Norway’s Statoil Shopping for More Shale Acreage in U.S.
Reuters is reporting that Norwegian energy giant Statoil is on the hunt for more shale acreage in the U.S. Does that mean Statoil is looking to pick up more acreage in the Marcellus or Utica Shale area?
“Way back” in 2008, Statoil purchased a 32.5% interest in Chesapeake Energy’s Marcellus Shale acreage, buying them 600,000 net acres at the time (according to the MDN’s Marcellus and Utica Shale Databook, Vol. 1). But just a few months ago, MDN reported that Statoil was moving away from “dry gas” areas and to “wet gas” and “oily” areas, like the North Dakota’s Bakken Shale (see this MDN story).