Equinor sells its assets at U.S. Eagle Ford to Repsol for $325 million

 Equinor sells its assets at U.S. Eagle Ford to Repsol for 5 million

OSLO (Reuters) - Norway's Equinor agreed to sell its shale assets at the Eagle Ford shale formation in southwest Texas to Repsol for $325 million (£253.57 million), the Norwegian oil and gas firm said on Thursday.

The company holds around net 71,000 acres (28,733 hectares)in the formation via a joint venture with Spanish Repsol , and its equity production from the Eagle Ford averaged 43,000 barrels of oil equivalents per day (boepd) or 2% of its total global output in 2018.

In addition, Equinor holds stakes in some midstream assets in the area.

(Reporting by Lefteris Karagiannopoulos; Editing by Sandra Maler)

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Updated Date: Nov 08, 2019 03:05:55 IST