Statoil has agreed to divest its operated properties in the US state of West Virginia to EQT Corporation for USD 407 million in cash.
This divestment of non-core assets comprises approximately 62,500 net acres. Equity production from the properties in Q1 2016 was c.9,300 boe per day. Statoil retains its operated properties in the US state of Ohio and its non-operated Marcellus positions.
The transaction is expected to close in July 2016, subject to certain conditions being met.