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
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