NEWS
Afren PLC Company News
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Perenco Eyes Controlling Stake in Ivory Coast Well
The investment would boost Ivory Coast's ambition to develop its extractive industries.
7:00 PM EST | November 16, 2020
Former Afren Execs Get as Much as Six Years in Prison
A UK court sentenced the top two executives at Afren to as much as six years in prison.
8:00 PM EST | October 28, 2018
Afren Execs Guilty of Scheme to Replace Lost Salary
The top two executives at Afren were found guilty of what prosecutors called an elaborate scheme to boost their annual compensation.
8:00 PM EST | October 23, 2018
Lekoil Acquires Afren's Stake in the Ogo Field Offshore Nigeria
Lekoil agrees to buy Afren's entire 22.8-percent stake in Nigeria's OIL 310 license, which contains the Ogo offshore discovery.
7:00 PM EST | November 30, 2015
Oil Producer Afren's Board to Put Company into Administration
Africa-focused independent producer Afren's board decide to put the company into administration after failing to secure support for a restructuring plan.
8:00 PM EST | July 30, 2015
Afren Requests Suspension of Shares
Afren requests the suspension of trading in its shares, as it is currently unable to accurately assess its financial position.
8:00 PM EST | July 14, 2015
Afren to Receive $93 Million Cash Boost Following Revenue Decrease
Afren announces that it will receive an extra $93 million in net cash proceeds, following a difficult financial year.
8:00 PM EST | May 28, 2015
Afren Announces Non-Executive Director Resignations
Afren reveals Peter Bingham and John St John will resign as non-executive directors.
8:00 PM EST | May 17, 2015
Afren Board Agrees on New CEO
Afren's board agrees in principle to appoint Alan Linn as the firm's new chief executive.
8:00 PM EST | April 06, 2015
Oil Producer Afren Defaults on 2016 Bonds
Africa-focused oil producer Afren defaults on its 2016 bonds after declining to make a $15-million interest payment.
7:00 PM EST | March 03, 2015
Taipan Seeks at Least $10M Damages from Afren Over Kenya Project
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.
7:00 PM EST | February 08, 2015
Oil Producer Afren Shares Slump Amid Warning Of Imminent Default
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.
7:00 PM EST | January 26, 2015
Afren Says No Proven Or Probable Reserves At Iraqi Kurdistan Oilfield
Afren reports that there are no proven or probable reserves at its Barda Rash oilfield in Iraqi Kurdistan.
7:00 PM EST | January 11, 2015
Oil Producer Afren Settles Claims Against Former CEO, COO
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.
7:00 PM EST | January 01, 2015
Afren Gets Preliminary Approach from Nigeria's Seplat
Africa-focused Afren receives a preliminary takeover approach from Nigerian oil and gas explorer Seplat Petroleum Development Company.
7:00 PM EST | December 21, 2014
Afren Evaluating Restatement of Accounts; Output Falls
Independent oil firm Afren is looking at restating its historic financial information after the completion of an independent accounting review of unauthorized payments.
8:00 PM EST | October 29, 2014
Oil Producer Afren Fires CEO, 3 Other Execs In Scandal
Afren sacks its chief executive, chief operating officer and two associate directors after an independent review into unauthorized payments found evidence of "gross misconduct".
8:00 PM EST | October 13, 2014
Afren Shares Drop after Kurdistan Shutdown Prompts Production Forecast Cut
Independent explorer Afren slashes its full-year production forecast by 20 percent following shutdown of its Kurdistan operations.
8:00 PM EST | August 28, 2014
Oil Explorer Afren Suspends CEO, COO Pending Investigation
Independent explorer Afren temporarily suspends its CEO and COO pending an investigation into unauthorized payments.
8:00 PM EST | July 30, 2014
Oil Producer Afren's 1Q Output Below Target
Afren reports 1Q net production of 35,465 barrels of oil per day - lower than its target of 40,000 bopd.
8:00 PM EST | May 19, 2014
Afren to Deliver Strong Results for 2013, Driven by Nigeria
Independent producer Afren expects to deliver record results for 2013, driven by strong production offshore Nigeria.
7:00 PM EST | January 27, 2014
Lekoil Raises Funds for Nigerian Asset Development
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.
8:00 PM EST | October 31, 2013
Seychelles, Mauritius Plan Joint Offshore Oil, Gas Exploration
Indian Ocean islands of Seychelles and Mauritius plan to jointly explore for petroleum in shared area.
8:00 PM EST | August 18, 2013
OPD Hits Pay at Ogo Offshore Nigeria
Afren reports that the Ogo discovery tested a four-way dip-closed structure in the Turonian, Cenomanian, and Albian sandstone reservoirs.
8:00 PM EST | June 25, 2013
Lekoil Farms into OPL 310
Afren and Lekoil have completed a farm-out agreement for OPL 310 license situated offshore Nigeria.
8:00 PM EST | May 13, 2013
Afren Commences Production at Okoro East
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.
7:00 PM EST | November 12, 2012
African Successes for Afren and Tullow
Afren begins production at the Okoro field extension in Nigeria, while Tullow finds oil at Kenyan well.
8:00 PM EST | October 30, 2012
Africa Oil Completes Ethiopia Farm-Out Agreement
Africa Oil Corp. has completed its previously announced farmout agreement with New Age (African Global Energy) Limited.
8:00 PM EST | October 25, 2012
Drilling Commenced at Afren's East Simrit Prospect
Afren announces that exploration drilling has commenced at the East Simrit prospect located on the Ain Sifni PSC in the Kurdistan region of Iraq.
8:00 PM EST | September 11, 2012
Afren Fully Funded for East African Expansion
Barclays Capital says that second quarter results from Afren show it has the funds to expand in East Africa.
8:00 PM EST | August 21, 2012
Afren's Kurdish Well Finds More Oil
Testing yields an aggregate flow rate of 13,584 barrels of oil per day.
8:00 PM EST | July 18, 2012
Afren Strikes Oil at Ebok Well
Afren plc announced that the Ebok North Fault Block exploration well has encountered net oil pay in excellent quality reservoir sands.
8:00 PM EST | May 16, 2012
Nunya-1x Well Disappoints Offshore Ghana
Afren plc announced that the Nunya-1x exploration well in the Keta block offshore Ghana has encountered thick and high quality water bearing reservoirs.
8:00 PM EST | April 24, 2012
Afren Touts Oil Discovery in Kurdistan
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.
8:00 PM EST | April 16, 2012
Afren Kicks Off Seismic Work at Kenya Block
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.
8:00 PM EST | March 11, 2012
Afren Confirms High Quality Oil at Okoro East
Afren's test results confirm that high-quality 38 to 40-degree API oil exists "excellent" reservoir sands.
7:00 PM EST | March 06, 2012
Afren to Have Further Access to Deals in Nigeria, say Analysts
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".
7:00 PM EST | January 24, 2012
After Boosting Production in 2011, Afren Plans to Reduce Capex
Afren almost doubled its reserves last year, and still plans a high-impact drilling campaign in spite of reducing capex.
7:00 PM EST | January 22, 2012
Analysts Welcome Afren's Success at Okoro East
Afren has discovered 549 feet of net oil pay and 41 feet of net gas pay at the Nigerian exploration well.
7:00 PM EST | January 16, 2012
Afren Increases Stake in Madagascar Block
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.
8:00 PM EST | July 24, 2011
Afren Welcomes New Technical Management Appointments
Afren announced the appointment of a new Exploration Director and five senior appointments in Production Operations.
8:00 PM EST | March 27, 2011
Afren Acquires Stake in Tanga Block
Afren announced the acquisition of a 74 percent operated working interest in the Tanga Block, located onshore and offshore Tanzania, from Petrodel.
8:00 PM EST | March 23, 2011
Afren's Executive Director to Step Down
Afren announced that Constantine Ogunbiyi is to step down as Executive Director with effect from the January 4, 2011.
7:00 PM EST | December 29, 2010
Afren Reports Ebok Well to Exceed 15000 bopd in Phase I
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.
7:00 PM EST | December 22, 2010
Afren Deems Okwok Field 'Commercially Viable' Offshore Nigeria
Afren updated on post completion of the Okwok-9 appraisal well, drilled at the Okwok field offshore south east Nigeria.
7:00 PM EST | November 23, 2010
Militants Board Rig Operated by Afren
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.
7:00 PM EST | November 07, 2010
Afren Nigeria Buys Stake in Delta Oil Fields from Majors
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.
8:00 PM EST | October 20, 2010
Veer Prem MOPU Sets Sail for Ebok Field
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.
8:00 PM EST | October 19, 2010
Afren Finalizes Black Marlin Acquisition
Afren announced that the Scheme of Arrangement relating to the Acquisition of Black Marlin by Afren received BVI court approval.
8:00 PM EST | October 07, 2010
Afren, Oriental Energy Name Ebok Field FSO
Afren its partner Oriental Energy, announced the Naming and Sail Away Ceremony for the Virini Prem FSO at the Yulian shipyard in China.
8:00 PM EST | August 04, 2010