Fred, Olsen ASA Company News

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Offshore Contractors Primed For a Busy 2020
Wednesday, January 08, 2020 Some industry insiders have doubts about whether there is sufficient contractor capacity to deal with the expected volume of business.

Fred. Olsen Energy Says Lossmaking Contract Levels Persist
Tuesday, February 16, 2016 Global offshore drilling rig rates will remain at lossmaking levels as the market continues to suffer from overcapacity, Norway's Fred. Olsen Energy says after posting a 4Q operating loss.

Norwegian Oil Drillers Call in Mediator after Wage Talks Fail
Friday, May 22, 2015 Wage talks involving thousands of Norwegian offshore oil workers break down, raising the risk of a strike that could disrupt oil exploration and efforts to raise production.

Norway's Fred. Olsen Energy Sees Tough Rig Market Ahead
Tuesday, October 28, 2014 Fred. Olsen Energy says the global rig market will struggle with lower demand and oversupply.

Fred. Olsen Rig Upgrade Delayed, Seen More Expensive
Tuesday, April 22, 2014 Norway's Fred. Olsen Energy says an upgrade on its Blackford Dolphin rig will be more expensive and take longer than previously thought.

Lundin Exercises Optional Wells for Bredford Dolphin
Wednesday, November 30, 2011 Lundin has exercised the option for additional three wells with Fred. Olsen, for use of the semisubmersible drilling unit Bredford Dolphin.

Update on Contractual Dispute for Byford Dolphin
Monday, November 16, 2009 BP and Dolphin Drilling have failed to resolve a contractual dispute regarding the Byford Dolphin semisub, and the contract will now be considered by an English court.

Fred. Olsen Energy Appoints New CEO
Wednesday, August 12, 2009 Mr. Ivar Brandvold has been appointed Chief Executive Officer of Fred. Olsen Energy ASA. He succeeds Mr. Helge Haakonsen who has been the company's CEO since its formation in 1997.

Senergy Contracts Byford Dolphin Semisub for UK North Sea Well
Tuesday, May 19, 2009 Dolphin Drilling has entered into a LOI with Senergy for the provision of the semisubmersible Byford Dolphin for one well in the UK sector in the North Sea.

Dolphin Drilling Finalizes Contract with BP for Byford Dolphin
Tuesday, March 24, 2009 Dolphin Drilling has finalized a three-year contract with BP to operate the Byford Dolphin semisub in the UK sector of the North Sea, resulting in the rig being committed to the first quarter of 2013.

Blackford Dolphin Spuds First Hyedya Well in Ghana
Monday, October 20, 2008 The Blackford Dolphin commenced operations under the contract with Tullow Oil in Ghana on October 10, 2008, and the first well on the Hyedya field has now been spudded.

Byford Dolphin Sails into 3-Year Contract for UK North Sea Ops
Thursday, October 02, 2008 Dolphin Drilling received a Letter of Award for a three-year contract for the semisubmersible drilling rig Byford Dolphin for operations in the UK North Sea.

Blackford Dolphin Takes Charge of Rig
Wednesday, June 25, 2008 Blackford Dolphin has exercised a takeover of the semisubmersible drilling unit Blackford Dolphin at the Keppel Verolme yard in Rotterdam. The remaining part of the work scope will thus be carried out by Blackford Dolphin.

Dolphin's Borgsten Awarded $104 Million Contract
Wednesday, February 27, 2008 The agreement, which remains subject to finalisation of contract terms, is on the basis of direct continuation from the present contract from around August 2008.

Senergy to Contract the Byford Dolphin for 6 Months
Friday, November 02, 2007 Senergy enters LOI for a 6-month contract for the Byford Dolphin semi-submersible drilling rig for operations in the UK North Sea.

Borgholm Dolphin Contracted for US$21 Million
Thursday, November 01, 2007 Dolphin Drilling has entered a preliminary agreement for the provision of the accommodation semi-submersible Borgholm Dolphin for a 65-day contract in the UK sector.

Fred Olsen and KNOC Terminate Drillship Deal
Monday, February 05, 2007 Fred Olsen Energy and KNOC have decided not to pursue the construction of a jointly-owned ultra deepwater drillship.

First Olsen to Spin-off Floating Production
Friday, January 19, 2007 Bonheur ASA and Ganger Rolf ASA on Friday said that the 50/50 owned company First Olsen Ltd. has decided to initiate a process to spin-off and list its floating production activities organized in Fred. Olsen Production AS.

GPS Plans to Join AIM with Float
Monday, January 15, 2007 GPS Group Limited said that it plans to join the AIM market of the London Stock Exchange and raise new funds by way of a proposed placing of new shares.

Bonheur & Ganger Rolf Reduce Stake in Fred. Olsen Energy
Tuesday, November 07, 2006 Bonheur ASA and Ganger Rolf ASA, together majority owners of Fred. Olsen Energy ASA, have each sold 2.5 million shares in FOE at NOK 282 per share after market close yesterday.

Major Stakeholders in Fred. Olsen Energy Consider Share Sale
Monday, November 06, 2006 Bonheur ASA and Ganger Rolf ASA are considering selling in total up to 5.0 million shares in FOE after market close today. ABG Sundal Collier has been retained as manager for the potential secondary sale of shares.

Fred Olsen and KNOC in Deal for Newbuild Drillship
Tuesday, October 31, 2006 Fred Olsen and KNOC have entered into an agreement to jointly own a new-build ultra deepwater drillship.

Fred. Olsen Settles with Statoil
Thursday, August 17, 2006 Dolphin AS, a subsidiary of Fred. Olsen Energy ASA, has entered into a settlement with Statoil ASA regarding a previous drilling contract for the semi submersible drilling rig Byford Dolphin.

Hydro Extends Contract with Bideford Dolphin
Thursday, June 22, 2006 Hydro has signed a letter of intent for a three-year contract with Fred. Olsen Energy ASA for the prolonged use of the drilling rig Bideford Dolphin from January 2008 to January 2011.

Dolphin Drilling to Drill Additional Well for Peak
Thursday, June 08, 2006 Dolphin Drilling has been awarded a thirty-day contract from Peak to drill one well in the UK sector of the North Sea.

Bredford Dolphin Wins More Work in the UK North Sea
Thursday, December 01, 2005 Dolphin Drilling has been awarded a contract for the Bredford Dolphin for an expected three month contract in the UK North Sea.

New contract for Bulford Dolphin
Tuesday, August 23, 2005 Dolphin Drilling Ltd., a subsidiary of Fred. Olsen Energy ASA, has received a Letter of Intent from Equator Exploration Ltd. for a five well drilling programme.

Fred. Olsen Energy Acquires Ocean Liberator
Friday, June 10, 2005 Fred. Olsen Energy has entered into an agreement to purchase the semisubmersible drilling rig Ocean Liberator for a consideration of US $14 million.

Bredford Dolphin Receives LOI for 2-Month Contract
Wednesday, March 16, 2005 Dolphin Drilling has received a Letter of Intent for a one well drilling program in the U.K. sector of the North Sea for the semisub Bredford Dolphin.

Fred Olsen Energy Sells Treasury Shares
Monday, February 28, 2005 Fred. Olsen Energy ASA has sold 2,623,227 shares of its portfolio of treasury shares. The sale was executed by Carnegie ASA after close of business Thursday February 24, 2005.

New Contracts for the Bideford Dolphin & Borgland Dolphin
Monday, October 18, 2004 Fred. Olsen Energy's subsidiary, Dolphin Drilling, has received letters of intent from Norsk Hydro Produksjon a.s and Statoil ASA, respectively, regarding extension of the drilling contracts for the semisubs Bideford Dolphin and Borgland Dolphin.

Borgholm Dolphin to Return to the North Sea
Thursday, June 10, 2004 Upon expiration of the contract in Mexico for Pemex the accommodation unit, Borgholm Dolphin, has commenced demobilization from Mexico to the North Sea.

Bredford Dolphin Lines Up More Work in the Mediterranean
Monday, May 24, 2004 Dolphin Drilling has received letters of intent from three separate companies for Mediterranean work programs with the semisub, Bredford Dolphin.

Agip Extends Bredford Dolphin Contract
Friday, October 24, 2003 Dolphin Drilling has received notification of a contract extension from Agip Gas BV for its semisub, Bredford Dolphin.

Norsk Hydro Gets Okay to Extend Use of Bideford Dolphin
Friday, October 03, 2003 The Norwegian Petroleum Directorate has granted Norsk Hydro an extension of the existing consent for use of Bideford Dolphin on the Troll field.

Possible Contract for Belford Dolphin Offshore India
Tuesday, July 29, 2003 Fred Olsen Energy is awaiting formal notification of a contract award for the Belford Dolphin to work offshore India for the next three years.

Fred Olsen Energy to Sell Floating Production Division
Monday, July 14, 2003 Fred. Olsen Energy ASA has signed a Heads of Agreement regarding sale of its business activities within the floating production segment.

Fred Olsen Energy Sells Well Services Unit
Wednesday, July 09, 2003 Dolphin AS is in the final phase of negotiating a sale of all of its shares and connected interests in the wholly owned subsidiary Dolphin Well Services AS.

Statoil Finds Only Small Amounts of Gas on Verdandi Prospect
Monday, June 30, 2003 Statoil reports that only small amounts of natural gas were on its Verdandi prospect offshore Norway.

Addax Extends Contract for Knock Taggart FPSO
Wednesday, June 04, 2003 Addax Petroleum has elected to exercise the option to extend the present contract for the FPSO Knock Taggart by 2 years

Fred Olsen Energy Sells Borgila Dolphin
Thursday, May 15, 2003 Fred. Olsen Drilling, subsidiary of Fred. Olsen Energy ASA, has entered into an agreement for the sale of the support rig Borgila Dolphin to an undisclosed buyer.

Borgholm Dolphin Wins Contract Extension
Tuesday, April 15, 2003 The accommodation rig Borgholm Dolphin has been awarded a contract in Mexico from Pemex.