Statoil entered the Eagle Ford through a JV agreement with Talisman Energy when the companies jointly acquired Enduring Resources' acreage in 2010. The deal also gave Statoil a piece of Talisman's acreage acquired from Common Resources. Statoil plans to takeover operations of it's portion of the JV from Talisman in June of 2013.
The two companies added to their acreage in June of 2011 when the partnership acquired an additional 15,400 acres in La Salle County and Dimmit County. Read more about the deal in our news article SM Energy Eagle Ford Shale Deal with Talisman and Statoil. The partnership paid $225 million $(14,600 per acre) for the acreage that is prospective for the wet gas and condensate window of the Eagle Ford Shale.
Statoil is an oil and gas company based in Stavanger, Norway. Statoil stock is listed on the Oslo Stock Exchange under the ticker symbol STL and on the New York Stock Exchange under the symbol STO. Statoil operates in Norway, the UK, Canada, Southeast Asia, North Africa and the United States. The company also has a partnership with Chesapeake Energy in the Marcellus Shale.
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Counties Where Statoil is Active
- Bee County
- DeWitt County
- Dimmit County
- Frio County
- Karnes County
- LaSalle County
- Live Oak County
- McMullen County
- Webb County
Statoil Eagle Ford Shale Quarterly Commentary
Statoil announces it will acquire from Repsol a 13% interest in the Eagle Ford joint venture and becomes its sole operator. This will allow for more optimal field development, efficient operations and cost savings, and thus more resilience to low oil prices.
In the summer of 2013, Statoil plans to take over operations of 50% of the acreage owned in the JV with Talisman Energy.
February 7, 2013
Statoil's working interest across the play varies considerably. The company produced a total of 18,200 net boe/d in the fourth quarter of 2012. Approximately 52% of the company's production is considered liquids.
Statoil's 50% interest in it's JV with Talisman in the Eagle Ford produced 13,700 boe/d net to the company in the second quarter of 2012.
October 27, 2011
In 2011, we have started at Pazflor and Peregrino as well as ramping up Leismer in Canada and increase production from Eagle Ford and Marcellus.
The start-up of Leismer and Peregrino and ramp-up of Marcellus and Eagle Ford contributes to cost increases. The high activity level will impact our costs going forward as well.
July 28, 2011
"Strengthened position in Eagle Ford through acquiring new leases."