Statoil is reportedly set to sell off about 230 onshore wells in the US as it looks to shed gas producers following a plunge in North American natural gas prices.
The Norwegian state oil company aims to dispose of the
oil and gas wells, located in the Anadarko basin in Oklahoma and along the US Gulf Coast in
Louisiana and Texas, in a 14 November auction, company spokesman Morten
Aanestad told Dow Jones.
The tally will include 180 onshore natural gas wells that
Statoil gained through its $4.4 billion acquisition of US unconventional player
Brigham Exploration last year.
The crash in North American gas prices, resulting from a
supply glut due to the boom in shale production, has rendered such assets
unprofitable with regional producers cutting back on their gas exposure.
Statoil will also put up for sale “shortly” another two
packages, including natural gas wells spread over 7500 gross acres in Brooks
County, Texas, and 10,000 gross acres in the Permian basin area of West Texas, Aanestad