Repsol Buys Equinor out of Texas Producing Asset
November 08 2019 - 2:43AM
Dow Jones News
By Cristina Roca
Repsol SA (REP.MC) said late on Thursday that it has bought a
stake in Eagle Ford from Equinor ASA (EQNR.OS), gaining control of
100% of the Texas producing asset.
The Spanish energy company said it bought 63% of Eagle Ford for
$325 million. The purchase is in line with Repsol's 2018-2020
strategy which identifies North America as a key business area, and
is included in the company's planned upstream unit investments for
the period.
Total output at Eagle Ford after the agreement will reach about
54,000 barrels of oil equivalent a day, Repsol said.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
November 08, 2019 02:28 ET (07:28 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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