Equities
Vår Energi, DNO to Swap Norwegian Continental Shelf Assets
Oil and gas companies Vår Energi (VAR.OL) and DNO (DNO.OL) signed a swap deal for Norwegian Continental Shelf assets, according to two separate Thursday releases.Under the deal, DNO will acquire a 5% stake in Vår Energi's Gjøa field and the Gjøa Nord discovery in the Northern North Sea. In exchange, Vår Energi will receive a 5% ownership in the Nova subsea field, which is tied back to the Gjøa platform.Vår Energi will also acquire DNO's 15% stake in PL956, located at the Ringhorne Nord discovery. DNO will receive $17.5 million in cash consideration for the swap deal, which remains subject to regulatory approvals.
$DNO.OL$VAR.OL
