Statoil and Southwestern Energy Company have completed the 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 informed in a statement.
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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Image: Statoil