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Equinor ASA

Company Summary

Description

Equinor ASA is a Norwegian multinational energy company headquartered in Stavanger, Norway. It is a petroleum and wind energy company with operations in thirty-six countries. Formerly known as Statoil ASA.

Website

http://www.statoil.com/en/About/Worldwide/NorthAme...

Financial Data:

NYSE:STO from Google Finance

Tickers:

  • STO - New York Stock Exchange

Related Entities

Recent news

  • 4/15/2024 - EQT Announces Asset... (subscriber access)
  • 3/1/2024 - Equinor's Empire Wind 1... (subscriber access)
  • 3/1/2024 - New York Awards 1,700 MW... (subscriber access)
  • 2/29/2024 - Tanzania Delays Key... (subscriber access)
  • 2/23/2024 - Equinor's Empire Wind... (subscriber access)

Investor Presentations

  • 4Q22 Earnings Presentation
  • 4Q22 Earnings Presentation (subscriber access)
  • FY19/4Q19 Investor Presentation (subscriber access)
  • 1Q19 Investor Presentation (subscriber access)
  • 3Q18 Investor Presentation (subscriber access)
  • 2Q18 Investor Presentation (subscriber access)
  • 1Q18 CFO Presentation (subscriber access)
  • Fourth Quarter 2017 Corporate Presentation (subscriber access)
  • Third Quarter 2017 Earnings (subscriber access)
  • 2Q17 Investor Presentation (subscriber access)
  • 1Q17 Investor Presentation (subscriber access)
  • 2Q16 Investor Presentation (subscriber access)
  • 1Q16 Press Release with Supplementary (subscriber access)

Company Transactions

Date: 12/31/2023
Type: Acquisition

BUYERS:
  • OKEA AS
    • SELLERS:
  • Equinor ASA
    • ASSETS:
  • Statfjord Unit
    • DETAILS:

    COST: 200 $MM

    NOTES:
    Equinor, an offshore oil and gas operator on the Norwegian continental shelf, is making plans to divest 28% working interest in the PL037 Statfjord area to OKEA, which is a late-life operator in the same area. The deal is for USD $220 million, but will additionally include payment considerations based on oil and natural gas prices over a 3-year period.
    REGIONS:
  • Norwegian Continental Shelf

    • Date: 9/30/2022
    Type: Acquisition

    BUYERS:
  • Vermilion Energy, Inc.
    • SELLERS:
  • Equinor ASA
    • DETAILS:

    COST: 434 $MM

    NOTES:
    Vermilion Energy has entered into a deal to acquire Equinor's 36.5% interest in the Corrib Natural Gas Project for $434 million. The deal is expected to close in the second half of 2022, once all approvals have been secured.
    REGIONS:
  • Europe

    • Date: 3/31/2021
    Type: Acquisition

    BUYERS:
  • Grayson Mill Energy
  • Equinor ASA
    • SELLERS:
  • Equinor ASA
    • DETAILS:

    COST: 900 $MM

    VOLUMES: 48 MBOE/d

    ACRES: 242000 Acres

    NOTES:
    Equinor has reached a deal to divest its Bakken Shale assets to Grayson Mill Energy, backed by EnCap Investments, for $900 million. The asset covers 242,000 net acres and includes midstream infrastructure. Equinor was producing 48 Mbbl/d from the region in the fourth quarter of 2020.
    REGIONS:
  • Bakken

    • Date: 2/15/2021
    Type: Acquisition

    BUYERS:
  • BP PLC
    • SELLERS:
  • Equinor ASA
    • PROJECTS:
  • Empire Wind Development
  • Beacon Wind Project
    • DETAILS:

    COST: 1.1 $B

    VOLUMES: 2300 MW

    NOTES:
    Equinor will sell a 50% non-op stake in its Empire Wind and Beacon Wind projects on the U.S. east coast to BP for $1.1 billion. The deal is meant as a foundation for a go-forward strategic partnership between the two firms to develop US offshore wind assets.
    REGIONS:
  • Northeast

    • Date: 12/11/2020
    Type: Acquisition

    BUYERS:
  • Equinor ASA
    • SELLERS:
  • Rosneft
    • DETAILS:

    COST: 550 $MM

    NOTES:
    Equinor has reached a deal with Russia's Rosneft to acquire a 49% position in twelve onshore E&P licenses across eastern Siberia for $550 million. The licenses include the North Danilovsky development, which is on pace to produce 40 Mbbl/d by 2024 and then expand to 70 Mblb/d.
    REGIONS:
  • Russia

    • Date: 1/31/2020
    Type: Acquisition

    BUYERS:
  • Equinor ASA
  • Shell plc.
    • SELLERS:
  • Schlumberger Limited
    • DETAILS:

    COST: 330 $MM

    VOLUMES: 5 M Bbls/d

    ACRES: 56000 Acres

    NOTES:
    Equinor and Shell have bought Schlumberger's 49% stake in the Bandurria Sur onshore block of Argentina's Vaca Muerta Shale for $355 million. The block includes 56,000 gross acres and YPF is the operator with a 51% stake. Current production is 10 Mbbl/d.
    REGIONS:
  • Vaca Muerta

    • Date: 11/8/2019
    Type: Acquisition

    BUYERS:
  • Repsol SA
    • SELLERS:
  • Equinor ASA
    • DETAILS:

    COST: 325 $MM

    ACRES: 69000 Acres

    NOTES:
    Equinor has entered into a deal with Repsol to sell their 63% interest and operatorship in the Eagle Ford Shale, which covers 69,000 net acres. This will boost Repsol's position in the basin to 100% for $325 million.
    REGIONS:
  • Eagle Ford

    • Date: 11/8/2019
    Type: Acquisition

    BUYERS:
  • Repsol SA
    • SELLERS:
  • Equinor ASA
    • DETAILS:
    NOTES:
    Repsol is acquiring a 20% non-op stake in the Monument prospect located in the Northwest Walker Ridge area of the Gulf of Mexico,
    REGIONS:
  • Gulf of Mexico

    • Date: 8/21/2019
    Type: Acquisition

    BUYERS:
  • Equinor ASA
    • DETAILS:
    NOTES:
    Equinor has acquired a 50% stake in Argentina's largest offshore block, CAN 100, as part of its collaboration with YPF.
    REGIONS:
  • South America

    • Date: 7/31/2019
    Type: Acquisition

    BUYERS:
  • Equinor ASA
    • SELLERS:
  • Shell plc.
    • DETAILS:

    COST: 965 $MM

    VOLUMES: 22.45 Percent

    NOTES:
    Shell completed the sale of its 22.45% non-operated interest in the Caesar-Tonga asset in the Gulf of Mexico to Equinor for $965 million.
    REGIONS:
  • Gulf of Mexico

    • Date: 7/8/2019
    Type: Acquisition

    SELLERS:
  • Equinor ASA
    • DETAILS:

    COST: 1.56 $B

    VOLUMES: 16 Percent

    NOTES:
    Equinor sold a 16% stake in Lundin Petroleum for roughly $1.56 billion.

    Date: 7/8/2019
    Type: Acquisition

    BUYERS:
  • Equinor ASA
    • PROJECTS:
  • Johan Sverdup Phase I
  • Johan Sverdup Phase II
    • DETAILS:

    COST: 910 $MM

    VOLUMES: 2.6 Percent

    NOTES:
    Equinor acquired an additional 2.6% interest in the Johan Sverdup oilfield for $910 million.
    REGIONS:
  • North Sea

    • Date: 3/30/2019
    Type: Acquisition

    BUYERS:
  • Equinor ASA
    • DETAILS:

    COST: 24.5 $MM

    NOTES:
    Equinor spent $24.5 million for the Mississippi Canyon/801 block in the U.S. Gulf of Mexico.
    REGIONS:
  • Gulf of Mexico

    • Date: 1/1/2019
    Type: Acquisition

    BUYERS:
  • DNO ASA
  • Faroe Petroleum PLC
    • SELLERS:
  • Equinor ASA
    • DETAILS:
    NOTES:
    DNO ASA reported the completion of the asset swap agreement between Equinor and Faroe Petroleum, DNO ASA's subsidiary, in which Faroe Petroleum's interests in the non-producing Njord and Hyme red redevelopment and Bauge development assets were exchanged for interests in four Equinor-held producing assets on a cashless basis.
    REGIONS:
  • North Sea

    • Date: 1/1/2019
    Type: Acquisition

    BUYERS:
  • Equinor ASA
    • DETAILS:

    COST: 965 $MM

    VOLUMES: 23.45 Percent

    NOTES:
    Equinor exercised its preferential rights to acquire an additional 22.45% interest in the Caesar Tonga oil field from Shell Offshore for $965 million, increasing its interest from 23.55% to 46.00%.
    REGIONS:
  • Gulf of Mexico

    • Date: 12/31/2018
    Type: Acquisition

    BUYERS:
  • Aker BP
    • SELLERS:
  • Equinor ASA
    • DETAILS:

    COST: 250 $MM

    NOTES:
    Aker BP has acquired Equinor's 77.8% interest in the King Lear gas/condensate discovery in the Norwegian North Sea for $250 million. According to data from the Norwegian Petroleum Directorate, net recoverable resources in the King Lear discovery is roughly 77 MMboe. Aker BP estimates a total resource addition of more than 100 MMboe, including increased oil recovery potential from the Ula field.
    REGIONS:
  • North Sea

    • Date: 12/31/2018
    Type: Acquisition

    BUYERS:
  • Equinor ASA
    • SELLERS:
  • Chevron Corporation
    • DETAILS:
    NOTES:
    Equinor will purchase Chevron's 40% operating interest in the Rosebank project, one of the largest undeveloped fields on the UK Continental Shelf.
    REGIONS:
  • North Sea

    • Date: 12/14/2018
    Type: Acquisition

    BUYERS:
  • Equinor ASA
    • DETAILS:

    COST: 135 $MM

    ACRES: 128811 Acres

    NOTES:
    Equinor reported a winning bid of $135 million for one of three lease areas in the online offshore wind auction on December 14, 2018. The lease area, OCS-A 0520, is a 128,811-acre site.

    Date: 9/24/2018
    Type: Acquisition

    BUYERS:
  • Equinor ASA
    • SELLERS:
  • TEXEGY, LLC
    • DETAILS:
    NOTES:
    Equinor has entered into a deal to lease a portion of TEXEGY's Austin Chalk minerals assets, making them the operator of a substantial portion of TEXEGY's holdings in the Burr Ferry Field of Vernon Parish, Louisiana.
    REGIONS:
  • Austin Chalk

    • Date: 6/30/2018
    Type: Acquisition

    BUYERS:
  • ExxonMobil Corporation
  • Galp Energia
    • SELLERS:
  • Equinor ASA
    • DETAILS:

    COST: 250 $MM

    NOTES:
    Statoil reported that once the acquisition of a 10% stake in the BM-S-8 Block from Queiroz Galvão Exploração e Produção closes, they will divest a 3.5% stake in the block to Exxon and a 3% stake to Galp for $250 million. Upon closing of this transaction, and several others, Statoil and Exxon will each own a 36.5% interest in the BM-S-8 Block and Galp will own 17%.
    REGIONS:
  • Santos Basin

    • Date: 6/6/2018
    Type: Acquisition

    BUYERS:
  • ExxonMobil Corporation
    • SELLERS:
  • Equinor ASA
    • DETAILS:

    COST: 800 $MM

    NOTES:
    ExxonMobil has entered into a deal to acquire half of Statoil's 66% interest in the BM-S-8 block of offshore Brazil for an upfront cash payment of $800 million and contingent payments of up to $500 million
    REGIONS:
  • South America

    • Date: 12/31/2017
    Type: Acquisition

    BUYERS:
  • Equinor ASA
    • SELLERS:
  • Queiroz Galvão Exploração e Produção S.A.
    • DETAILS:
    NOTES:
    Acquiring a 10% interest in Block BM-S-8 in Brazil
    REGIONS:
  • Santos Basin

    • Date: 3/30/2017
    Type: Acquisition

    BUYERS:
  • Athabasca Oil Corp
    • SELLERS:
  • Equinor ASA
  • Statoil Canada
    • ASSETS:
  • Cheecham Terminal (Acq. from Athabasca)
  • Waupisoo Heavy Oil Pipeline
  • Leismer to Cheecham Pipeline
  • Leismer Thermal Oil Project
    • PROJECTS:
  • Leismer Oil Sands Expansion Project
  • Corner Oil Sands Project
    • DETAILS:

    COST: 582 $MM

    VOLUMES: 23.5 M Bbls/d

    NOTES:
    Athabasca Oil Corp. acquired Canadian Thermal Oil assets for purchase price of $582 million from Statoil ASA and its subsidiary Statoil Canada.
    REGIONS:
  • Canada

    • Date: 7/27/2016
    Type: Acquisition

    BUYERS:
  • Equinor ASA
    • SELLERS:
  • Lundin Petroleum AB
    • DETAILS:
    NOTES:
    Statoil boosted their ownership in Lundin to 20.1%
    REGIONS:
  • North Sea

    • Date: 7/27/2016
    Type: Acquisition

    BUYERS:
  • Equinor ASA
    • SELLERS:
  • JX Nippon Oil & Energy
    • DETAILS:
    NOTES:
    Statoil purchased a 45% share in the Utgard Field from JX Nippon during 2Q16
    REGIONS:
  • North Sea

    • Date: 7/8/2016
    Type: Acquisition

    BUYERS:
  • EQT Corporation
    • SELLERS:
  • Equinor ASA
    • DETAILS:

    COST: 407 $MM

    VOLUMES: 50 Mmcfe/d

    ACRES: 62500 Acres

    REGIONS:
  • Marcellus Shale