DNO has agreed to acquire Capricorn Energy for $396 million, marking its entry into Egypt's upstream oil and gas sector. The transaction adds Egyptian assets as a new operating region alongside DNO's existing positions in the North Sea and Kurdistan. Capricorn's board backed DNO's offer, which prevailed over a competing bid. The acquisition gives DNO a third operating leg, following the same playbook as the Sval Energi deal, which focused on established, high-margin assets. Key milestones now are deal completion timing and how DNO updates guidance once the Egyptian assets are consolidated, currently expected between Q4 2026 and Q1 2027.
Dno ASADNO agreed to acquire Capricorn Energy for $396 million, adding Egypt as a third operating region
Capricorn Energy PLCCapricorn's board backed DNO's $396 million offer, which prevailed over a competing bid
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