DNO ASA (GB:0MHP) has released an update.
DNO ASA, a Norwegian oil and gas operator, has expanded its presence in the Norne area of the Norwegian Sea by acquiring stakes in five oil and gas fields, including operatorship of the Marulk field. The deal, worth around USD 24 million in net cash consideration, adds significant reserves and boosts DNO’s production with an expected increase to above 5,000 barrels of oil equivalent per day by 2026. This acquisition complements DNO’s recent Arran field stake purchase and supports its strategy of ramping up North Sea production and exploration activities.
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