Has anyone else heard of south west energy buy up some of statoil leases in monroe county, Ohio?
Southwest bought Chesapeake's leases in WV; Statoil had some interest in those leases and Southwestern bought some of the Statoil interest in those leases. Most of what the US media reports make it sound as if Southwest bought all of Statoil's interest.
Last week I read an article published in the English language financial newspaper "The Business Times" of Singapore that Statoil sold 6% of these holdings to Southwestern for 394 million; and kept 23% of their interest in these leases. The article also stated that Statoil has a stake in 615,500 acres in the Marcellus/Utica and only 91,400 acres are operated by Statoil.
To my knowledge none of the Statoil leases in Monroe County had any connection to Chesapeake so I don't think Southwest has any interest in Monroe County. I would post a link to the article, but it came through a service that has the subscription to the Singapore newspaper. Hope this helps.
Here is article that says Southwest bought interest from Statoil in 30,000 acres in WV and southwest PA.
Can you give me a reference to the article that mentions Monroe County? If Statoil sold some in Monroe, it is probably a percentage and not the entire acreage.
we tried to find the article but we had no luck. It did mention it was a small percentage