues to build its global presence and expand its customer base and product mix.
http://www.offshore.no/nyheter/sak.asp?Id=9806
12.04.2005
Houston, Texas, April 12, 2005
Knowledge Systems announced today that Kevin Brady has been named Vice President - Marketing. Kevin will lead Knowledge Systems’ marketing efforts as the company continues to build its global presence and expand its customer base and product mix.
30.03.2005
HitecVision's Annual General Meeting has approved the proposed demerger of the company. The two new companies to be created from the current HitecVision, Hitec Industries and HitecVision Private Equity, are expected to start trading on the 8th June 2005. At the same time, NOK 82 million will be paid out to HitecVision's shareholders.
29.03.2005
Statoil og investeringsfondet Energivekst skal sammen satse på renseteknologi. I løpet av noen få år skal denne felles babyen omsette for flere hundre millioner kroner.
APL: Opening Operational Office in Kuala Lumpur
20.03.2005
March 20th 2005:
APL today inaugurates its new office in Kuala Lumpur, enabling the company to serve the Asia Pacific region from a local time zone.
APL listed on the Oslo Stock Exchange
18.03.2005
18 March 2005:
APL ASA announces the successful completion of its new share issue and a simultaneous secondary sale of shares by existing shareholders at a price of NOK 49.00 per share, in connection with the Company’s listing on Oslo Børs (the Oslo Stock Exchange).
The Company's first day of trading is today, Friday 18 March 2005, with the ticker symbol APL.
Forslag om fisjon av HitecVision
09.03.2005
Styret i HitecVision foreslår for generalforsamlingen at selskapet deles i to, ett investeringsselskap og ett forvaltningsselskap. Samtidig foreslås det en kontantutbetaling på 82 millioner kroner til aksjonærene.
APL: World's first offshore LNG terminal ready for operation
22.02.2005
February 22nd 2005:
The STL™ System for the Energy Bridge™ project was successfully installed in Gulf of Mexico, located 116 miles offshore Louisiana, February 5, 2005. The terminal is owned and operated by Excelerate Energy L.L.C. The world's first offshore discharge of an LNG carrier is expected to take place mid March 2005.
Scandpower: SPT and Knowledge Reservoir to jointly pursue software-based history-matching market
17.02.2005
HOUSTON, February 17, 2005 --- Knowledge Reservoir and Scandpower Petroleum Technology (SPT) have signed an agreement to jointly pursue the software-based reservoir simulation history-matching market.
Scandpower Petroleum Technology: Teknologidrevet suksess
17.02.2005
17th February 2005:
Norwegian oil industry web site offshore.no publishes a major article about Scandpower Petroleum Technology
APL applies for listing on the Oslo Stock Exchange
10.02.2005
Arendal, Norway, 10 February 2005:
Advanced Production and Loading (APL) submitted its application for listing on the Oslo Stock Exchange (OSE) today. APL is a Norwegian-owned, internationally leading technology company in the oil services sector. Through an OSE listing, APL seeks to strengthen the company’s equity, finance further growth and secure broader ownership. The company’s OSE listing is expected to be approved by the end of March 2005.
Revus Energy announces asset acquisition
31.01.2005
Revus Energy AS (“Revus”) and Svenska Petroleum AS (“Svenska”) today announced that they have signed a Sales and Purchase Agreement where Revus will acquire Svenska’s 4.5% interest in the Veslefrikk oil field on the Norwegian Continental shelf for an undisclosed sum.
HitecVision announces investment in Knowledge Systems
19.01.2005
HitecVision announced today that it has, through its fund Energivekst, acquired a 35% ownership position in Knowledge Systems, Inc. (KSI) in a combination of purchase of secondary common shares from Knowledge Systems’ founder and the issuance of primary common shares by Knowledge Systems.
APL's STL system selected for the Volve field development
18.01.2005
Advanced Production and Loading AS (APL) today announced that it late 2004 has signed a letter of intent with Mærsk Contractors, for a Submerged Turret Loading (STL) system for mooring a Floating Storage and Offloading (FSO) vessel at the Statoil operated Volve field.
APL's SAL system selected by Petro-Canada for the DeRuyter field development
23.12.2004
Advanced Production and Loading AS (APL) today announced that it has signed a letter of intent with Petro-Canada Netherlands B.V. (PCNL), for a Single Anchor Loading (SAL) system as export oil tanker mooring and loading system for the Dutch De Ruyter field development.
Revus awarded three licences in APA 2004
08.12.2004
Revus has been awarded three new North Sea licences in the recently announced Awards in Predefined Areas (APA) 2004 licensing round.
APL’s largest contract ever - Alvheim
11.11.2004
On the 11th November 2004, APL signed a contract with Marathon for the turret mooring system for the Alvheim FPSO. This contract will be the largest in APL's history with a contract value in excess of 400 Million NOK.
Revus Energy closes Brage/Murchison transaction
29.10.2004
Revus Energy today announced the final government approval and closing of its acquisition of interests in the producing Brage and Murchison fields.
APL: First oil received at the BZ 25-1 field, Bohai Bay - Peoples Republic of China
30.09.2004
BZ25-1 came on stream successfully ahead of schedule on August 27th. Oil was being exported via the APL SYS (SAL Yoke) system to the FPSO Hai Yang Shi You 113. The BZ25-1 oil field is located in Bohai Bay Block 11/19 in the Peoples Republic of China, approximately 150 km southeast from the port of Tanggu.
APL: First oil received at the CFD 11 field, Bohai Bay - Peoples Republic of China
15.09.2004
CFD 11 came on stream successfully ahead of schedule on July 18th. Oil was being exported via the APL SYS (SAL Yoke) system to the FPSO Hai Yang Shi You 112 – Kerr-McGee Global Producer VIII. The CFD-11 oil field is located in Bohai Bay Block 04/36 in the Peoples Republic of China, approximately 90 km from the port of Tanggu.
APL's STP system selected by Marathon for the Alvheim FPSO
23.08.2004
Advanced Production and Loading AS (APL) today announced that it has signed a letter of intent with Marathon Petroleum Norge AS, a wholly owned subsidiary of Marathon Oil Corporation (NYSE: MRO) for a Submerged Turret Production (STP) system as turret mooring system for the proposed Alvheim FPSO.
12.08.2004
Det nystartede oljeselskapet Revus vil ikke bare være medeier i Nordsjøen - det vil selv operere leting etter olje.
06.08.2004
HOUSTON, TX August 6, 2004 - RigNet announced today that the company has secured $3.75 million in second round financing. The round was closed July 15th 2004.
25.06.2004
Bergesen d.y. ASA has awarded Advanced Production and Loading AS (APL) an EPC contract for the Single Point Mooring (SPM) system to the Chinguetti oil field development located off the coast of Mauritania, North West Africa. APL will supply an External Turret Production system (ETP) for permanent mooring of the floating production, storage and offloading (FPSO) unit Berge Helene.
Revus raising its North Sea game
17.06.2004
Revus Energy is expanding in the North Sea, acquiring stakes in the Murchison field unit which straddles the UK-Norway median line and the Brage field in Norwegian waters.
16.06.2004
Det nyetablerte Stavangerbaserte oljeselskapet Revus kjøper andeler i et produserende oljefelt, og skal lete for å finne mer i samme område.
Scandpower Petroleum Technology Acquires Drillbench
12.06.2004
Stavanger, 10 June 2004: Scandpower Petroleum Technology and Petec Software and Services announce that, as of June 1, 2004, Scandpower PT has acquired the Drillbench software suite for advanced drilling engineering analysis. The associated staff and client portfolio, as well as the Petec brand name, are part of the transaction.
19.12.2003
Advanced Production & Loading (APL) i Arendal er Aust-Agders desidert største gaselle, med en fjorårsomsetning på 440 millioner kroner. Målet er milliardomsetning og børsnotering.
10.12.2003
Venturefondene Energivekst og Energy Ventures kjøper Arendalsbedriften Advanced Production and Loading fra Statoil.
05.12.2003
Statoil selger Arendalsbedriften Advanced Production and Loading (APL) til to investeringsfond og en gruppe av de ansatte. APL-sjefen Carl K. Arnet mener det er en god løsning.
02.12.2003
Flere nykommere får oljelisenser i Nordsjøen i den siste tildelingen fra myndighetene.
28.08.2003
Venturefondet Energivekst kjøper Scandpower Petroleum Technology for rundt 50 millioner kroner.
01.08.2003
Revus Energy er den andre oljeselskapet med hovedkontor i Stavanger, det første var Statoil. Et lite og et stort selskap, men det er nødvendigvis ikke størrelsen det kommer an på.
Lokalt oljeselskap får fordoblet sin kapital
17.06.2003
Revus Energy, det nystartede oljeselskapet i Stavanger, dobler sin kapitalbase ved hjelp av et av Europas fremste venture-selskap.
24.04.2003
With the Norwegian authorities searching for new ways to solve the growing problem of stranded and untapped marginal assets on the NCS, next generation independents such as recently founded Revus Energy, led by former Enterprise Norway general manager Tim Sullivan, are betting on a "tail-end rejuvenation" niche to make a place for themselves in the maturing offshore province.
27.02.2003
Rogaland Kranskole i Gjesdal har undertegnet en kontrakt på en verdi av seks millioner kroner med Hitec O fra Forus.
Hitec O vinner ny kransimulatorkontrakt
25.02.2003
Rogaland Kranskole (R K) har inngått kontrakt med Forus-bedriften Hitec O AS for bygging og leveranse av en fullskala offshore kransimulator.
Arendal - Houston på én dags varsel
24.02.2003
De nølte ikke, de fire arendalsgründerne i Remora Technology da de innså at de måtte til Houston for å selge laste- og losseløsningen sin.
11.02.2003
Det nye oljeselskapet med hovedkontor i Stavanger, Revus Energy, har fått styreformann: Den tidligere sjefen for det engelske oljeselskapet Enterprise sin avdeling i Norge fra 1992 til 1994, dr. Adrew Armour.
Hitec O vinner simulatorkontrakt i Angola
03.02.2003
Hitec O AS har inngått en millionkontrakt for levering av offshorekran-simulator til det statlige oljeselskapet Sonangol i Angola.
Millionkontrakt i Angola for Hitec O på Forus
31.01.2003
Stavanger-selskapet Hitec O skal levere simulatorutstyr for flere millioner til statsoljeselskapet Sonagol i Angola.
27.01.2003
Peter T. Smedvig og Jon Gjedebo går sammen om gigantprosjektet Hinna Park. Til sammen skal det investeres 3 til 4 milliarder i eiendomsprosjektet.
New enterprise takes niche role
04.01.2003
New group Revus aiming to farm-in to Norwegian margianl fields.