Statoil

Repsol, Statoil Announce Asset Swap Involving Eagle Ford and Norway Positions

December 11, 2015

No oil and gas companies were in attendance for Major League Baseball’s winter meetings (baseball’s equivalent of Christmas with its free agent signings, discussions, swaps and trades), but two industry giants independently agreed to a swap of their own on December 11, 2015. Norway’s Statoil (ticker: STO) and Spain’s Repsol (ticker: REPYY) will trade acreage positions in a non-cash, straightforward

Norway Offers New Acreage on its Continental Shelf for the First Time Since 1994

December 9, 2015

2011 treaty opens up new areas of exploration offshore Norway The Norwegian Ministry of Petroleum and Energy is expected to announce the rewards of the 23rd licensing round on the Norwegian continental shelf (NCS) late in the first half of 2016. The 23rd licensing round will include the first new acreage on the NCS offered by Norway since 1994. The

Statoil Bails on Alaska Offshore Leases, Citing Competitive Reasons

November 18, 2015

Sen. Murkowski: Obama Administration at Fault for “Project Killer” Regulations Statoil (ticker: STO) is closing the door on its Alaska operations, the company announced in a press release on November 17, 2015. The Norway-based exploration and production company plans to shut its office in Anchorage and will walk away from 16 operated and 50 non-operated leases in the Chukchi Sea.

Interior Department Puts Alaska Offshore Lease Programs on Ice

October 19, 2015

Arctic Offshore Leases Cancelled Through 2017; Shell, Statoil Fail to Extend Leases The Chukchi Sea’s 29 billion barrels (U.S. Bureau of Ocean Energy Management’s estimate of BOE) will have to wait for better times. The U.S. Department of Interior announced last Friday that it will put a halt to future auctions for the current leasing program, which runs through 2017. In

Russia is the World’s Largest Producer of Crude Oil and Lease Condensate – EIA

August 6, 2015

Russia produced roughly 10.9 MMBOPD in 2014 While the United States became the world’s largest producer of hydrocarbons in 2014, Russia remained the largest producer of crude oil and lease condensate, according to the U.S. Energy Information Administration (EIA). In 2014, the country produced an average of 10.9 MMBOPD of crude oil and condensate. Russia exported more than 4.7 MMBOPD

Statoil Julius Discovery Holds 15 to75 MMBOE of Recoverable Gas and Condensate

July 27, 2015

Statoil continues to delineate resources near King Lear discovery offshore in Norway Norway’s Statoil (ticker: STO) announced its 2/4-23S well (Julius) discovered gas and condensate in the Ula formation, offshore Norway in the North Sea, southeast of Stavanger. STO estimates that there is 15 to75 million barrels of oil equivalent (MMBOE) in the Julius discovery. Statoil also drilled the Julius