Equinor has announced the sale of its 63% stake in its Eagle Ford onshore operation in Texas to Repsol, which after the deal will become 100% owner and operator of the 69,000-acre site. The company said it had agreed a price with Repsol for the acquisition that was “significantly lower than what we were expecting”. Equinor and Talisman bought the Eagle Ford site in 2010, Repsol bought Talisman’s share in 2014 and Equinor subsequently increased its stake to 63%. Repsol has also bought a 20% share of Equinor’s Monument prospect in the Gulf of Mexico.
Equinor has announced the sale of its 63% stake in its Eagle Ford onshore operation in Texas to Repsol, which after the deal will become 100% owner and operator of the 69,000-acre site. Equinor said the disposal was part of its plans to optimise its onshore portfolio in the US, which was still a core area for it. Equinor and Talisman bought the Eagle Ford site in 2010, Repsol bought Talisman’s share in 2014 and Equinor subsequently increased its stake to 63%. Repsol has also bought a 20% share of Equinor’s Monument prospect in the Gulf of Mexico.