oil & gas assets
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IS - Vår closes $4.5B acquisition of Exxon’s Norway portfolio - December 2019

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Var Energi completed the $4.5 billion acquisition of ExxonMobil’s remaining upstream assets in Norway on Dec. 10, doubling its 2019 pro forma production to 300,000 boe/d and boosting its reserves and resources ~50% to 1.9 Bboe. Vår says this will make it the second-largest E&P company on the Norwegian Continental Shelf after Equinor. Exxon departs from the Norwegian North Sea after more than a century. The supermajor retains its refinery in Slagen and its......
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