Statoil-Hydro

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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|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.		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.
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		+	According to a June, 2009 report StatoilHydro and Chesapeake had drilled seven wells together during the first half of 2009, slightly fewer than expected according to a StatoilHydro spokesman.
	* Helge Lund is Statoil's CEO		* Helge Lund is Statoil's CEO

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Revision as of 21:21, 18 June 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.

According to a June, 2009 report StatoilHydro and Chesapeake had drilled seven wells together during the first half of 2009, slightly fewer than expected according to a StatoilHydro spokesman.

• Helge Lund is Statoil's CEO
• Eldar Saetre is the company's CFO.
• Andy Winkle is Vice President of Onshore Gas.
• Peter Mellbye is Head of International Exploration and Production.