Statoil sells interest in unconventional oil asset

Source:Statoil

Statoil sells interest in unconventional oil asset

Statoil and Southwestern Energy Company have completed their previously announced transaction, whereby Statoil has reduced its average working interest in the non-operated US southern Marcellus onshore asset from 29% to 23%.

The transaction covers 515,000 acres in the southern part of the Marcellus. The divested share 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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