Statoil’s Eagle Ford position isn’t going to get any smaller. Actually, count them in the pool of buyers when it comes to acreage. The company has only been a JV partner to date, but expect that to change with the corporate acquisition of Brigham Exploration. You can bet Statoil’s cashflow will be used to expand the company’s operated footprint in plays like the Bakken, Eagle Ford, and Marcellus.
“We are still looking in the Eagle Ford,” said Helge Haldorsen, head of North American Strategy for Statoil. “We want to cash in on the learning curve.” [Read more…]