Statoil

A judge on the West Virginia Supreme Court of Appeals ruled that a dispute between a unit of Norway’s Statoil ASA and four counties over nearly $7 million in property taxes the company claims it overpaid must be handled in the county court system.

Statoil ASA has filed a lawsuit against Marshall County, WV, to recover about $350,000 it overpaid for property taxes last year.

Marshall County, WV, has denied Statoil ASA’s request that a roughly $353,000 property tax overpayment be refunded. Statoil said the overpayment resulted from a clerical error when it used production estimates instead of actual volumes to calculate its 2015 payment. State law does permit refunds for such clerical errors, but the West Virginia Tax Department told county commissioners that the company’s miscalculation was a matter of negligence. The commissioners voted 2-1 last month to deny the refund.

A 19-month exploration program offshore Newfoundland in the frontier Flemish Pass Basin has yielded two more discoveries, strengthening the promise for future development in Eastern Canada’s offshore, Statoil ASA said.

Statoil ASA has agreed to sell all of its operated properties in West Virginia to EQT Corp. for $407 million in cash, the company said late Monday.

Statoil ASA has agreed to sell all of its operated properties in West Virginia to EQT Corp. for $407 million in cash, the company said late Monday.

Senior executives at Norway’s Statoil ASA, the fifth largest Bakken Shale producer, on Thursday said the company’s production has dropped about 10% in North Dakota, but it plans to reactivate some hydraulic fracturing (fracking) crews there.

Senior executives at Norway’s Statoil ASA, the fifth largest Bakken Shale producer, on Thursday said the company’s production has dropped about 10% in North Dakota, but it plans to reactivate some hydraulic fracturing (fracking) crews there.

Repsol is divesting a portion of its stake in the Eagle Ford Shale in an asset swap with Norway’s Statoil in which the former will acquire a 15% stake in a Norwegian field.