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Total sells its Midstream Utica assets to a group of Korean companies


Published Sep 25, 2014
Total S.A.

Total's affiliate, Total E&P USA, has signed an agreement to sell its 25% interest in Cardinal Gas Services LLC, a midstream company in Ohio's Utica shale play, to E1 Corporation and a consortium led by Samchully, both from Korea, for 400 million dollars plus an estimated price adjustment of 50 million dollars.

'The sale of this non strategic asset reflects the Group's active portfolio management and enables us to unlock value while continuing with the development of our resources in the Utica basin as planned' said Olivier de Langavant, Senior Vice President Strategy Business Development R&D at Total Exploration and Production.

Tags: Total




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