Company News: Statoil to acquire EnCana’s Gulf of Mexico assets

Staoil ASA has agreed to pay $2 billion for all of EnCana Corp.’s assets in the Gulf of Mexico, a decision that may be an attempt to counter declining reserves in the North Sea.The transaction, scheduled to close by June 1, makes the gulf region Statoil’s new core area, and reports indicate that this allows the European company to take steps toward participating in upcoming Gulf of Mexico licensing rounds in 2006-07.In other recent company news:• Marathon Oil Corp. agreed to pay an additional $700 million in a modified agreement with Ashland Inc. to acquire Ashland’s 38% interest in Marathon Ashland Petroleum LLC (MAP) to satisfy tax-related concerns.• Duke...

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.


Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected