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News  ›  GlobeNewswire Inc.

DNO Agrees North Sea Oil Offtake with Exxon Mobil and Shell, Unlocks Attractive Financing

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Dno Asa
DNO Agrees North Sea Oil Offtake with Exxon Mobil and Shell, Unlocks Attractive Financing

DNO ASA has placed its North Sea oil production with ExxonMobil and Shell, securing offtake financing facilities totaling up to USD 410 million for two separate agreements covering its entire North Sea oil output.

Insights
EPD   positive

Stable midstream energy infrastructure with 27 consecutive years of distribution increases and 7.1% yield, operating as a fee-based 'toll-taker'


XOM   positive

Secured half of DNO's North Sea oil output with a two-year agreement and USD 185 million revolving credit facility