Norwegian

StatoilHydro has added to its sizable stake in the Gulf of Mexico (GOM) by acquiring a 40% interest from BHP Billiton Ltd. in 50 offshore blocks. The offshore acreage acquired by the Norwegian-based producer is located in the northeastern corner of the deepwater GOM in the under-explored DeSoto Canyon. DeSoto Canyon is located east of the Independence Hub, which serves several natural gas producers in the region, including Statoil (see NGI, Dec. 25, 2006). Statoil, among other things, owns a quarter stake in Walker Ridge Block 758, located in the promising Lower Tertiary of the deepwater GOM. In 2006 Statoil, Chevron Corp. and Devon Energy Corp. completed the deepest extended drill stem test in history at the prospect on Jack No. 2 well (see NGI, Sept. 11, 2006). In the March Central GOM Lease Sale 208, U.S.-based subsidiary Statoil Gulf of Mexico LLC was high bidder at $14.29 million for Keathley Canyon Block 698, which is located in water depths more than 2,000 feet (see NGI, March 23).

Chesapeake Energy Corp. closed its Marcellus Shale joint venture transaction with Norwegian producer StatoilHydro ASA. The transaction was announced in mid-November (see Daily GPI, Nov. 12). Chesapeake sold 32.5% of its Marcellus leasehold to StatoilHydro for $3.375 billion, with $1.25 billion received in cash at closing and $2.125 billion set aside to fund 75% of Chesapeake’s drilling and completion costs in the shale between 2009 and 2012. Prior to the transaction Chesapeake had 1.8 million net acres in the leasehold; StatoilHydro now owns 600,000 net acres. StatoilHydro also has the right to a 32.5% participation in any additional stake that Chesapeake acquires in the play.

Just a day after StatoilHydro ASA announced a deal to expand its presence in U.S. natural gas markets, the Norwegian producer moved to build its presence in the deepwater Gulf of Mexico (GOM) and in Brazil in a $1.8 billion agreement with Anadarko Petroleum Corp.

Port Dolphin Energy LLC, the U.S. subsidiary of the Norwegian company Hoegh LNG AS, has submitted applications to federal regulators to build and operate a deepwater port to deliver natural gas to Florida’s west coast.

Port Dolphin Energy LLC, the U.S. subsidiary of the Norwegian company Hoegh LNG AS, has submitted applications to federal regulators to build and operate a deepwater port to deliver natural gas to Florida’s west coast.

Houston-based Anadarko Petroleum Corp. continues its divestiture plan with a deal struck with Statoil for the Norwegian company to pay Anadarko $901 million for its interests in and around two deepwater Gulf of Mexico discoveries and one prospect. The transaction may be structured as a joint venture as opposed to sale.

Norwegian-based TORP Technology hopes to be the Gulf Coast’s low-cost liquefied natural gas (LNG) terminal operator when its proposed $400 million offshore Alabama regasification project enters service in about three years. An application for a deepwater port license for TORP’s Bienville Offshore Energy Terminal was filed earlier this month with the Coast Guard and Maritime Administration.

Norwegian-based TORP Technology announced last week that it has completed financing for a $400 million liquefied natural gas (LNG) terminal to be located 50 miles offshore Dauphin Island, AL. TORP officials now plan to file regulatory documents in 4Q2005, with planned startup in early 2009.

Norwegian-based TORP Technology said Monday that it has completed financing for a $400 million liquefied natural gas (LNG) terminal that would be located 50 miles offshore Dauphin Island, AL. TORP officials now plan to file regulatory documents in 4Q2005, with planned startup in early 2009.