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Repsol divests Eagle Ford stake and acquires Norwegian producing assets
Press Release
11/12/2015 15:00
- Statoil will acquire a 13% stake in the Eagle Ford Joint Venture from Repsol, which retains a 37% participation.
- At the same time, Repsol acquires a 15% stake in Norway’s producing Gudrun field.
- The transaction reduces Repsol’s capex needs and generates a positive free cash flow of 500 million euros in the 2015-2017 period.
- The deal announced helps deliver the objectives outlined in Repsol’s 2016-2020 Strategic Plan, including cash generation, capex reduction, efficiencies and synergies, while generating value for the company.