Noreco draws down on $900 million reserve-based facility for purchase

By Wendy Van Sickle

Columbus, Ohio, July 31 – Norwegian Energy Co. ASA drew down on its $900 million seven-year reserve-based lending facility to fund its acquisition of 100% of the shares of Shell Olie-og Gasudvinding Danmark BV, according to a company announcement.

Norwegian Energy, also known as Noreco, is a Stavanger, Norway-based oil and gas company. Based in Denmark, Shell Olie-og Gasudvinding is a natural gas exploration and production services company.

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