Vår Energi - (VAR)

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Vår Energi completes sale of Norne area assets and increases its interest in the Ringhorne East Unit

Sandnes, Norway 30 August 2024: Vår Energi ASA (OSE: VAR) completes the sale of
its Norne area field interests to DNO Norge AS for a fixed after-tax
consideration of USD 51 million. The Norne area is located in the Norwegian Sea
…

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and the transaction include interests in the Norne (6.9%), Urd (11.5%), Skuld
(11.5%) and Marulk (20%) fields and the Verdande (10.49%) development project.

As part of the transaction DNO Norge has assigned to Vår Energi their 22.62%
interest in the Ringhorne East unit, taking Vår Energi’s interest to 92.6%.

The transaction with DNO Norge is in line with Vår Energi’s stated strategy to
dispose of non-core assets to high grade the portfolio, supporting further
growth and long-term value creation in the Company’s core hub areas. The
assigned assets are late life, and the transaction will improve Vår Energi’s
unit operating costs and emissions intensity outlook. DNO will assume the
associated decommissioning liabilities for the Norne area field interests.

Vår Energi’s net production from the Norne area fields was approximately three
thousand barrels of oil equivalent per day the first half of 2024. Net remaining
proved plus probable (2P) reserves for the fields is 7 million barrels of oil
equivalent at year end 2023.

Contact

Investor relations
Ida Marie Fjellheim, VP Investor Relations
+47 90509291
ida.fjellheim@varenergi.no

Stian Seipæjærvi, Sr. Investor Relations Analyst
+47 90954060
stian.salmi.seipaejaervi@varenergi.no

Media relations
Andreas Wulff, VP Public Affairs
+47 92616759
andreas.wulff@varenergi.no

About Vår Energi

Vår Energi is a leading independent upstream oil and gas company on the
Norwegian continental shelf (NCS). We are committed to deliver a better future
through responsible value driven growth based on over 50 years of NCS
operations, a robust and diversified asset portfolio with ongoing development
projects, and a strong exploration track record. Our ambition is to be the
safest operator on the NCS, the partner of choice, an ESG leader with a tangible
plan to reduce emissions from our operations by more than 50% within 2030.

Vår Energi has around 1400 employees and equity stakes in 43 producing fields.
We have our headquarters outside Stavanger, Norway, with offices in Oslo,
Hammerfest and Florø. To learn more, please visit varenergi.no

Kilde

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Vår Energi ASA: Notice of extraordinary general meeting

Sandnes, Norway, 3 September 2024: Reference is made to the stock exchange
notice by Vår Energi ASA (“Vår Energi”, OSE: VAR) issued on 30 August 2024
regarding the resignation of board member Ove Gusevik.
…

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In order to appoint a new supplemental director, the board of directors of Vår
Energi has today called for an extraordinary general meeting. The extraordinary
general meeting will be held on 25 September 2024 at 15:00 (CEST). The meeting
will be held as a digital event.

Shareholders can participate in the extraordinary general meeting via webcast
and also vote in advance or by proxy. Please see further detailed information
for registration and advance voting in the attached notice of extraordinary
general meeting.

The complete notice and attachments thereto, including the recommendation from
the election committee, can be found here:
General Meetings - Vår Energi

Contact
Investor relations:
Ida Marie Fjellheim
Head of Investor Relations
+47 90509291
ida.fjellheim@varenergi.no

Media relations:
Andreas Wulff
Communication Manager
+47 92616759
andreas.wulff@varenergi.no

About Vår Energi

Vår Energi is a leading independent upstream oil and gas company on the
Norwegian continental shelf (NCS). We are committed to deliver a better future
through responsible value driven growth based on over 50 years of NCS
operations, a robust and diversified asset portfolio with ongoing development
projects, and a strong exploration track record. Our ambition is to be the
safest operator on the NCS, the partner of choice, an ESG leader with a tangible
plan to reduce emissions from our operations by 50% within 2030. Vår Energi has
around 1400 employees and equity stakes in 43 fields. We have our headquarters
outside Stavanger, Norway, with offices in Oslo, Hammerfest and Florø. To learn
more, please visit varenergi.no.

This information is subject to disclosure requirements pursuant to section 5-12
of the Norwegian Securities Trading Act.

Kilde

[TekBot]

Vår Energi ASA: Notification of trade by primary insider

Sandnes, Norway, 4 September 2024: Deputy employee representative to the Board,
Trond Arvid Larsen in Vår Energi (OSE: VAR) has bought 3000 shares in the
company at a price of NOK 33.16 per share. Following the purchase, Larsen holds
…

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a total of 14 450 shares in Vår Energi.

This information is subject to the disclosure requirements pursuant to MAR
article 19 and Section 5-12 the Norwegian Securities Trading Act.

Contact

Investor relations

Ida Marie Fjellheim, Head of Investor Relations

+47 90509291

ida.fjellheim@varenergi.no

About Vår Energi

Vår Energi is a leading independent upstream oil and gas company on the
Norwegian continental shelf (NCS). We are committed to deliver a better future
through responsible value driven growth based on over 50 years of NCS
operations, a robust and diversified asset portfolio with ongoing development
projects, and a strong exploration track record. Our ambition is to be the
safest operator on the NCS, the partner of choice, an ESG leader with a tangible
plan to reduce emissions from our operations by 50% within 2030. Vår Energi has
around 1400 employees and equity stakes in 43 fields. We have our headquarters
outside Stavanger, Norway, with offices in Oslo, Hammerfest and Florø. To learn
more, please visit varenergi.no.

Kilde

[TekBot]

Vår Energi ASA’s share saving plan allocates shares

Sandnes, Norway, 5 September 2024: A total of 549 956 shares were purchased on
behalf of employees in Vår Energi ASA (OSE: VAR) participating in the company’s
employee share saving programme. The average purchase price was NOK 33.6899 per
…

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share. The transactions are based on savings made in July, August, and September
2024. 86% of Vår Energi employees took part in the share saving for these
months.

As part of the programme, primary insiders in Vår Energi ASA (OSE: VAR)
purchased 17 644 shares at an average price of NOK 33.6899 per share.

Details on individual allocation of shares to primary insiders is included in
the attached notification of trading.

About Vår Energi

Vår Energi is a leading independent upstream oil and gas company on the
Norwegian continental shelf (NCS). We are committed to deliver a better future
through responsible value driven growth based on over 50 years of NCS
operations, a robust and diversified asset portfolio with ongoing development
projects, and a strong exploration track record. Our ambition is to be the
safest operator on the NCS, the partner of choice, an ESG leader with a tangible
plan to reduce emissions from our operations by 50% within 2030.

Vår Energi has around 1400 employees and equity stakes in 43 producing fields.
We have our headquarters outside Stavanger, Norway, with offices in Oslo,
Hammerfest and Florø. To learn more, please visit varenergi.no.

Contact

Investor relations

Ida Marie Fjellheim, Head of Investor Relations

+47 90509291

ida.fjellheim@varenergi.no

Media relations

Andreas Wulff, VP Public Affairs

+47 92616759

andreas.wulff@varenergi.no

This information is subject to the disclosure requirements pursuant to
regulation EU 596/2014 Article 19 and Section 5-12 the Norwegian Securities
Trading Act.

Kilde

[pleximus83]

https://www.marinetraffic.com/en/ais/home/shipid:8917664/zoom:14

[TekBot]

Vår Energi ASA: Notification of trade by primary insider

Sandnes, Norway, 11 September 2024: Deputy employee representative to the Board,
Anita Hommedal in Vår Energi (OSE: VAR) has bought 211 shares in the company at
a price of NOK 33.14 per share. The transaction was performed on 9 September
…

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2024. Following the purchase, Hommedal holds a total of 2 550 shares in Vår
      Energi.

This information is subject to the disclosure requirements pursuant to MAR
article 19 and Section 5-12 the Norwegian Securities Trading Act.

Contact

Investor relations

Ida Marie Fjellheim, Head of Investor Relations

+47 90509291

ida.fjellheim@varenergi.no

About Vår Energi

Vår Energi is a leading independent upstream oil and gas company on the
Norwegian continental shelf (NCS). We are committed to deliver a better future
through responsible value driven growth based on over 50 years of NCS
operations, a robust and diversified asset portfolio with ongoing development
projects, and a strong exploration track record. Our ambition is to be the
safest operator on the NCS, the partner of choice, an ESG leader with a tangible
plan to reduce emissions from our operations by 50% within 2030. Vår Energi has
around 1400 employees and equity stakes in 43 fields. We have our headquarters
outside Stavanger, Norway, with offices in Oslo, Hammerfest and Florø. To learn
more, please visit varenergi.no.

Kilde

[Freddys]

GOD’DAMN 🤌🏼🍾 Rester av feriepenger, som sitter løst?

[TekBot]

Vår Energi preparing for Johan Castberg start-up

Vår Energi is one step closer to reaching its growth target as the production
vessel Johan Castberg successfully anchors at the field in the Barents Sea.

…

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[image]

The Equinor operated floating production and storage vessel (FPSO) Johan
Castberg is securely anchored on the field, and preparations for production
start-up in the fourth quarter 2024 are ongoing.

CEO in Vår Energi, Nick Walker, said:

"Vår Energi is one of the world’s fastest growing E&P’s, and a leading player in
the Barents Sea. With Johan Castberg in place at the field we are firmly on
track to achieving our production target of around 400 thousand barrels of oil
equivalent per day by end 2025.

Together with the licence partners we are working to further develop the area.
This includes, additional infill development wells, maturing five existing
discoveries to be tied back to Johan Castberg and plans for further exploration
activities in the coming years".

Vår Energi is stepping up activity in the Barents. Vice President Barents Sea in
Vår Energi, Vegard Bruaset said:

“Building on our unique experience as operator for the neighboring Goliat field,
we are set to capture new opportunities through exploration and development of
new discoveries in the area. We are accelerating our drilling activity and will
be participating in a total of 12 production and exploration wells in the
Barents Sea this year”.

Johan Castberg, with a production capacity of 220 thousand barrels per day
reinforces the role of the Barents Sea as a major energy provider to Europe,
while creating value for all stakeholders, including major ripple effects in
northern Norway.

Johan Castberg is located 240 kilometres northwest of Hammerfest. The field has
a supply and helicopter base in Hammerfest.

Facts:

· Johan Castberg is a large oil field with estimated recoverable volumes of
between 450 and 650 million barrels.
· Johan Castberg is located in the Barents Sea, 100 kilometres northwest of
the Snøhvit field.
· Johan Castberg consists of the three discoveries Skrugard, Havis and Drivis,
which were made between 2011 and 2013
· The FPSO is 313 metres long, 55 metres wide and 120 metres high. Its design
storage capacity is 1.1 million barrels of oil.
· Licencees: Equinor Energy AS (operator) 50%, Vår Energi ASA 30% and Petoro
AS 20%.

Photo: Lars Morken/Equinor

Contacts

Media
Liv Jannie Omdal, VP Communications
+47 97667137
Liv.omdal@varenergi.no

Kilde

[TekBot]

Vår Energi ASA: Extraordinary general meeting held

Sandnes, Norway, 25 September 2024: The extraordinary general meeting of Vår
Energi ASA (the “Company”) (OSE: VAR) was held today, 25 September 2024, at
15:00 (CEST). The meeting was held as a digital event.
…

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In accordance with the proposals made by the Company’s election committee, the
general meeting elected Ole Johan Gillebo as a member of the Company’s board.
Consequently, the Board now has the following composition¹:

· Thorhild Widvey, chair (2024-26)
· Liv Monica Bargem Stubholt, deputy chair (2024-25)
· Ole Johan Gillebo, director (2024-26) (new)
· Fabio Ignazio Romeo, director (2024-25)
· Guido Brusco, director (2024-25)
· Francesco Gattei, director (2024-25)
· Francesca Rinaldi, director (2024-26)
· Claudia Almadori, director (2024-26)
· Carl Anders Olof Kjörling, employee representative (2024-26)
· Lilli Fagerdal, employee representative (2024-26)
· Jan Inge Nesheim, employee representative (2024-26)
· Martha Skjæveland, employee representative (2024-26)

The complete minutes from the meeting will be made accessible on
General Meetings - Vår Energi

1. Length of term in brackets

Contact
Investor relations:
Ida Marie Fjellheim
Head of Investor Relations
+47 90509291
ida.fjellheim@varenergi.no

Media relations:
Andreas Wulff
VP Public Affairs
+47 92616759
andreas.wulff@varenergi.no

About Vår Energi

Vår Energi is a leading independent upstream oil and gas company on the
Norwegian continental shelf (NCS). We are committed to deliver a better future
through responsible value driven growth based on over 50 years of NCS
operations, a robust and diversified asset portfolio with ongoing development
projects, and a strong exploration track record. Our ambition is to be the
safest operator on the NCS, the partner of choice, an ESG leader with a tangible
plan to reduce emissions from our operations by 50% within 2030.

Vår Energi has around 1400 employees and equity stakes in 43 producing fields.
We have our headquarters outside Stavanger, Norway, with offices in Oslo,
Hammerfest and Florø. To learn more, please visit varenergi.no.

Kilde

[bones70]

Uansett nyheter så greier denne tragedien av aksje å tryne hele jævla tiden.

[rayman]

Trynet litt i 2023, men ikke store nedgangen nå

[LosFidro]

Legg til utbyttet så er året ganske så bra.
Personlig føler jeg VÅR er ganske underpriset, like så greit så får jeg kanskje økt litt mer på sikt.

[LosFidro]

Klarte ikke vente… Økte litt i dag
14% direkteavkasting på ett så solid selskap. Med mindre man er Olje og gass bear så er vel dette soleklart kjøp?

[pleximus83]

Enig,og de fremtidige underinvesteringene som vil prege markedet fremover vil nok gjøre dagens inntog i samtlige oljeselskaper veldig lukrativ.

[pleximus83]

klarer ikke å poste hele artikkelen,men gøy å se det skjer ting i barentshavet

Nå er COSLProspector på vei mot Barentshavet - Energi24.no

[Melhus79]

Anbefaler oljeduo før tall
DNB Markets-analytiker Steffen Evjen oppdaterer kundene før «trading updates» fra Aker BP og Vår Energi.

DNB Markets: KJØP AKER BP & VÅR ENERGI – Anbefaler oljeduo før tall

[Melhus79]

[pleximus83]

Goldman Sachs om norske oljeselskaper: – Én favoritt med en overlegen...

[Melhus79]

Kjøpssignaler på rekke og rad
Det ble utløst en rekke kjøpssignaler på Oslo Børs sist uke. I Vår Energi ble det utløst fem. Oljeprisen og den lange renten smalt rett opp og brøt en rekke, tekniske motstandsnivåer.

[TekBot]

Vår Energi: Third quarter 2024 trading update

Sandnes, Norway, 10 October 2024: Vår Energi ASA (OSE: VAR, the “Company”) will
publish its financial report for the third quarter 2024 on Tuesday 22 October.
Today, the Company provides an update on production, sales volumes and other
…

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relevant items.

Vår Energi’s net production of oil, liquids and natural gas averaged 256 kboepd
in the third quarter of 2024, a decrease of 11% from the second quarter and an
increase of 22% compared to the third quarter of 2023. The production in the
quarter was affected by planned seasonal maintenance and turnaround activity on
several assets which is now mostly complete. The average production of 281
kboepd in the first nine months of 2024 is in line with expectations for the
period. The Company is narrowing the 2024 full year production guidance range to
between 280 to 290 kboepd, with the upside level dependent upon the timing of
the start-up of Johan Castberg, which is expected towards the end of the fourth
quarter.

The production split in the third quarter was 66% oil and NGLs (liquids) and 34%
gas. Total volumes produced was 23.6 mmboe whereas volumes sold in the quarter
amounted to 24.0 mmboe. Vår Energi obtained a strong average realised price
(volume-weighted) of USD 76 per boe in the quarter. The realised crude price was
USD 81 per barrel. The realised gas price of USD 76 per boe is a result of fixed
price contracts and flexible gas sales agreements, allowing for optimisation of
indices. The fixed price contracts represented 18% of third quarter gas volumes
sold at an average price of approximately USD 135 per boe, substantially above
spot market reference price.

[]
Production (kboepd)[1] Q3 2024 Q2 2024 Q3 2023 YTD 2024 YTD 2023
Crude oil 154 162 126 162 120
Gas 86 103 71 100 75
NGL 16 22 13 19 14
Total 256 287 210 281 209

Realised prices (USD/boe)
Crude oil price 81 85 87 83 83
Gas price 76 70 91 71 124
NGL price 46 44 43 47 43
Average (volume weighted) 76 77 85 76 94

Sales volumes (mmboe)
Crude oil 14.2 15.1 11.9 43.9 32.5
Gas 7.7 7.9 5.8 24.8 18.4
NGL 2.0 2.1 1.4 6.3 3.7
Total 24.0 25.1 19.0 74.9 54.5

Total production (mmboe) 23.6 26.1 19.3 76.9 57.0

¹ Produced figures are including fuel gas not for sale

Other items

Vår Energi Norge AS is consolidated as of 1 January 2024.

Vår Energi’s functional currency is NOK, whilst interest bearing loans are in
USD. The strengthening of the NOK in the third quarter of 2024 led to a net
exchange rate gain of approximately USD 47 million.

As a result of the company history of mergers and acquisitions, Vår Energi has
several assets valued at fair value in the balance sheet. Changes in
assumptions, cost and production profiles can result in impairments and
reversals.

Non-cash impairment charges are estimated to be around USD 314 million pre-tax
(around USD 90 million post tax) for the third quarter, mainly related to the
Balder field. The impairment was triggered by increased costs and delayed start
-up as communicated in August.

As previously communicated, the following items impacted the free cash flow in
the quarter: one cash tax payment totaling approximately NOK 3.5 billion
(approximately USD 0.3 billion) and a dividend payment for the second quarter of
USD 270 million, paid in August.

The information above is based on a preliminary assessment of the Company’s
third quarter 2024 financial results and may be subject to change until the
financial statements

Third quarter webcast and conference call

Vår Energi will release its quarterly results on 22 October at 07:00 CEST. A
webcast and conference call followed by Q&A will be held at 10:00 CEST, hosted
by CEO Nick Walker and CFO Stefano Pujatti.

You can follow the webcast with supporting slides, available on:
Q3 2024 • WN Event

Contact

Investor relations

Ida Marie Fjellheim, Head of Investor Relations

+47 90509291

ida.fjellheim@varenergi.no

Media relations

Andreas Wulff, VP Public Affairs

+47 92616759

andreas.wulff@varenergi.no

About Vår Energi

Vår Energi is a leading independent upstream oil and gas company on the
Norwegian continental shelf (NCS). We are committed to deliver a better future
through responsible value driven growth based on over 50 years of NCS
operations, a robust and diversified asset portfolio with ongoing development
projects, and a strong exploration track record. Our ambition is to be the
safest operator on the NCS, the partner of choice, an ESG leader with a tangible
plan to reduce emissions from our operations by 50% within 2030. Vår Energi has
around 1400 employees and equity stakes in 43 fields. We have our headquarters
outside Stavanger, Norway, with offices in Oslo, Hammerfest and Florø. To learn
more, please visit varenergi.no.

This information is subject to disclosure requirements pursuant to section 5-12
of the Norwegian Securities Trading Act

Kilde