Updated: Faroe Petroleum concedes defeat in takeover battle with DNO
Faroe Petroleum's board has conceded defeat in its fight against a takeover bid by Norwegian oil explorer DNO.
Faroe Petroleum
DNO makes ‘final offer’ to take over Faroe Petroleum
Norwegian oil explorer DNO has increased its offer to acquire Aberdeen-based Faroe Petroleum, as its pursuit of the North Sea firm continues.
Updated: DNO not accepting defeat in Faroe takeover bid
Bosses at DNO have warned they will “not go away” after falling short with their hostile takeover offer for Aberdeen-headquartered oil firm Faroe Petroleum.
Latest: Faroe lambasts DNO for ‘puzzling attacks’ on exploration record
Bosses at Faroe Petroleum have condemned DNO for repeatedly attacking its exploration track record.
DNO extends Faroe takeover offer after missing target
Norwegian firm DNO has given Faroe Petroleum shareholders another two weeks to accept its takeover offer after falling short of its target.
Faroe’s defences ‘exhausted’ after exploration failure, DNO says
Bosses at DNO have picked apart a report indicating its takeover bid for Faroe Petroleum was too low.
Independent valuation shows DNO offer ‘inadequate’, Faroe says
Faroe Petroleum said today that a fresh evaluation of its portfolio highlighted the "inadequacy" of DNO's takeover bid for the firm.
More exploration well disappointment for Faroe, but sidetrack shows promise
Faroe Petroleum revealed today that its Brasse East exploration well in the Norwegian North Sea had not hit oil.
Faroe orders ‘independent valuation’ after latest DNO jibe
Bosses at Faroe Petroleum have ordered an independent valuation of the oil firm's assets as they seek to fend off a hostile takeover attempt.
Disappointment at Cassidy exploration well for Spirit and Faroe
Aberdeen-headquartered Faroe Petroleum has announced the Cassidy exploration well has come up with disappointing results.
Faroe boss says DNO ‘not offering the right price’ on hostile takeover bid
Faroe Petroleum’s chief executive has hit out at DNO’s hostile takeover bid, saying the Norwegian firm is “not offering the right price”.
Faroe tables decom plans for North Sea gas fields
Faroe Petroleum has tabled draft plans to the UK Government for decommissioning the Ketch and Schooner gas fields in the southern North Sea.
Faroe says DNO criticism a tactical ploy to distract from lowball offer
Faroe Petroleum bosses said today that criticism aimed at them by DNO was a “tactic” to draw attention away from the Norwegian firm’s low takeover offer.
Updated: DNO calls Faroe offer ‘rare opportunity to exit illiquid’ company
Norwegian firm DNO has taken yet another dig at the Aberdeen oil firm it is trying to acquire.
DNO questions wisdom of Faroe’s swap deal with Equinor
A Norwegian oil firm has raised concerns about an asset swap deal agreed by the Aberdeen company it is attempting to take over.
Updated: Equinor, Faroe rebalance portfolios with asset swap
Energy giant Equinor and Aberdeen-headquartered Faroe Petroleum have agreed to swap stakes several oil fields in Norway.
Faroe urges shareholders to snub ‘opportunistic’ DNO bid
Bosses at Faroe Petroleum urged investors to snub a hostile takeover offer from Norwegian oil firm DNO and hold onto their shares.
Fund manager ‘deeply unhappy’ with DNO’s bid for Faroe
A top fund manager has taken a swipe at Norwegian oil firm DNO for its £444 million proposal to buy out Faroe Petroleum.
DNO bid for Faroe ‘opportunistic’ and ‘too low’, analysts say
Norwegian firm DNO's £444 million takeover bid for Aberdeen-headquartered Faroe Petroleum is "clearly a low-ball offer", analysts have said.
Updated: Faroe shares soar as DNO launches hostile takeover bid
Norwegian oil firm DNO said today that it would make an offer to buy the remaining shares in Aberdeen-headquartered Faroe Petroleum.
Faroe spuds Brasse East exploration well
Aberdeen-headquartered Faroe Petroleum has started drilling the Brasse East exploration well off the coast of Norway.
Update: Rungne well a ‘disappointment’ for Faroe Petroleum
Aberdeen-headquartered oil firm Faroe Petroleum suffered disappointment with its latest exploration well in Norway.
Faroe adds £78m to lending facility to bolster growth plans
Oil firm Faroe Petroleum has increased its reserve based lending (RBL) facility by £78 million to bolster its growth plans.
Faroe gets go-ahead to drill Brasse East
Aberdeen-headquartered Faroe Petroleum has been given consent to drill the Brasse East well off the coast of Norway.
Faroe to ‘keep drilling’ as acquisitions prove elusive in ‘tricky’ market
Faroe Petroleum’s existing portfolio can deliver the oil firm’s medium-term growth targets, as acquisitions prove to be elusive, its boss said yesterday.