Statoil and Southwestern Energy complete transaction on non-operated Marcellus asset
Drilling rig in the Marcellus area. (Photo: Helge Hansen)
The transaction covers 515,000 acres in the southern part of the Marcellus. The divested share represents approximately 30,000 acres.
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.