Statoil realizes $394 million from Marcellus asset

Statoil has agreed to reduce its working interest in the non-operated US southern Marcellus onshore asset from 29% to 23%, following a $394 million transaction with Southwestern Energy Co.

The transaction covers 515,000 acres in the southern part of the Marcellus, in which Statoil today holds an average working interest of 29%.

The divested share of the Southern Marcellus shale play represents approximately 30,000 acres. Statoil’s 2014 third quarter production from the Marcellus play amounted to 130,500 barrels of oil equivalent per day, of which approximately 4,000 barrels came from the assets included in the transaction.

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