EQT buys Marcellus shale assets from Statoil

By LNG World News Norwegian energy giant Statoil said it has agreed to divest its operated Marcellus properties in the US state of West Virginia to EQT Corporation for US$407 million.
EQT will acquire 62,500 net acres, and current natural gas production of 50 MMcfe per day from Statoil USA Onshore Properties, a unit of Statoil. The transaction is expected to close on or about July 8, 2016.
Primarily located in Wetzel, Tyler, and Harrison Counties of West Virginia, the acquisition adds a “sizeable amount of acreage” within EQT’s core development area and complements the company’s adjacent operations in Wetzel County, EQT said in a statement

Read Full Article Here

For more great articles: LNG World News

(Visited 42 times, 1 visits today)