Norwegian operator Statoil has become the sole operator in the US Eagle Ford shale play after striking a number of deals with Repsol.
The company has acquired the Spanish players 13% interest in the acreage, as well as assuming operatorship of the BM-C-33 licence in Brazil’s Campos basin.
Statoil said it has also farmed down a 15% interest to Repsol in the Gudrun field on the Norwegian Continental Shelf.
It will still remain the operator and largest equity holder with a 36% interest.
The operator will also acquire a 31% equity share in the UK licence for Alfra Sentral, a field which spans the UK-Norway maritime border.
John Knight, Statoil’s executive vice-president for global strategy and business development, said: “We are delighted to be deepening our relationship with Repsol. In the current challenging market environment, these are innovative, value-enhancing transactions which will help control costs and strengthen Statoil’s portfolio for the long term.
“Statoil has ambitious goals for future activity, production and value creation on the Norwegian Continental Shelf and this deal supports our long term ambition.
“We are bringing a strong partner into Gudrun, an important NCS asset, and our increased interest in the Alfa Sentral development will strengthen our efforts to develop the important Sleipner area towards 2030”.