Deal Insight
Shell exits Denmark in US$1.9 billion deal with Noreco
Report summary
Shell has agreed to sell its 36.8% stake in the Danish Underground Consortium (DUC) to Noreco for US$1.9 billion. The DUC is a joint venture operated by Total (31.2%, historically Maersk Oil). The other partners in the long-standing group are Chevron (12%, recently acquired by Total) and the Danish state (20%). This deal signals an almost complete changing of the guard in the Danish upstream sector, following the takeover of Maersk Oil and Chevron's exit. The DUC includes the key Tyra hub and cash-generative Halfdan and Dan fields, along with 12 other producing assets.
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:
- Executive summary: Table 1
- Upstream assets: Table 1
- Deal analysis: Table 1
- Deal analysis: Table 2
- Deal analysis: Table 3
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
What's included
This report contains:
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