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 - Copyright Nerijus Adomaitis(Reuters)

By Reuters

Published on 07/11/2019 - 22:34•Updated 25/04/2024 - 16:06

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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.