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Far Energy buys Blue Nord for $1.33B
Norwegian company "Fair Energy" announced its acquisition of "Blue Nord" for $1.33 billion, making it the largest independent oil and gas producer in Europe. The deal includes issuing 248.4 million new shares in "Fair Energy" along with a payment of 1.96 billion Norwegian kroner (approximately 76.83 kroner per share of "Blue Nord"). The newly formed entity is expected to produce around 450,000 barrels of oil equivalent per day, with annual savings estimated between $250 million and $300 million through cost reductions and improved gas sales portfolio. The company also increased its second-quarter 2026 dividend payout to $350 million. Eni, the Italian company, remains the largest shareholder, and "Blue Nord" currently holds a 9.05% stake.
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