“Statoil entered into the Eagle Ford Shale in 2010, through a 50/50 joint venture with Talisman Energy USA Inc. Talisman initially acted as operator for the jointly owned acreage, under an agreement where Statoil was to attain operatorship for half the acreage at a later stage,” the company said in a press release.
The time has come for Statoil to take over the operatorship, and it has been laying the groundwork for the transition over the last several years to make it as smooth as possible.
The main operating areas that Statoil will be controlling are in Live Oak, Karnes, DeWitt and Bee counties.
“The transition that was agreed with Talisman for Eagle Ford was structured to minimize the impact on ongoing operations and maintaining the significant momentum that has been achieved by Talisman,” said Ola Morten Aanestad, vice president of communications for Statoil. “The division that we now have agreed on allows for acreage continuity and is substantially an equal division of assets and activity.
“The division plays to the strengths of both organizations, maximizing value to the partnership.”
Aanestad explained that the company which typically has maintained offshore assets is ready to accept the challenge that the Eagle Ford poses.
“The sub-surface in the Eastern acreage is technically challenging, being both high pressure and temperature,” she said. “Statoil’s Houston organization is prepared to handle this acreage and convinced Statoil can add value for the partnership by leveraging the company’s technical competency.”
The company has additionally added other onshore assets and has “expanded its presence in U.S. shale plays, and we are now operating both in Bakken (North Dakota) and in the Marcellus (Ohio/West Virginia).”
“As a company, Statoil is operator for a very large production, mainly offshore,” Aanestad said. “We are a technology-focused company, and always looking for ways to improve, and being the operator gives us the opportunity to apply technology and continuously seek improvements.”
The Statoil operations in the eastern Eagle Ford include a field office in Runge and three rigs. Future plans have not been communicated at this time.