Equinor sells US Eagle Ford asset
Equinor has signed an agreement to sell its 63% interest in, and operatorship of, its Eagle Ford asset onshore Texas, US, to the project’s joint venture partner Repsol for $325mn.
‘This transaction supports Equinor’s strategy to optimise our onshore US portfolio, enhancing our financial flexibility and focusing our capital on our core activities in the country,’ says Torgrim Reitan, Executive Vice President for Development and Production International, Equinor. ‘The US is a core area for Equinor, demonstrated by recent acquisitions including assets in the Gulf of Mexico, onshore acreage in the Austin Chalk and the Empire Wind project offshore New York.’
In a separate agreement, 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 plans to commence drilling a well before the end of the year.
Eagle Ford, Texas
Photo: Equinor/Ole Jørgen Bratland