Statoil has agreed to divest its operated properties in the US state of West Virginia to EQT Corporation for USD 407 million in cash.
This divestment of non-core assets comprises approximately 62,500 net acres. Equity production from the properties in Q1 2016 was c.9,300 boe per day. Statoil retains its operated properties in the US state of Ohio and its non-operated Marcellus positions.
The transaction is expected to close in July 2016, subject to certain conditions being met.
About Statoil
Statoil ASA (OSE: STL, NYSE: STO) is an international energy company with operations in 36 countries. Building on 40 years of experience from oil and gas production on the Norwegian continental shelf, we are committed to accommodating the world's energy needs in a responsible manner, applying technology and creating innovative business solutions. We are headquartered in Stavanger, Norway, with approximately 23,000 employees worldwide, and are listed on the Oslo and New York stock exchanges.