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DNO Closes Arran Field Stake Acquisition in UKCS

DNO Closes Arran Field Stake Acquisition in UKCS
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DNO Completes Acquisition of 25 Percent of UK s Arran Field

DNO Completes Acquisition of 25 Percent of UK s Arran Field
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North seaOceans generalUnited kingdomChris spencerExploration united kingdomShell united kingdomOslo stock exchangeUnited kingdom continental shelfUnited kingdom limitedShell united kingdom limitedShell operated shearwaterNorwegian continental shelfUnited kingdom continentalOffshore licensing roundMiddle eastNorwegian securities trading

DNO - DNO Completes Acquisition of 25 Percent

DNO - DNO Completes Acquisition of 25 Percent
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DNO to Acquire 25 Percent Stake in Arran Field for $70MM

The transaction is expected to add around four million barrels of oil equivalent net to DNO, consisting of 90 percent gas.

North seaOceans generalUnited kingdomCruden bayNorwegian seaChris spencerExploration united kingdomNorwegian ministry of energyUnited kingdom limitedContinental shelfFulmar gasFergus terminalForties pipeline systemDirector chris spencerTrym restartPredefined areas

DNO acquires interest in Shell-operated field offshore UK, increasing North Sea production

The transaction is expected to add some 4 MMboe net to DNO, of which 90% gas, with projected net 2024 production of 2,000-2,500 boed. The cash consideration is $70 million plus a contingent consideration of up to $5 million if certain operational targets are met.

North seaOceans generalCruden bayUnited kingdomChris spencerExploration united kingdomUnited kingdom limitedUnited kingdom continental shelfFulmar gasFergus terminalForties pipelineTrym restart