Norway: Statoil to Pay $4.4bn for Brigham
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Wednesday, 19 October 2011 |
Statoil has announced that it will buy Brigham Exploration company for $4.4bn. Brigham’s board approved a $36.5bn all-cash offer for the company, which has substantial unconventional energy holdings in North America.
"Marcellus is primarily dry gas, Eagle Ford is a combination of dry gas and liquids and this (Brigham's assets) is oil. We now have a good, deep position in the U.S. in unconventionals," said Statoil Chief Executive Helge Lund, explaining the move.
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