DNO Acquires Interest in UK’s Arran Field, Expands North Sea Portfolio
07 2월 2024 - 3:35AM
DNO Acquires Interest in UK’s Arran Field, Expands North Sea
Portfolio
Oslo, 6 February 2024 – DNO ASA, the Norwegian oil and gas
operator, today announced that the Company’s wholly-owned
subsidiary DNO Exploration UK Limited has entered into an agreement
to acquire a 25 percent interest in the Arran field on the UK
Continental Shelf from ONE-Dyas E&P Limited.
Arran started production in 2021 as a subsea tie-back to the
Shearwater A platform, both operated by Shell U.K. Limited. Gas
from Arran is exported via the Fulmar Gas line on to the St. Fergus
Terminal while liquids are exported to Cruden Bay via the Forties
Pipeline System.
The transaction is expected to add some four million barrels of
oil equivalent net to DNO, of which 90 percent gas, with projected
net 2024 production of 2,000-2,500 barrels of oil equivalent per
day (boepd). The cash consideration is USD 70 million plus a
contingent consideration of up to USD 5 million if certain
operational targets are met.
“Arran fits neatly in our strategy of acquiring bolt-on
producing assets as we develop our significant discoveries in
Norway,” said Chris Spencer, DNO’s Managing Director. “The Company
expects financial synergies between Arran and DNO’s existing
position in the UK,” he continued.
With this transaction, DNO continues to expand a North Sea
portfolio that includes 14,200 boepd of production currently almost
exclusively from fields in Norway which will grow as ongoing
development projects notably Trym Restart (50 percent and
operator), Andvare (32 percent) and Berling (30 percent) are
brought onstream.
The Company’s exceptionally successful exploration program
delivered four additional discoveries and two successful appraisal
wells in 2023, again in Norway.
The effective date is set to 1 January 2024 and the transaction
is expected to close in the second quarter of 2024, subject to
authorities’ approval.
-For further information, please contact:Media:
media@dno.noInvestors: investor.relations@dno.no-
DNO ASA is a Norwegian oil and gas operator active in the Middle
East, the North Sea and West Africa. Founded in 1971 and listed on
the Oslo Stock Exchange, the Company holds stakes in onshore and
offshore licenses at various stages of exploration, development and
production in the Kurdistan region of Iraq, Norway, the United
Kingdom, Côte d'Ivoire, Netherlands and Yemen.
This information is subject to the disclosure requirements
pursuant to §5-12 of the Norwegian Securities Trading Act and the
EU Market Abuse Regulation.
DNO ASA (TG:NK1A)
과거 데이터 주식 차트
부터 9월(9) 2024 으로 10월(10) 2024
DNO ASA (TG:NK1A)
과거 데이터 주식 차트
부터 10월(10) 2023 으로 10월(10) 2024