Statoil ASA announced that it extended the charter of the semi-submersible rig Songa Trym by 17 months until 1 July 2012. The extension implies a reduced day rate for the remaining part of the original contract, which ran until 1 February 2011. However, it was not disclosed how big the price cut is. From 1 December 2009 until 1 July 2012 the total contract value is NOK 344 million. The deal is conditional on the approval of Statoil's partners.

Statoil ASA reported earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net operating income of NOK 28.3 billion, compared to NOK 47.0 billion in the third quarter of 2008. The decrease is mainly attributable to lower prices for both liquids and gas and to a lesser extent increased depreciation and impairment expense. Income before tax amounted to NOK 31.5 billion, while taxable income was estimated to be NOK 10.9 billion higher. The estimated difference of NOK 10.9 billion arose in companies that changed their functional currency as from January 1, 2009. Adjusted earnings after tax were NOK 9.3 billion, down from NOK 15.4 billion in the third quarter of 2008. Net income was NOK 6.6 billion compared to NOK 6.3 billion in the third quarter of 2008. The 6% increase is mainly due to the net gain on net financial items and a lower effective tax rate, only partly offset by the reduction in net operating income caused mainly by reduced prices. Earnings per share based on net income were NOK 2.33 compared to NOK 2.04 in the third quarter of 2008. For the nine months, the company reported net operating income was NOK 88.1 billion, compared to NOK 161.1 billion in the first nine months of 2008. The decrease is mainly attributable to lower prices of oil and gas and increased depreciation, amortisation and impairment losses, partly offset by income from higher volumes. Income before tax amounted to NOK 82.6 billion, while taxable income was estimated to be NOK 24.6 billion higher than income before tax. The estimated difference of NOK 24.6 billion arose in companies that changed their functional currency as from January 1, 2009. Net income was NOK 10.6 billion compared to NOK 41.2 billion. The 74% decrease is mainly due to reduced operating income caused by lower revenues from liquids and gas sales and a higher effective tax rate, only partly offset by reduced loss on net financial items. Earnings per share based on net income amounted to NOK 3.50, compared to NOK 12.95 in the first nine months of 2008. Cash flows provided by operations amounted to NOK 61.2 billion, while cash flows to investments amounted to NOK 56.4 billion. Cash flows provided by operations decreased by NOK 22.0 billion from the same period last year, mainly due to lower operating income, but partly compensated by changes in working capital and lower income tax payments. The company expects capital expenditures for 2009, excluding acquisitions and capital leases, are estimated at around USD 13.5 billion. In the third quarter of 2009, impairment losses net of reversals NOK 5.3 billion, underlift NOK 0.9 billion, lower values of products in operational storage NOK 0.2 billion negatively impacted net operating income, while higher fair value of derivatives NOK 3.0 billion and other accruals NOK 0.1 billion had a positive impact on net operating income.

Statoil ASA expected to Report Fiscal Year 2009 Results on February 15, 2010. This event was calculated by Capital IQ (Created on November 4, 2009).