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DNO to Transfer Certain Interests on Exploration Licenses to Equinor

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DNO (DNO.OL) said Tuesday it will transfer interests in three exploration licenses to Norwegian energy group Equinor's (EQNR.OL) Equinor Energy.

The transfer is part of the settlement arrangements for a post-tax deposit obligation related to the Norwegian oil and gas operator's acquisition of Sval Energi in 2025. The obligation reflects liabilities related to the decommissioning of the Ekofisk and Martin Linge assets.

As part of the deal, DNO is transferring to Equinor a 20% interest in the Kveikje license, a 29% interest in the Heisenberg license, and a 10% interest in the license covering the Romsås prospect. Subject to customary government approvals, DNO will fully exit the Kveikje license and retain a 20% interest in each of the other two licenses.

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