OKEA ASA (DE:3SX) has released an update.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
OKEA ASA has agreed to sell its 15% stake in the Yme licence to Lime Petroleum AS for a post-tax consideration of USD 15.65 million, with the deal expected to close by the end of 2024. The transaction will also transfer all decommissioning costs to Lime and result in a post-tax accounting gain of NOK 150-250 million for OKEA. The divestiture is part of OKEA’s strategy to concentrate on its core areas and will lead to a reduction in its production by 3.0-3.5 kboepd in 2024.
For further insights into DE:3SX stock, check out TipRanks’ Stock Analysis page.
