Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

In this list
Oil

Repsol buys Equinor's Eagle Ford shale stake for $325 million

LNG | NGL | Oil | Crude Oil | Petrochemicals | Shipping

Gains in WTI, robust petrochemical demand add strength to US NGLs

Electric Power

Platts Forward Curves – Gas and Power

Electric Power | Renewables | LNG | Infrastructure Utilities

Caribbean Energy Conference, 21st

Oil | Crude Oil | Refined Products | Coronavirus

Crude slides more than 2% amid stronger dollar, Chinese lockdowns

Emissions | LNG | Natural Gas | Oil | Steel | Raw Materials | Containers

Commodity Tracker: 7 charts to watch this week

Repsol buys Equinor's Eagle Ford shale stake for $325 million

London — Spain's Repsol has agreed to buy Equinor's equity position in US Eagle Ford shale basin for $325 million in a deal giving it 100% control and operatorship of the shale assets, the companies said late Thursday.

Under the deal, Repsol said it will acquire 69,000 net acres and 34,000 b/d of oil equivalent production taking its total output at Eagle Ford to 54,000 boe/d.

"The added stake in this asset will allow improvements in operations and synergies, and progress in the achievement of strategic goals associated to portfolio upgrading, profitable growth and increased returns," Repsol said in a statement.

Equinor entered the Eagle Ford asset in 2010 through a joint acquisition with Talisman Energy, which is now owned by Repsol. In 2015, Equinor increased its interest in the joint asset from 50% to 63% and assumed full operatorship.

In a separate agreement, Equinor said that Repsol will acquire a 20% non-operated interest in the Monument prospect that Equinor is drilling in the Northwest Walker Ridge area in the Gulf of Mexico.

Equinor said it plans to commence drilling the well before the end of the year.

-- Robert Perkins, robert.perkins@spglobal.com

-- Edited by Norazlina Jumaat, norazlina.jumaat@spglobal.com