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/