Statoil said it has agreed to sell a number of non-core assets in its US onshore portfolio in a $96million deal.
The move is the third in the southern Marcellus in the last two years.
The Norwegian operator will make the sale to Antero Resource Corporation.
The acreage is located in Wetzel, Tyler and Doddridge Counties and is operated by Southwestern.
Statoil’s net acreage included in this transaction is approximately 11,500 acres and its average working interest is 19%.
Torgrim Reitan, executive vice president of Development and Production USA, said: “The US business is one of the focus areas in Statoil’s international strategy. We will continue actively to manage the portfolio, optimise field developments, and step up efficiency improvements and cost reduction measures.”
In the Marcellus Statoil retains its operated properties in the US state of Ohio and its 350,000 net acre non-operated position.
The transaction is expected to close by the third quarter of 2016, subject to certain conditions being met.