Statoil-Hydro

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-	In November, 2008 a report appeared in which [[Chesapeake Energy|Chesapeake]] sold 32.5% of it's 1.8 million net acre [[Marcellus shale]] leasehold to Norway-based '''Statoil-Hydro''' (STL.OL) for $3.375 billion. These funds will be used to pay 75% of Chesapeake's 67.5% share of development and completion expenses.	+	Stavanger, Norway-based '''Statoil-Hydro''' (NYSE: STO), an integrated oil and gas company, in November, 2008 purchased 32.5% of [[Chesapeake Energy|Chesapeake Energy's]] 1.8 million net acre [[Marcellus shale]] leasehold for $3.375 billion. The two companies have entered into a joint venture wherein they will jointly explore the Marcellus drilling rights purchased by Statoil-Hydro in the deal.
-	Andy Winkle is Vice President of Onshore Gas for Statoil-Hydro.	+	* Helge Lund is Statoil's CEO
		+	* Eldar Saetre is the company's CFO.
		+	* Andy Winkle is Vice President of Onshore Gas.

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Revision as of 05:29, 22 February 2009

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Stavanger, Norway-based Statoil-Hydro (NYSE: STO), an integrated oil and gas company, in November, 2008 purchased 32.5% of Chesapeake Energy's 1.8 million net acre Marcellus shale leasehold for $3.375 billion. The two companies have entered into a joint venture wherein they will jointly explore the Marcellus drilling rights purchased by Statoil-Hydro in the deal.

* Helge Lund is Statoil's CEO

• Eldar Saetre is the company's CFO.
• Andy Winkle is Vice President of Onshore Gas.