Norwegian Energy Company ASA
ISIN: NO0010379266 | Ticker: NOR | LEI: 5967007LIEEXZXGE3C16
Country: Norway
Norwegian Energy Company ASA (Noreco) is a publicly owned company with focus on the oil, gas and offshore industry.
The acquisition of Shell’s upstream assets in the Danish Underground Consortium (DUC) which was completed July 2019 transformed Noreco into the second largest oil and gas producer in Denmark and a significant E&P player. The asset portfolio includes four hubs and 11 producing fields of which three hubs are currently producing and one hub is under redevelopment. The Company has a significant reserves base with net 201 mmboe of 2P reserves and net 200 mmboe of 2C reserves. The DUC is a joint venture between TotalEnergies Denmark A/S (43.2%) as operator, Noreco (36.8%) and Nordsøfonden (20.0%).
2005
Served areaEurope
HeadquartersNedre Vollgate 1, 0158 Oslo – Norway
| Line item in (usd) | 01.01.2020 | 01.01.2021 | 01.01.2022 | 01.01.2023 |
|---|---|---|---|---|
| Assets | N/A | 2,962,000,000.00 | 3,089,900,000.00 | 3,244,000,000.00 |
| Noncurrent Assets | N/A | 2,533,000,000.00 | 2,806,900,000.00 | 2,660,100,000.00 |
| Property Plant And Equipment | N/A | 1,704,000,000.00 | 1,898,700,000.00 | 1,911,900,000.00 |
| Intangible Assets Other Than Goodwill | N/A | 175,000,000.00 | 166,000,000.00 | 160,400,000.00 |
| Noncurrent Receivables | N/A | N/A | 0.00 | 800,000.00 |
| Deferred Tax Assets | N/A | 432,000,000.00 | 526,300,000.00 | 348,800,000.00 |
| Noncurrent Restricted Cash And Cash Equivalents | N/A | 196,000,000.00 | 205,500,000.00 | 203,700,000.00 |
| Noncurrent Derivative Financial Assets | N/A | 26,000,000.00 | 9,700,000.00 | 33,700,000.00 |
| Current Assets | N/A | 429,000,000.00 | 283,000,000.00 | 583,900,000.00 |
| Inventories | N/A | 40,000,000.00 | 51,400,000.00 | 55,900,000.00 |
| Trade And Other Current Receivables | N/A | 81,000,000.00 | 108,900,000.00 | 128,600,000.00 |
| Other Current Financial Assets | N/A | 15,000,000.00 | 0.00 | N/A |
| Cash and cash equivalents | 286,000,000.00 | 259,300,000.00 | 122,600,000.00 | 268,400,000.00 |
| Current Derivative Financial Assets | N/A | 34,000,000.00 | 0.00 | 130,900,000.00 |
| Equity And Liabilities | N/A | 2,962,000,000.00 | 3,089,900,000.00 | 3,244,000,000.00 |
| Equity | 589,000,000.00 | 629,900,000.00 | 492,200,000.00 | 602,500,000.00 |
| Issued Capital | N/A | 30,000,000.00 | 29,500,000.00 | 1,700,000.00 |
| Other Equity Interest | N/A | N/A | 462,700,000.00 | 600,800,000.00 |
| Liabilities | N/A | 2,332,000,000.00 | 2,597,700,000.00 | 2,641,500,000.00 |
| Noncurrent Liabilities | N/A | 1,991,000,000.00 | 2,308,600,000.00 | 2,156,800,000.00 |
| Noncurrent Derivative Financial Liabilities | N/A | 20,000,000.00 | 100,900,000.00 | 90,400,000.00 |
| Other Noncurrent Liabilities | N/A | 26,000,000.00 | 25,400,000.00 | 700,000.00 |
| Current Liabilities | N/A | 341,000,000.00 | 289,100,000.00 | 484,700,000.00 |
| Trade And Other Current Payables | N/A | 286,000,000.00 | 130,500,000.00 | 140,600,000.00 |
| Current Tax Liabilities Current | N/A | 27,000,000.00 | 16,000,000.00 | 209,000,000.00 |
| Current Recognised Liabilities Defined Benefit Plan | N/A | N/A | 26,200,000.00 | 9,800,000.00 |
| Current Derivative Financial Liabilities | N/A | 5,000,000.00 | 116,300,000.00 | 125,300,000.00 |
| Line item in (usd) | 01.01.2020/ 01.01.2021 |
01.01.2021/ 01.01.2022 |
01.01.2022/ 01.01.2023 |
|---|---|---|---|
| Revenue | 566,000,000.00 | 565,300,000.00 | 966,900,000.00 |
| Revenue From Sale Of Oil And Gas Products | 566,000,000.00 | 565,300,000.00 | 966,900,000.00 |
| Employee Benefits Expense | N/A | 11,500,000.00 | 12,500,000.00 |
| Depreciation And Amortisation Expense | 193,000,000.00 | 112,300,000.00 | 133,500,000.00 |
| Other Expense By Nature | N/A | 10,900,000.00 | 19,100,000.00 |
| Profit Loss From Operating Activities | 57,000,000.00 | 137,300,000.00 | 477,700,000.00 |
| Finance Income | 103,000,000.00 | 27,800,000.00 | 58,800,000.00 |
| Finance Costs | 177,000,000.00 | 160,200,000.00 | 287,800,000.00 |
| Profit Loss Before Tax | -18,000,000.00 | 4,900,000.00 | 248,700,000.00 |
| Income Tax Expense Continuing Operations | -35,000,000.00 | 58,100,000.00 | 279,200,000.00 |
| Profit (loss) | 17,000,000.00 | -53,200,000.00 | -30,500,000.00 |
| Line item in (usd) | 01.01.2020 | 01.01.2021 | 01.01.2022 | 01.01.2023 |
|---|---|---|---|---|
| Profit (loss) | N/A | 17,000,000.00 | -53,200,000.00 | -30,500,000.00 |
| Adjustments For Income Tax Expense | N/A | -35,000,000.00 | 58,100,000.00 | 279,200,000.00 |
| Adjustments For Finance Costs | N/A | 75,000,000.00 | 138,000,000.00 | N/A |
| Adjustments For Decrease Increase In Inventories | N/A | 5,000,000.00 | -11,900,000.00 | -4,500,000.00 |
| Adjustments For Increase Decrease In Trade Account Payable | N/A | 79,000,000.00 | -142,000,000.00 | N/A |
| Adjustments For Depreciation And Amortisation Expense | N/A | 193,000,000.00 | 112,000,000.00 | N/A |
| Adjustments For Sharebased Payments | N/A | 2,000,000.00 | 300,000.00 | 1,400,000.00 |
| Other Adjustments To Reconcile Profit Loss | N/A | 0.00 | 0.00 | N/A |
| Income Taxes Paid Refund Classified As Operating Activities | N/A | 0.00 | 10,300,000.00 | 11,600,000.00 |
| Cash Flows From Used In Operating Activities | N/A | 348,000,000.00 | 49,800,000.00 | 561,000,000.00 |
| Other Cash Payments To Acquire Equity Or Debt Instruments Of Other Entities Classified As Investing Activities | N/A | 2,000,000.00 | 0.00 | N/A |
| Purchase Of Property Plant And Equipment Classified As Investing Activities | N/A | 236,000,000.00 | 228,000,000.00 | N/A |
| Purchase Of Intangible Assets Classified As Investing Activities | N/A | 2,000,000.00 | 0.00 | N/A |
| Proceeds From Other Longterm Assets Classified As Investing Activities | N/A | N/A | 0.00 | 300,000.00 |
| Income Taxes Paid Refund Classified As Investing Activities | N/A | 72,000,000.00 | -2,400,000.00 | 0.00 |
| Cash Flows From Used In Investing Activities | N/A | -359,000,000.00 | -246,500,000.00 | -258,200,000.00 |
| Proceeds From Issuing Shares | N/A | N/A | 0.00 | 5,400,000.00 |
| Payments To Acquire Or Redeem Entitys Shares | N/A | 10,000,000.00 | 0.00 | N/A |
| Proceeds From Borrowings Classified As Financing Activities | N/A | 6,000,000.00 | 148,800,000.00 | -100,000,000.00 |
| Payments Of Lease Liabilities Classified As Financing Activities | N/A | 1,000,000.00 | 700,000.00 | 400,000.00 |
| Interest Paid Classified As Financing Activities | N/A | 56,000,000.00 | 82,000,000.00 | 61,600,000.00 |
| Other Inflows Outflows Of Cash Classified As Financing Activities | N/A | -6,000,000.00 | -4,600,000.00 | 200,000.00 |
| Cash Flows From Used In Financing Activities | N/A | -15,000,000.00 | 60,000,000.00 | -157,100,000.00 |
| Increase (decrease) in cash and cash equivalents after effect of exchange rate changes | N/A | -26,000,000.00 | -136,700,000.00 | 145,800,000.00 |
| Cash and cash equivalents | 286,000,000.00 | 259,300,000.00 | 122,600,000.00 | 268,400,000.00 |
Please note that some sums might not add up.
NO0010379266
LEI5967007LIEEXZXGE3C16
SectorOil & Gas Exploration & Production
Listed Stock ExchangeKeep yourself informed with the most recent updates on FinancialReports, IPOs, product advancements, and other significant news.