DNO ASA (GB:0MHP) has released an update.
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DNO ASA, the Norwegian oil and gas operator, has reported a substantial increase in net profit to USD 35 million in Q2 2024, with a 6% rise in net production to 79,400 boepd, primarily from operations in Kurdistan, the North Sea, and West Africa. The company has strengthened its financial position with cash deposits of USD 943 million and net cash of USD 158 million, enabling a 25% increase in its quarterly dividend to NOK 0.3125 per share. In addition to these positive financial results, DNO ASA has also made strategic acquisitions in the North Sea and issued a new USD 400 million bond to support future investments.
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