This report does not constitute a rating action. STOCKHOLM (S&P Global Ratings) May 13, 2025--Norway-based pure play oil ang gas producer Var Energi ASA is contemplating issuing a dual tranche benchmark size senior unsecured notes due 2030 and 2035. The issuance is for general corporate purposes and to repay a portion of the working capital credit facility. We view the issuance to be credit neutral but that it reflects the proactive approach by management to liquidity and debt to maintain an efficient and well spread-out debt structure. Our ?BBB? rating and stable outlook on Var Energi reflects the major position the company has in Norway, as the third largest producer and a key shareholder (ENI SpA 63% ownership). The company
