Norway’s Statoil said Monday that it has sold some its non-core Marcellus acreage for $96 million.
Statoil said it will divest some of its non-operated interests in West Virginia to Antero Resources Corporation for about $96 million in cash.
Antero acquired Southwestern Energy Company’s interest in the same assets in June.
Statoil and Antero have agreed on a price equivalent to the price agreed on between Southwestern and Antero.
The Statoil acreage is primarily located in Wetzel, Tyler and Doddridge Counties and is operated by Southwestern.
The transaction includes about 11,500 acres of Statoil’s net acreage.
The company’s average working interest in the acreage is 19 percent.
Statoil said it will retain its operated Marcellus properties in Ohio and its 350,000 net acre non-operated position in the play.
The transaction is expected to close by the third quarter of 2016, subject to certain conditions being met.
Statoil reduced its working interest in its non-operated southern Marcellus asset from 29 percent to 23 percent in a $394 million transaction with Southwestern Energy in late 2014.
Earlier this year, Statoil divested from its operated properties in West Virginia to EQT Corporation for $407 million in cash.
“The US business is one of the focus areas in Statoil’s international strategy. We will continue actively to manage the portfolio, optimize field developments, and step up efficiency improvements and cost reduction measures,” Statoil executive vice president of Development and Production USA Torgrim Reitan said.