Afren PLC Company News

Recent Articles

Results 50 articles shown

Former Afren Execs Get as Much as Six Years in Prison
Monday, October 29, 2018 A UK court sentenced the top two executives at Afren to as much as six years in prison.

Afren Execs Guilty of Scheme to Replace Lost Salary
Wednesday, October 24, 2018 The top two executives at Afren were found guilty of what prosecutors called an elaborate scheme to boost their annual compensation.

Lekoil Acquires Afren's Stake in the Ogo Field Offshore Nigeria
Tuesday, December 01, 2015 Lekoil agrees to buy Afren's entire 22.8-percent stake in Nigeria's OIL 310 license, which contains the Ogo offshore discovery.

Oil Producer Afren's Board to Put Company into Administration
Friday, July 31, 2015 Africa-focused independent producer Afren's board decide to put the company into administration after failing to secure support for a restructuring plan.

Afren Requests Suspension of Shares
Wednesday, July 15, 2015 Afren requests the suspension of trading in its shares, as it is currently unable to accurately assess its financial position.

Afren to Receive $93 Million Cash Boost Following Revenue Decrease
Friday, May 29, 2015 Afren announces that it will receive an extra $93 million in net cash proceeds, following a difficult financial year.

Afren Announces Non-Executive Director Resignations
Monday, May 18, 2015 Afren reveals Peter Bingham and John St John will resign as non-executive directors.

Afren Board Agrees on New CEO
Tuesday, April 07, 2015 Afren's board agrees in principle to appoint Alan Linn as the firm's new chief executive.

Oil Producer Afren Defaults on 2016 Bonds
Wednesday, March 04, 2015 Africa-focused oil producer Afren defaults on its 2016 bonds after declining to make a $15-million interest payment.

Taipan Seeks at Least $10M Damages from Afren Over Kenya Project
Monday, February 09, 2015 Africa-focused oil explorer Taipan Resources is seeking at least $10 million in damages from EAX, its partner in a Kenyan oil field and a subsidiary of London-listed oil firm Afren.

Oil Producer Afren Shares Slump Amid Warning Of Imminent Default
Tuesday, January 27, 2015 Afren's shares tumble 72% after it said it had entered talks with its largest bondholders over immediate fund shortages, prompting dent ratings agency Fitch to warn of its imminent default.

Afren Says No Proven Or Probable Reserves At Iraqi Kurdistan Oilfield
Monday, January 12, 2015 Afren reports that there are no proven or probable reserves at its Barda Rash oilfield in Iraqi Kurdistan.

Oil Producer Afren Settles Claims Against Former CEO, COO
Friday, January 02, 2015 Afren says it had secured $17.1 million from its former chief executive and chief operating officer in relation to unauthorized payments that caused a scandal last year.

Afren Gets Preliminary Approach from Nigeria's Seplat
Monday, December 22, 2014 Africa-focused Afren receives a preliminary takeover approach from Nigerian oil and gas explorer Seplat Petroleum Development Company.

Afren Evaluating Restatement of Accounts; Output Falls
Thursday, October 30, 2014 Independent oil firm Afren is looking at restating its historic financial information after the completion of an independent accounting review of unauthorized payments.

Oil Producer Afren Fires CEO, 3 Other Execs In Scandal
Tuesday, October 14, 2014 Afren sacks its chief executive, chief operating officer and two associate directors after an independent review into unauthorized payments found evidence of "gross misconduct".

Afren Shares Drop after Kurdistan Shutdown Prompts Production Forecast Cut
Friday, August 29, 2014 Independent explorer Afren slashes its full-year production forecast by 20 percent following shutdown of its Kurdistan operations.

Oil Explorer Afren Suspends CEO, COO Pending Investigation
Thursday, July 31, 2014 Independent explorer Afren temporarily suspends its CEO and COO pending an investigation into unauthorized payments.

Oil Producer Afren's 1Q Output Below Target
Tuesday, May 20, 2014 Afren reports 1Q net production of 35,465 barrels of oil per day - lower than its target of 40,000 bopd.

Afren to Deliver Strong Results for 2013, Driven by Nigeria
Tuesday, January 28, 2014 Independent producer Afren expects to deliver record results for 2013, driven by strong production offshore Nigeria.

Lekoil Raises Funds for Nigerian Asset Development
Friday, November 01, 2013 West Africa-focused Lekoil raises $100 million to fund the completion of drilling and testing at its Ogo-1 well and sidetrack, as well as develop the nearby OML 113 license.

Seychelles, Mauritius Plan Joint Offshore Oil, Gas Exploration
Monday, August 19, 2013 Indian Ocean islands of Seychelles and Mauritius plan to jointly explore for petroleum in shared area.

OPD Hits Pay at Ogo Offshore Nigeria
Wednesday, June 26, 2013 Afren reports that the Ogo discovery tested a four-way dip-closed structure in the Turonian, Cenomanian, and Albian sandstone reservoirs.

Lekoil Farms into OPL 310
Tuesday, May 14, 2013 Afren and Lekoil have completed a farm-out agreement for OPL 310 license situated offshore Nigeria.

Afren Commences Production at Okoro East
Tuesday, November 13, 2012 The Okoro field extension is producing at a stabilized rate of 5,000 bopd, increasing the Okoro field's total output to approx. 21,500 bopd.

African Successes for Afren and Tullow
Wednesday, October 31, 2012 Afren begins production at the Okoro field extension in Nigeria, while Tullow finds oil at Kenyan well.

Africa Oil Completes Ethiopia Farm-Out Agreement
Friday, October 26, 2012 Africa Oil Corp. has completed its previously announced farmout agreement with New Age (African Global Energy) Limited.

Drilling Commenced at Afren's East Simrit Prospect
Wednesday, September 12, 2012 Afren announces that exploration drilling has commenced at the East Simrit prospect located on the Ain Sifni PSC in the Kurdistan region of Iraq.

Afren Fully Funded for East African Expansion
Wednesday, August 22, 2012 Barclays Capital says that second quarter results from Afren show it has the funds to expand in East Africa.

Afren's Kurdish Well Finds More Oil
Thursday, July 19, 2012 Testing yields an aggregate flow rate of 13,584 barrels of oil per day.

Afren Strikes Oil at Ebok Well
Thursday, May 17, 2012 Afren plc announced that the Ebok North Fault Block exploration well has encountered net oil pay in excellent quality reservoir sands.

Nunya-1x Well Disappoints Offshore Ghana
Wednesday, April 25, 2012 Afren plc announced that the Nunya-1x exploration well in the Keta block offshore Ghana has encountered thick and high quality water bearing reservoirs.

Afren Touts Oil Discovery in Kurdistan
Tuesday, April 17, 2012 Afren plc announced that the high impact Simrit-2 exploration well has discovered a significant oil accumulation based on the results of drilling, wireline logs and sidewall core sampling.

Afren Kicks Off Seismic Work at Kenya Block
Monday, March 12, 2012 Lion Petroleum Corp. announced that its partner Afren plc has started the acquisition of 1,118 miles (1800 kilometers) of 2D seismic in Block 1, north-eastern Kenya.

Afren Confirms High Quality Oil at Okoro East
Wednesday, March 07, 2012 Afren's test results confirm that high-quality 38 to 40-degree API oil exists "excellent" reservoir sands.

Afren to Have Further Access to Deals in Nigeria, say Analysts
Wednesday, January 25, 2012 Analysts report after meeting Afren in London that the firm's positioning as a vehicle to access a rich pickings in Nigeria "has been its distinguishing feature".

After Boosting Production in 2011, Afren Plans to Reduce Capex
Monday, January 23, 2012 Afren almost doubled its reserves last year, and still plans a high-impact drilling campaign in spite of reducing capex.

Analysts Welcome Afren's Success at Okoro East
Tuesday, January 17, 2012 Afren has discovered 549 feet of net oil pay and 41 feet of net gas pay at the Nigerian exploration well.

Afren Increases Stake in Madagascar Block
Monday, July 25, 2011 Afren announced that Government approvals have been received for Afren to assume operatorship and increase its interest in Block 1101, onshore Madagascar, to 90 percent.

Afren Welcomes New Technical Management Appointments
Monday, March 28, 2011 Afren announced the appointment of a new Exploration Director and five senior appointments in Production Operations.

Afren Acquires Stake in Tanga Block
Thursday, March 24, 2011 Afren announced the acquisition of a 74 percent operated working interest in the Tanga Block, located onshore and offshore Tanzania, from Petrodel.

Afren's Executive Director to Step Down
Thursday, December 30, 2010 Afren announced that Constantine Ogunbiyi is to step down as Executive Director with effect from the January 4, 2011.

Afren Reports Ebok Well to Exceed 15000 bopd in Phase I
Thursday, December 23, 2010 Afren reported that test data from Ebok field confirms initial Phase 1 production to exceed 15,000 bopd, with more than 35,000 bopd from Phases 1 and 2 anticipated by the end of 2Q11.

Afren Deems Okwok Field 'Commercially Viable' Offshore Nigeria
Wednesday, November 24, 2010 Afren updated on post completion of the Okwok-9 appraisal well, drilled at the Okwok field offshore south east Nigeria.

Militants Board Rig Operated by Afren
Monday, November 08, 2010 A security breach has occurred on the GSF High Island VII jackup rig, which had recently arrived on location, preparing to commence infill drilling at the Okoro field.

Afren Nigeria Buys Stake in Delta Oil Fields from Majors
Thursday, October 21, 2010 First Hydrocarbon Nigeria ("FHN") has announced the reaching of Definitive Agreements with Shell, Total and NAOC for the acquisition of OML 26, Delta State onshore Nigeria.

Veer Prem MOPU Sets Sail for Ebok Field
Wednesday, October 20, 2010 Afren and Oriental announced that the Veer Prem MOPU has left the Gulf Cooper yard and is en route to the Ebok field, offshore Nigeria.

Afren Finalizes Black Marlin Acquisition
Friday, October 08, 2010 Afren announced that the Scheme of Arrangement relating to the Acquisition of Black Marlin by Afren received BVI court approval.

Afren, Oriental Energy Name Ebok Field FSO
Thursday, August 05, 2010 Afren its partner Oriental Energy, announced the Naming and Sail Away Ceremony for the Virini Prem FSO at the Yulian shipyard in China.

Afren to Acquire Black Marlin Energy
Wednesday, June 02, 2010 Afren has reached an agreement with Black Marlin Energy to acquire all of the issued and to be issued share capital of Black Marlin.