Statoil divests assets in the Marcellus to EQT Corp.
Published by Callum O'Reilly,
Senior Editor
LNG Industry,
Statoil has announced that it has reached an agreement to divest its operated properties in West Virginia, US, to EQT Corp. for US$407 million in cash.
This divestment of non-core assets comprises approximately 62 500 net acres. Equity production from the properties in 1Q16 was approximately 9300 boe/d.
Statoil said that it retains its operated properties in Ohio, US, and its non-operated Marcellus positions.
The transaction is expected to close in July 2016, subject to certain conditions being met.
Edited from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/04052016/statoil-divests-assets-in-the-marcellus-to-eqt-corp-2390/
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