Statoil takes control of Eagle Ford acreage

Statoil

Statoil has become operator of half the acreage it holds under a 50/50 joint venture agreement with Canada’s Talisman Energy in the Eagle Ford shale play in South Texas.

The transfer affects activities in the eastern part of the venture’s holdings, mainly in Live Oak, Karnes, DeWitt, and Bee counties. It occurs under an agreement reached last year. Talisman until now has operated all the acreage held by the joint venture, which the companies formed in 2010.

It remains operator of the western acreage, mainly in McMullen, La Salle, and Dimmit counties.

Statoil, a Norwegian energy company, already had taken over operation of three drilling rigs in the Eagle Ford play. On July 1, it assumed responsibility for producing wells, processing facilities, pipelines and infrastructure, and a field office in Runge.

Statoil’s net Eagle Ford interests are 73,000 acres and 20,200 boe/d of production from about 300 wells.

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