Statoil and Helge Lund are now big players in the oil & gas shale game….in the U.S. of all places. That’s primarily the result of two large joint ventures with Chesapeake in the Marcellus and Talisman in the Eagle Ford.
Mr. Lund (CEO) was in the states last week and took in parts of South Texas and the company’s JV operations with Talisman. The Norwegians are having to come to terms with issues like rattle snakes, the Texas drought, and high density onshore horizontal drilling. Shale drilling is much different than the major offshore fields the company is familiar with.
Statoil does not operate, but don’t expect it to stay that way forever. As a major player in other parts of the world, they’ll eventually want to put their feet on the ground and get the same first hand knowledge that is gained by owning the operations. [Read more…]