ONE-Dyas will be a prominent North Sea focused independent operator, holding operated and non-operated assets, with 2019 gas and oil production of some 35,000 boe/day and with an experienced technical and entrepreneurial team, building further on the track record of both ONE and Dyas. This position will enable ONE-Dyas to pursue further growth opportunities, by leveraging portfolio synergies and cross learnings and by continuously optimising the portfolio that is currently well balanced between oil and gas.
The combination aspires to grow its North Sea focused business and will have readily available sources of financing to fund the growth ambitions. It will be backed by a strong financial position with dedicated private shareholders.
The merging of activities is subject to regulatory approvals and completion of the transaction is expected to take place in the first half of 2019.