Antero Resources Corp. (NYSE: AR) continued rounding up Marcellus Shale acreage in a deal with Statoil ASA (NYSE: STO) that includes interests in the same assets Antero seized in early summer, the company said Aug. 1.

Statoil said it will divest some of its nonoperated interests in West Virginia for about $96 million cash. Statoil’s net acreage included in the transaction is about 11,500 acres and its average working interest is 19%.

Statoil’s sales price is close to what Antero paid Southwestern Energy Co. (NYSE: SWN) in June in a deal to buy about 55,000 net acres in the core of the Marcellus Shale for $450 million.

Antero paid Statoil about $7,500 per acre, assuming $2,500 per flowing million cubic feet equivalent (MMcfe), said Guy Barber, senior research analyst for Piper Jaffray & Co. In June, it bought Southwestern’s acreage for roughly $8,000 per acre.

Statoil’s divestiture is “consistent with its strategy to monetize noncore assets and refocus operations around core assets and core competencies,” Barber said.

In May, Statoil sold West Virginia operations to EQT Corp. (NYSE: EQT) for $407 million cash. In December 2014, the company reduced its nonoperated southern Marcellus asset to 23% from 29% in a $394 million deal with Southwestern.

“The U.S. business is one of the focus areas in Statoil’s international strategy,” said Torgrim Reitan, executive vice president of Statoil’s Development and Production USA. “We will continue actively to manage the portfolio, optimize field developments, and step up efficiency improvements and cost reduction measures.”

In its divestiture to Antero, Statoil is selling acreage primarily in Wetzel, Tyler and Doddridge counties, W.Va., that is operated by Southwestern. Antero said in June it will likely put another rig in operation to focus primarily on Tyler.

In the Marcellus, Statoil retains its operated properties in Ohio and a 350,000 net acre nonoperated position.

In announcing the Southwestern deal in June, Antero had said a third party intended to exercise its tag-along rights and sign a definitive agreement for another $108 million. Pro forma for the acquisition, Antero's Marcellus leasehold position will include more than 480,000 net acres and 3P reserves of 34.7 Tcfe, assuming ethane rejection.

In total, the acquisition adds 625 identified 3P locations and enhances 435 existing 3P locations by incremental working interests, increased lateral lengths or both. The lateral length of the new or enhanced identified 3P locations averages 9,300 feet.

The transaction is expected to close in the third quarter.

Darren Barbee can be reached at dbarbee@hartenergy.com.