Some 18 months after completing its $4.7 billion acquisition of independent Brigham Exploration, Norwegian major Statoil more than likes what it sees. The acquisition marked a major change for Statoil in US unconventionals. Previous forays had given the company non-operated positions in Appalachia's Marcellus Shale and the Eagle Ford Shale of South Texas (OD Nov.12'08). However Brigham, whose focus is on North Dakota's Bakken tight oil play, operated more than 80% of its reserve base, so the transaction put Statoil firmly into the driver's seat (OD Oct.18'11).
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