Two energy giants trade assets that will include acreage in the Eagle Ford.

Related: Repsol Moves into the Eagle Ford

Repsol and Statoil have agreed to a non-cash swap of  worldwide operations including offshore interests in Brazil and the UK/Norway and onshore operations in the Eagle Ford Shale and Norway.

After the deal is complete, Statoil will acquire a 13% interest in the Eagle Ford joint venture from Repsol, becoming sole operator of  the 118,000 net acres held by the JV. According to the press release, this move will allow for more optimal field development, efficient operations and cost savings.

Repsol moved into the Eagle Ford with its acquisition of Talisman Energy in June 2015.  The company is giving up this position in exchange for a 5% interest in the Gudrun Field on the Norwegian Continental Shelf.