Oranje-Nassau Energie (ONE) and SHV Holdings have reached an agreement on the merger of their upstream energy businesses, forming a combined entity called ONE-Dyas.
ONE-Dyas will be a prominent, North Sea-focused independent operator, the companies said, with 2019 gas and oil production of some 35,000 boe per day. ONE’s parent company, ONH, will own 51% of the shares in ONE-Dyas and SHV 49%. The merging of activities is subject to regulatory approval, with the transaction expected to be completed during the first half of 2019. Read more…