Oil and Gas

Marathon Oil Corporation Announces $3.5 Billion Acquisition of Eagle Ford Shale Assets

Company News

Bloomberg reports that Marathon Oil Corporation (NYSE:MRO) reaches a definitive agreement with Hilcorp Resources Holdings, LP to purchase the assets in the core of the Eagle Ford shale formation in Texas.

Bloomberg reports that Marathon Oil Corporation (NYSE:MRO) reaches a definitive agreement with Hilcorp Resources Holdings, LP to purchase the assets in the core of the Eagle Ford shale formation in Texas.

The market news is quoted as saying:

Hilcorp Resources Holdings is a partnership between affiliates of Hilcorp Energy Company and Kohlberg Kravis Roberts & Co. LP. Along with other transactions expected to close by the end of 2011, Marathon’s Eagle Ford acreage position is expected to more than double to 285,000 net acres.

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