With the acquisition, the oil and gas company is set to become the operator of the acreage.

The assets in the acquired land currently produces 5,000 barrels of oil equivalents (boe) per day and is said to have risked resource base of about 300-500 million boe.

Statoil US onshore senior vice president Torstein Hole said the firm has acquired the acreage to further strengthen its US onshore portfolio.

"The US unconventional plays hold a substantial resource base and represent an increasingly important part of future energy supplies," Hole added.

"Statoil was an early entrant into shale and has over time built a diversified portfolio in some of the most attractive oil, gas and liquid-rich areas.

"We are already operator in Bakken, we are on schedule to become operator in Eagle Ford next year and with this transaction Statoil will become operator also in Marcellus. We will then be operator in all of our significant US shale plays."

It is believed that the market for the products from the liquids-rich Marcellus is better paying than the dry gas market in the US.

Statoil had entered the Marcellus in 2008 through a partnership with Chesapeake Energy and since then pursued a growth strategy to expand its presence as well as its US onshore holdings.