The Åsgard B platform in the Norwegian Sea. (Source: Equinor)
Equinor has agreed to acquire Sval Energi’s 11.8% share in the Halten East project, the Norwegian company announced Nov. 7. This acquisition increases Equinor’s ownership in the development to 69.5%.
Approved in May 2022 and on track to start production in 2025, Halten East is an ongoing offshore development located in the Kristin-Åsgård area in the Norwegian Sea.
The development consists of six gas discoveries and three prospects, which will use the existing infrastructure and processing capacity at the Åsgard B platform. The project’s recoverable reserves are estimated to be around 100 MMboe, with 60% being gas that will be exported to Europe via the Kårstø processing plant.
The first phase of the project, which will be carried out between 2024 and 2025, will consist of drilling six wells for five discoveries. The second phase, which will begin in 2029, includes a sidetract to one discovery and three optional wells for the prospects.
Equinor is the owner and operator of the Halten East, with Vaar Energi holds 24.6% and Norway’s Petoro holding the remaining 5.9%.
Recommended Reading
Atlas Energy Solutions to Acquire OFS Power Company Moser for $220MM
2025-01-27 - Atlas Energy Solutions said it will purchase Moser Energy Systems in a cash-and-stock deal that adds power services in the company’s core Permian Basin operating area.
Crescent Energy Bolts On $905MM Central Eagle Ford Acreage
2024-12-03 - Crescent Energy will purchase Eagle Ford assets from Carnelian Energy Capital Management-backed Ridgemar Energy for $905 million, plus WTI-based contingency payments of up to $170 million.
Innovex Closes $104MM Acquisition of Downhole Well Solutions
2024-12-02 - Innovex International paid $103.7 million in cash and stock for Downhole Well Solutions, according to a Securities and Exchange Commission filing.
Constellation Bets Big on NatGas in $16.4B Deal for Calpine
2025-01-10 - Constellation Energy will acquire Calpine Corp. in a $26.6 billion deal, including debt, that will give the pure-play nuclear company the largest natural gas power generation fleet.
CNX’s $505MM Bolt-On Adds Marcellus, Deep Utica in Pennsylvania
2024-12-05 - CNX Resources CEO Nick Deluliis said the deal to buy Apex Energy underscores CNX’s confidence in the stacked pay development opportunities unlocked in the deep Utica.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.