Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Statoil Pays $590 Million to Boost Ownership in Marcellus Shale
Statoil ASA, Norway’s biggest oil and gas producer, bought 70,000 acres in the Marcellus area in the U.S. to boost oil production amid falling gas prices there.
The assets, which are currently producing at about 5,000 barrels of oil equivalent a day, have a so-called risked resource base, a measure of reserves, of 300 million to 500 million barrels of oil equivalent, the Stavanger-based group said in a statement today. The acreage in Ohio and West Virginia has been bought from Grenadier Energy Partners LLC, Protege Energy II LLC and PetroEdge Resources II LLC, spokesman Baard Glad Pedersen said by phone.
http://www.bloomberg.com/news/2012-12-19/statoil-pays-590-million-to-boost-ownership-in-marcellus-shale.html
The assets, which are currently producing at about 5,000 barrels of oil equivalent a day, have a so-called risked resource base, a measure of reserves, of 300 million to 500 million barrels of oil equivalent, the Stavanger-based group said in a statement today. The acreage in Ohio and West Virginia has been bought from Grenadier Energy Partners LLC, Protege Energy II LLC and PetroEdge Resources II LLC, spokesman Baard Glad Pedersen said by phone.
http://www.bloomberg.com/news/2012-12-19/statoil-pays-590-million-to-boost-ownership-in-marcellus-shale.html