Connection

popular articles

Norway could break its natural gas export record in 2024
BP Announces Closure of Its Kwinana Refinery in Australia and Shifts Focus Toward Clean Energy
Boralex commissions its first 106 MW wind farm in Scotland
Centrus Energy obtains waiver to import Russian uranium
Saudi Arabia: partnership to launch onshore wind projects

Awilco Drilling PLC detaches a special dividend of USD 2.06 per share

Offshore oil group Awilco Drilling PLC enters ex-dividend period on 1 April, marking the detachment of a USD 2.06 per share payment, amid significant cash returns to shareholders.

Please share:

Awilco Drilling PLC, listed on the Oslo Stock Exchange under the ticker AWDR, announced that its shares will be traded ex-dividend from 1 April. The special dividend amounts to USD 2.06 per share, marking a notable distribution move by the offshore oil exploration and production group. The decision is part of a capital return programme to shareholders, supported by liquidity resulting from recent asset sales.

Headquartered in the United Kingdom, Awilco Drilling PLC operates semi-submersible drilling rigs in the North Sea. In recent years, the company has scaled down its operational activities, progressively divesting its drilling units. The dividend detachment reflects the current strategy of capital value realisation for shareholders, in a context where no new industrial projects have been initiated.

Capital return driven by surplus cash

The level of the distributed dividend follows the financial policy adopted by the board of directors since 2023. The company, now without active drilling operations, has chosen to redistribute its cash reserves rather than reinvest them. The transaction complies with the procedures of the Norwegian market, and shareholders registered before 1 April will receive the stated amount.

Awilco Drilling PLC has not announced a schedule for any future similar payments. The absence of investment or growth projects suggests that further capital returns could be considered, although no official statement has been made. The company remains listed on Oslo’s regulated market with low trading liquidity.

Listed status maintained despite operational inactivity

Since 2020, Awilco Drilling has initiated a transformation of its business model in response to structural challenges in the offshore drilling sector. The shift towards a residual asset management company has translated into a gradual withdrawal from the oil sector.

The dividend distribution, made possible by the sale of its rigs, marks a significant step in this repositioning. Despite the lack of operations, maintaining the listing allows the company to retain some visibility on financial markets, while remaining free to adjust its strategy as its portfolio evolves.

Register free of charge for uninterrupted access.

Publicite

Latest news

Trinasolar ISBU secures 30 MW solar deal with Equinix in Japan
Nigeria:Tinubu reshuffles NNPC leadership to revive oil production
Finland: Helen ends coal use with closure of Salmisaari power plant
TerraForm Power settles $34.5mn lawsuit with former executive after nine-year litigation
The European Union must invest €1.871 trillion to modernise its power grids by 2050

Recently published in

Nigeria:Tinubu reshuffles NNPC leadership to revive oil production

The Nigerian president has replaced the leadership of the Nigerian National Petroleum Company amid declining output and eroding investor confidence.
Sinopec reveals 140 mn tonnes of proven shale oil reserves at Shengli
Sinopec has identified over 140 mn tonnes of proven reserves in the Jiyang Basin, marking the largest certified shale oil discovery in China.
en_1140290961540
Sinopec reveals 140 mn tonnes of proven shale oil reserves at Shengli
Sinopec has identified over 140 mn tonnes of proven reserves in the Jiyang Basin, marking the largest certified shale oil discovery in China.
en_1140290961540
Boaz Energy divests Texan assets to T2S Permian Acquisition in strategic restructuring
Boaz Energy II has completed the sale of its oil properties and trust units to T2S Permian Acquisition II, refocusing its operations while maintaining administrative continuity of the PermRock Royalty Trust.
en_1140290947540
Boaz Energy divests Texan assets to T2S Permian Acquisition in strategic restructuring
Boaz Energy II has completed the sale of its oil properties and trust units to T2S Permian Acquisition II, refocusing its operations while maintaining administrative continuity of the PermRock Royalty Trust.
en_1140290947540
Uganda finalizes historic agreement to build Hoima oil refinery
After several years of negotiations, Uganda officially signs an agreement to establish the Hoima oil refinery, a central project in the country's energy strategy aimed at reducing dependency on fuel imports.
en_1140290961540-17
Uganda finalizes historic agreement to build Hoima oil refinery
After several years of negotiations, Uganda officially signs an agreement to establish the Hoima oil refinery, a central project in the country's energy strategy aimed at reducing dependency on fuel imports.
en_1140290961540-17

Nigerian oil giant NNPC prepares imminent stock market debut

The Nigerian national oil company, NNPC, is finalizing the last steps toward its highly anticipated stock market listing, mobilizing investors and financial institutions for what promises to be a pivotal moment in Africa’s energy market.
Repsol seeks to maintain operations in Venezuela despite US licence revocation
Repsol’s Chief Executive said the company is exploring options with US authorities to remain active in Venezuela following Washington’s decision to end sanctions waivers.
en_1140290947540-22
Repsol seeks to maintain operations in Venezuela despite US licence revocation
Repsol’s Chief Executive said the company is exploring options with US authorities to remain active in Venezuela following Washington’s decision to end sanctions waivers.
en_1140290947540-22
CNOOC identifies 100-million-ton oilfield in the South China Sea
CNOOC Limited has announced the discovery of the Huizhou 19-6 oilfield in the eastern South China Sea, with proven reserves exceeding 100 million tonnes of oil equivalent.
en_1140290962540-10
CNOOC identifies 100-million-ton oilfield in the South China Sea
CNOOC Limited has announced the discovery of the Huizhou 19-6 oilfield in the eastern South China Sea, with proven reserves exceeding 100 million tonnes of oil equivalent.
en_1140290962540-10
PetroChina reaches new milestone in 2024 with net profit of $22.7 billion
PetroChina posts record net profit in 2024, driven by rising oil and gas volumes and expanded refining and distribution operations.
en_1140290957540-21
PetroChina reaches new milestone in 2024 with net profit of $22.7 billion
PetroChina posts record net profit in 2024, driven by rising oil and gas volumes and expanded refining and distribution operations.
en_1140290957540-21

EACOP completes initial funding round despite mounting pressure in Uganda

EACOP has confirmed the closure of an initial tranche of external financing for its 1,443 km pipeline, as several NGOs urge participating banks to withdraw from the project.
CNOOC Limited posts 11.4% rise in net profit for 2024
Chinese oil group CNOOC Limited reported higher net profit for 2024, driven by growing reserves, record production and strict cost discipline.
en_1140290954540-20
CNOOC Limited posts 11.4% rise in net profit for 2024
Chinese oil group CNOOC Limited reported higher net profit for 2024, driven by growing reserves, record production and strict cost discipline.
en_1140290954540-20
US oil inventories drop by 3.3 million barrels against expectations
The US Energy Information Administration reported an unexpected decline in crude oil inventories, reversing analysts' forecasts of an increase, with immediate effects on crude prices.
en_1140290963540-4
US oil inventories drop by 3.3 million barrels against expectations
The US Energy Information Administration reported an unexpected decline in crude oil inventories, reversing analysts' forecasts of an increase, with immediate effects on crude prices.
en_1140290963540-4
Iraq Targets Africa After U.S. Ends Waivers on Iranian Energy
Cut off from Iranian energy imports by Washington, Iraq accelerates commercial efforts in Africa while resuming oil exports through Turkey to quickly secure new economic and energy markets.
en_1140290944540-21
Iraq Targets Africa After U.S. Ends Waivers on Iranian Energy
Cut off from Iranian energy imports by Washington, Iraq accelerates commercial efforts in Africa while resuming oil exports through Turkey to quickly secure new economic and energy markets.
en_1140290944540-21

Drydocks World secures contract to upgrade Baobab MV10 offshore platform

Drydocks World has secured a contract to extend the operational life of the Baobab MV10 offshore platform in Côte d’Ivoire by 15 years through refurbishment and upgrade works.
Canada: Mark Carney Relaunches Arctic Pipelines to Capture European Market
Amid trade tensions with the United States, Canadian Prime Minister Mark Carney is reviving pipeline projects toward the Arctic to directly access European and Asian markets, diversifying Canada's oil exports.
en_1140290957540-18
Canada: Mark Carney Relaunches Arctic Pipelines to Capture European Market
Amid trade tensions with the United States, Canadian Prime Minister Mark Carney is reviving pipeline projects toward the Arctic to directly access European and Asian markets, diversifying Canada's oil exports.
en_1140290957540-18
The UK could produce 50% of its oil and gas domestically
According to Offshore Energies UK, Britain's oil and gas potential in the North Sea is limited by a tax regime that hinders investments needed to boost national production, increasing dependency on imports.
en_1140290960540-17
The UK could produce 50% of its oil and gas domestically
According to Offshore Energies UK, Britain's oil and gas potential in the North Sea is limited by a tax regime that hinders investments needed to boost national production, increasing dependency on imports.
en_1140290960540-17
Washington grants Chevron reprieve in Venezuela despite Trump’s tariff warning
US authorities have extended Chevron’s temporary licence to operate in Venezuela until 27 May, despite Donald Trump’s warnings of tariffs on imports from countries trading with Caracas.
en_1140290950540-17
Washington grants Chevron reprieve in Venezuela despite Trump’s tariff warning
US authorities have extended Chevron’s temporary licence to operate in Venezuela until 27 May, despite Donald Trump’s warnings of tariffs on imports from countries trading with Caracas.
en_1140290950540-17

TotalEnergies sues Yannick Jadot for defamation over accusations linked to Russian operations

Senator Yannick Jadot appears in court in Paris for defamation after accusing TotalEnergies of being “an accomplice to war crimes” due to its presence in Russia in 2022.
Shell commits major investment in Gato do Mato oil field off Brazil
Shell Brasil approves the offshore Gato do Mato project development, targeting production of 120,000 barrels per day by 2029, further consolidating its position as Brazil’s leading foreign oil producer.
en_1140290953540-16
Shell commits major investment in Gato do Mato oil field off Brazil
Shell Brasil approves the offshore Gato do Mato project development, targeting production of 120,000 barrels per day by 2029, further consolidating its position as Brazil’s leading foreign oil producer.
en_1140290953540-16
Equatorial Guinea raises fuel prices by up to 35% to ease budgetary pressure
The Equatoguinean government has announced an immediate increase in fuel prices, citing outdated tariffs and budget constraints driven by a prolonged decline in oil exports.
en_1140290950540-16
Equatorial Guinea raises fuel prices by up to 35% to ease budgetary pressure
The Equatoguinean government has announced an immediate increase in fuel prices, citing outdated tariffs and budget constraints driven by a prolonged decline in oil exports.
en_1140290950540-16
South Africa strengthens its strategy to accelerate oil and gas development
The South African government is intensifying efforts to exploit its vast oil and gas reserves to stimulate national economic growth and boost public revenue.
en_1140290948540-16
South Africa strengthens its strategy to accelerate oil and gas development
The South African government is intensifying efforts to exploit its vast oil and gas reserves to stimulate national economic growth and boost public revenue.
en_1140290948540-16

Oil spill in the Amazon: Ecuador fears impact on Coca hydroelectric plant

Ecuador has detected a new oil spill in a pipeline located in the Amazonian province of Napo, near its main hydroelectric plant, raising concerns over the country’s energy supply.
Iraq and the United Arab Emirates submit compensation plans to OPEC+ after oil overproduction
Iraq and the United Arab Emirates have submitted compensation plans to OPEC+ to offset their production surplus in February, amid falling crude prices and the gradual reduction of cuts planned for April.
en_1140290945540-15
Iraq and the United Arab Emirates submit compensation plans to OPEC+ after oil overproduction
Iraq and the United Arab Emirates have submitted compensation plans to OPEC+ to offset their production surplus in February, amid falling crude prices and the gradual reduction of cuts planned for April.
en_1140290945540-15
US oil stocks increase by 1.7 million barrels, surpassing expectations
US commercial oil stocks increased by 1.7 million barrels last week, a figure higher than forecasts, according to the US Energy Information Administration (EIA).
en_1140290959540-14
US oil stocks increase by 1.7 million barrels, surpassing expectations
US commercial oil stocks increased by 1.7 million barrels last week, a figure higher than forecasts, according to the US Energy Information Administration (EIA).
en_1140290959540-14
Fire on a key pipeline in Nigeria, authorities quickly bring the situation under control
A fire damaged the Trans Niger Delta Pipeline in Nigeria, the country's main pipeline. The incident was swiftly controlled, although details of material and environmental damage remain unclear.
en_1140290957540-14
Fire on a key pipeline in Nigeria, authorities quickly bring the situation under control
A fire damaged the Trans Niger Delta Pipeline in Nigeria, the country's main pipeline. The incident was swiftly controlled, although details of material and environmental damage remain unclear.
en_1140290957540-14

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS