Statoil sells more US shale assets

Norwegian oil and gas giant nad LNG operator Statoil has agreed a further sale of non-core assets in its US onshore portfolio, the third in the southern Marcellus in the last two years.

In the latest transaction, Statoil will divest some of its non-operated interests in the US state of West Virginia to Antero Resources Corporation for about US$96 million, the company said in its statement on Monday.

This follows the announcement by Antero in June of the acquisition of Southwestern Energy Company’s interest in the same assets. Statoil and Antero have agreed on a price equivalent to that agreed between Southwestern and Antero.

The acreage is primarily located in Wetzel, Tyler and Doddridge Counties and is operated by Southwestern. Statoil’s net acreage included in this transaction is approximately 11,500 acres and its average working interest is 19%, the statement reads.

In the Marcellus Statoil retains its operated properties in the US state of Ohio and its c. 350,000 net acre non-operated position.

The transaction is expected to close by the third quarter of 2016, subject to certain conditions being met.

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