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

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Oil

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

Commodities | Agriculture | Grains | Energy | Electric Power | LNG | Natural Gas | Oil | Crude Oil | Metals | Coronavirus

Market Movers Americas, June 29-July 3: Rig count rises, but pandemic continues to pressure US commodities

Oil

Platts Market Data – Oil

Commodities | Agriculture | Biofuels | Oil

Geneva Biofuels Conference

Electric Power | Natural Gas | Oil | Crude Oil

Libya's NOC ready to lift force majeure from Es Sider to allow tanker loading

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