Statoil has completed the previously announced sale of its non-operated interests in West Virginia, US, to Antero Resources in a transaction valued at $96m.
As part of the transaction, the company sold approximately 11,500 net acres with an average working interest of about 19% across Wetzel, Tyler and Doddridge counties.
Statoil said in the Marcellus it will retain its operated properties Ohio, US, and around 350,000 net acre non-operated position.
On 9 June this year, Antero acquired Southwestern Energy Company’s stake in the same assets.
Both Statoil and Antero have agreed on a price that was equivalent to that agreed between Southwestern and Antero.
The sale will increase Statoil financial flexibility and allows capital to be focused on core activities.
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By GlobalDataStatoil agreed in December 2014 to reduce its working interest in its non-operated southern Marcellus asset from 29% to 23% in a deal valued at $394m with Southwestern Energy.
The company also divested its operated properties in West Virginia to EQT in May this year for $407m.
Statoil US development and production executive vice-president Torgrim Reitan said previously that the US business is one of the focus areas in the company’s international strategy.
Image: Statoil retains its operated properties in the Marcellus. Photo: courtesy of Ole Jørgen Bratland.
