Noreco Completes Acquistion of Talisman Oil Denmark
Norwegian Energy Company ASA (Noreco) has completed the acquisition of all the shares in Talisman Oil Denmark Limited. The transaction includes the producing Siri field in the Danish sector of the North Sea, and will increase Norec's daily oil production significantly.
"This transaction increases our daily oil production by more than 20%, and improves Noreco's results, balance and cash flow," said Scott Kerr, CEO of Noreco. It is expected to be completed by June 2008, subject to the fulfillment of usual government consents.
All conditions have now been fulfilled and the transaction has been formally completed.
- Det Norske to Acquire Noreco's Norwegian Portfolio (Mar 02)
- Noreco Oil UK Receives Huntington License Default Notice (Nov 02)
- Noreco CEO Steps Down (Oct 13)