Deal insight

DNO acquires RAK's assets in exchange for equity

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Report summary

DNO International and RAK Petroleum have announced a Heads of Agreement for the merger of RAK's operating subsidiaries in the Middle East and North Africa (MENA) with a subsidiary of DNO. In exchange DNO will issue shares to RAK equivalent to roughly 10% equity in the company taking RAK's shareholding in DNO to approximately 40%. The DNO shares will be issued at a minimum of NOK 8.25 (US$1.48) per share and a maximum of NOK 10.00 (US$1.79) against a value of the transferred ...

What's included

This report contains

  • Document

    DNO acquires RAK's assets in exchange for equity

    PDF 675.27 KB

Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 7 images and tables including:

Images

  • RAK and DNO production and reserves
  • RAK and DNO MENA acreage

Tables

  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2
  • Upstream assets: Table 1

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