Statoil, Repsol complete Eagle Ford transaction

Norway’s Statoil on Thursday informed it has completed the acquisition of a 13 percent interest in Eagle Ford joint venture from Repsol. 

With the acquisition of additional interest in the JV, Statoil becomes the sole operator, the company’s statement reveals.

Statoil said earlier that the transaction will allow the company to optimally develop and operate the field making it more resilient to the low oil prices.

In its statement, Statoil also confirmed it has farmed down to Repsol a 15 percent interest in the Gudrun field on the Norwegian Continental Shelf, but that it still remains the operator with a 36 percent interest.

LNG World News Staff