Statoil (STO) strengthens its U.S. onshore portfolio with the purchase of 70K acres of Marcellus...

|About: Statoil ASA (STO)|By:, SA News Editor

Statoil (STO) strengthens its U.S. onshore portfolio with the purchase of 70K acres of Marcellus shale gas acreage from three unlisted U.S. energy companies for $590M. STO will become operator of the acreage, whose share of resources it estimates at 300M-500M boe.