Statoil Establishes Eagle Ford Fund
International energy company, Statoil, announced the creation of a new fund to benefit the Eagle Ford Shale region of south Texas.
Related: Statoil in the Eagle Ford
Statoil Gulf Services LLC has established the Statoil Gulf Services LLC Advised Fund, which will provide grants to first responders and to schools with science, technology, engineering, and math (STEM) education programs within the Eagle Ford.
The fund will be managed by the Coastal Bend Community Foundation and will focus on activities in Bee, DeWitt, Karnes, Live Oak, LaSalle, and McMullen counties.
As a founding member of the South Texas Energy & Economic Roundtable (STEER), Statoil actively contributes to connecting the oil and natural gas industry to South Texas communities. Among their efforts include support of the Karnes County Eagle Ford Energy S.T.E.M. camp, and the Chisholm Trail Heritage museum and events such as George West Storyfest and Yorktown Western Days.
Statoil has been active in the Eagle Ford formation since 2010 through a joint venture. In 2013, they became operator of the eastern portion of the asset, and have since continued to improve our operations, reducing our footprint locally and becoming even more efficient. The company has approximately 71,000 net acres in the play.