Proactiveinvestors United Kingdom Dragon Oil articles

Credit Suisse says European oil stocks will continue to outperform the market

Tue, 17 Apr 2012 12:00:00 +0100

The bank’s strategists remain positive on equity markets and it believes the E&P sector is a proxy for the ‘risk on’ trade. The banking heavyweight upgraded a number of its choice oil stocks today – Afren, Genel, Dragon Oil, Faroe Petroleum, EnQuest, Premier Oil and Tullow.

Dragon Oil reports a sharp increase in production; cash pile exceeds US$1.6 bln

Mon, 16 Apr 2012 07:28:00 +0100

Dragon Oil this morning unveiled a sharp rise in production after five new wells came online in the first quarter.

Dragon Oil offers growth at a reasonable price, says Credit Suisse as it initiates coverage

Mon, 19 Mar 2012 12:42:00 +0000

Dragon Oil offers growth at a reasonable price, according to heavyweight broker Credit Suisse as it initiated coverage of the stock. It did so with an ‘outperform’ recommendation and 818 pence a share price target – a 31 per cent premium to the current share price.

Dragon Oil reports strong full-year results and issues confident outlook

Tue, 21 Feb 2012 09:28:00 +0000

The Turkmenistan-operating group reported soaring revenues and profits for 2011 and is confident it will reach its production target of 100,000 barrels of oil per day in 2015.

Dragon Oil mulls Bowleven takeover

Fri, 17 Feb 2012 12:21:00 +0000

Bowleven shares soared over 80 per cent today as Dragon Oil confirmed it was mulling a bid for the company.

Dragon Oil: A very different story to most E&Ps

Fri, 10 Feb 2012 07:42:00 +0000

Dragon was once a darling of the speculative corner of the market but is now valued on the clearly visible long term growth that an oilfield expansion project offers.

Dragon Oil makes successful start to 2012 with two well completions - UPDATE

Fri, 13 Jan 2012 11:08:00 +0000

Drilling results from two wells in the Caspian Sea made for a successful start to the year. Dublin based broker Davy believes that Dragon’s target of completing between 15 to 20 new wells each year looks increasingly comfortable.

Dragon Oil targets 100,000 barrels a day by 2015

Mon, 24 Oct 2011 07:40:00 +0100

At present Dragon Oil said it is producing 67,000 bopd of crude oil a day and it expects production to reach an exit rate of 70,000 bopd for 2011. In the coming years it expects production to grow by 10 to 15 per cent each year, to a target of 100,000 barrels a day by the end of 2015.

Dragon Oil’s new Tunisia acquisition is a good fit, says Davy analyst

Mon, 10 Oct 2011 10:39:00 +0100

As part of the group’s plan to diversify and build a multi-asset oil company Dragon has struck a farm in deal to acquire a 55 per cent stake in the Bargou exploration permit in Tunisia. The project could potentially become an oilfield development in the near term.

Dragon Oil paying its first dividend

Thu, 03 Mar 2011 12:02:00 +0000

With a rising oil price underpinning profits it comes as little surprise that oil producer Dragon Oil has recently announced that it is paying its first dividend as it becomes a more mature business.

Dragon Oil: Record profits, maiden dividend and still plenty left in the tank

Tue, 22 Feb 2011 14:17:00 +0000

THE step change in daily production has yet to be fully appreciated by the market, according to the company’s chief executive. News of the maiden dividend hogged the early headlines, while the analysts are attempting to make sense of some fairly aggressive expansion plans. In the background, however, output has expanded by more than a fifth in the past year.

Dragon Oil: solid balance sheet underpins increasing profile in London

Fri, 19 Mar 2010 07:57:00 +0000

The development and commercialization of gas resources from the Cheleken Contract Area remains a top priority and Dragon Oil expects discussions with the Turkmenistan government regarding the gas sales agreement to progress during 2010

Dragon Oil upbeat about 2010-2012 with large cash pile

Tue, 23 Feb 2010 09:25:00 +0000

Average daily production in 2009 rose 9% over 2008. The company is offering a bullish outlook for the next few years and targets further significant increases in production.

Dragon Oil's performance in FTSE 350 nothing short of impressive

Sat, 17 Oct 2009 10:20:00 +0100

Dragon Oil’s performance vis-à-vis the FTSE 350 Oil and Gas Producers Index has been impressive to say the least

Dragon Oil: Enter the Dragon

Thu, 16 Jul 2009 08:03:00 +0100

Given Dragon Oil’s (LSE, DGO) robust balance sheet, rising production profile and huge gas reserves it is little wonder that major shareholder the Dubai based Emirates National Oil Company (ENOC) is considering a takeover.

Dragon Oil is making the most of its robust cash position

Thu, 29 Jan 2009 07:45:00 +0000

For investors in Caspian Sea focused Dragon Oil, the future is bright, particularly given the Turkmenistan focused producer is laden with cash

Dragon Oil to boost production levels by 15% in 2009

Tue, 20 Jan 2009 07:30:00 +0000

Dragon Oil, whose principal producing asset is in the Cheleken Contract Area, in the Caspian Sea, reported solid production levels for 2008 and said it would increase production rates by a further 15% in 2009.