Noreco to acquire Shell’s Danish upstream assets for $1.9bn

Noreco, wholly owned subsidiary, Altinex has entered into an agreement to acquire Royal Dutch Shell upstream assets in Denmark for $1.9bn. This acquisition will establish Noreco as an E&P company on the Danish Continental Shelf, and position it as the second largest oil and gas producer in the country. Noreco will post completion have a 36.8% non-operated interest in the Danish Underground Consortium with assets that comprise 15 fields in four producing hubs.