(CercleFinance.com) – Equinor announced Monday that it would exchange its project in shale formations in Ohio for an equity interest in the Northern Marcellus shale gas deposit.
Under the terms of the agreement, Equinor will transfer to the gas group EQT all of its activities, currently operated directly, in the extraction of shale hydrocarbons in the Appalachian basin.
In return, the Norwegian energy company will receive a 40% stake in the Northern Marcellus field (Pennsylvania), which is not operated by EQT Corporation.
The transaction must be accompanied by the payment by Equinor of a balance of 500 million dollars.
Since 2020, Equinor estimates that it has generated around $11 billion in profits from its operations in the United States. Its activities in Ohio were the last it held in the so-called ‘onshore’ businesses in the United States.
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