{"id":9281,"date":"2024-11-01T10:54:34","date_gmt":"2024-11-01T10:54:34","guid":{"rendered":"https:\/\/eeegr.com\/?p=9281"},"modified":"2024-11-01T10:54:35","modified_gmt":"2024-11-01T10:54:35","slug":"equinor-strengthens-gas-portfolio","status":"publish","type":"post","link":"https:\/\/eeegr.com\/2024\/11\/01\/equinor-strengthens-gas-portfolio\/","title":{"rendered":"Equinor strengthens gas portfolio"},"content":{"rendered":"\n
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Equinor has signed an agreement with EQT Corporation to acquire additional non-operated interest in the Northern Marcellus formation in the US. Equinor will pay USD 1.25 billion to EQT in the transaction.<\/p>\n\n\n\n

Under the agreement, Equinor is acquiring 100% of EQT\u2019s remaining working interest in Northern Marcellus gas units primarily operated by Expand Energy.<\/p>\n\n\n\n

The transaction will increase cashflow from the international portfolio by adding natural gas volumes with low carbon intensity emissions from production.<\/p>\n\n\n\n

Subject to closing, the acquisition will have economic effect from 31 December 2024. The acquisition covers the same acreage included in the swap agreement with EQT announced earlier this year.<\/p>\n\n\n\n

With this transaction, Equinor is increasing its average working interest in the Northern Marcellus asset from 25.7% to 40.7%. The transaction adds approximately 80,000 barrels of oil equivalent per day (boe\/d) to Equinor\u2019s US production in the near-term.<\/p>\n\n\n\n

\u201cWe continue to high-grade Equinor\u2019s international portfolio in line with our strategy, improving robustness by adding more natural gas volumes in a core market where we produce with low break-evens and low intensity upstream emissions. We are well positioned in this premium acreage to capitalize on positive long-term demand indicators in the US gas market,\u201d says Philippe Mathieu, executive vice president for Exploration and Production International at Equinor.<\/p>\n\n\n\n

Equinor\u2019s E&P USA business has delivered over USD 5.5 billion in adjusted operating income after tax since the start of 2021.<\/p>\n\n\n\n

\u201cThe US is a core country for Equinor, where we have shaped a robust onshore and offshore oil and gas portfolio, alongside our activities in offshore wind, battery storage, and low-carbon value chains,\u201d says Mathieu.<\/p>\n\n\n\n

EQT Corporation is one of the largest producers of natural gas in the US with operations in Pennsylvania, West Virginia and Ohio.<\/p>\n\n\n\n

Closing of the transaction will, among other things, be dependent on approval by relevant authorities.<\/p>\n","protected":false},"excerpt":{"rendered":"

Equinor has signed an agreement with EQT Corporation to acquire additional non-operated interest in the Northern Marcellus formation in the US. Equinor will pay USD 1.25 billion to EQT in the transaction. Under the agreement, Equinor is acquiring 100% of EQT\u2019s remaining working interest in Northern Marcellus gas units primarily operated by Expand Energy. The […]<\/p>\n","protected":false},"author":4296,"featured_media":9283,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_eb_attr":"","ub_ctt_via":"","advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"categories":[54,53],"tags":[],"class_list":["post-9281","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-member_news","category-news"],"acf":[],"featured_image_src":"https:\/\/eeegr.com\/wp-content\/uploads\/2024\/11\/image.jpg","author_info":{"display_name":"Will Norris","author_link":"https:\/\/eeegr.com\/author\/will-norriseeegr-com\/"},"author_meta":{"display_name":"Will Norris","author_link":"https:\/\/eeegr.com\/author\/will-norriseeegr-com\/"},"featured_img":"https:\/\/eeegr.com\/wp-content\/uploads\/2024\/11\/image-640x320.jpg","coauthors":[],"tax_additional":{"categories":{"linked":["Member News<\/a>","News<\/a>"],"unlinked":["Member News<\/span>","News<\/span>"]}},"comment_count":"0","relative_dates":{"created":"Posted 2 months ago","modified":"Updated 2 months ago"},"absolute_dates":{"created":"Posted on 1 November 2024","modified":"Updated on 1 November 2024"},"absolute_dates_time":{"created":"Posted on 1 November 2024 10:54","modified":"Updated on 1 November 2024 10:54"},"featured_img_caption":"","series_order":"","_links":{"self":[{"href":"https:\/\/eeegr.com\/wp-json\/wp\/v2\/posts\/9281","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/eeegr.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eeegr.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eeegr.com\/wp-json\/wp\/v2\/users\/4296"}],"replies":[{"embeddable":true,"href":"https:\/\/eeegr.com\/wp-json\/wp\/v2\/comments?post=9281"}],"version-history":[{"count":2,"href":"https:\/\/eeegr.com\/wp-json\/wp\/v2\/posts\/9281\/revisions"}],"predecessor-version":[{"id":9284,"href":"https:\/\/eeegr.com\/wp-json\/wp\/v2\/posts\/9281\/revisions\/9284"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eeegr.com\/wp-json\/wp\/v2\/media\/9283"}],"wp:attachment":[{"href":"https:\/\/eeegr.com\/wp-json\/wp\/v2\/media?parent=9281"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eeegr.com\/wp-json\/wp\/v2\/categories?post=9281"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eeegr.com\/wp-json\/wp\/v2\/tags?post=9281"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}