Equinor: sells 63% stake in Texas onshore asset

(CercleFinance.com) - Equinor has signed an agreement to sell Repsol its 63% stake in its onshore asset Eagle Ford in Texas.
After the deal, the Norwegian energy firm will no longer operate the project.

Equinor will sell its entire stake in the asset, which covers 69,000 net acres. Following this transaction Repsol will own 100% of the asset.

The deal is worth 325 million dollars.

The move comes as part of Equinor's strategy to optimise its onshore US portfolio, by improving financial flexibility and focusing capital on core projects.

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