BREAKING NEWS

Equinor sells its assets at U.S. Eagle Ford to Repsol for $325 million

Equinor sells its assets at U.S. Eagle Ford to Repsol for $325 million
FILE PHOTO: The logo of Equinor, formerly known as Statoil, at the company's headquarters in Fornebu, Norway, May 21, 2018. REUTERS/Nerijus Adomaiti -
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Nerijus Adomaitis(Reuters)
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OSLO (Reuters) – Norway’s Equinor <EQNR.OL> agreed to sell its shale assets at the Eagle Ford shale formation in southwest Texas to Repsol <REP.MC> for $325 million (£253.57 million), the Norwegian oil and gas firm said on Thursday.

The company holds around net 71,000 acres (28,733 hectares)in the formation via a joint venture with Spanish Repsol <REP.MC>, and its equity production from the Eagle Ford averaged 43,000 barrels of oil equivalents per day (boepd) or 2% of its total global output in 2018.

In addition, Equinor holds stakes in some midstream assets in the area.

(Reporting by Lefteris Karagiannopoulos; Editing by Sandra Maler)

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