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  • Marathon Oil Completes Eagle Ford Acquisition
    édité le 28/12/2022 - Plus de news de "Marathon Oil" - Voir la fiche entreprise de "Marathon Oil"


Marathon Oil Completes Eagle Ford Acquisition
Marathon Oil Corporation announced the completion of its acquisition of the Eagle Ford assets of Ensign Natural Resources for a total cash consideration of $3.0 billion after taking into account closing adjustments. The acquisition was previously announced on November 2, 2022.

"We are pleased to announce the close of our acquisition of Ensign's high-quality assets in the core of the Eagle Ford Shale," said chairman, president, and CEO Lee Tillman. "This acquisition satisfies every element of our disciplined acquisition criteria. It's immediately accretive to our key financial metrics, it will drive higher shareholder distributions consistent with our operating cash flow driven Return of Capital framework, it's accretive to our inventory life with attractive locations that immediately compete for capital, and it offers truly compelling industrial logic given our existing Eagle Ford footprint and our track record of execution excellence in the play."

The assets acquired from Ensign Natural Resources (99% operated, 97% working interest) span Live Oak, Bee, Karnes, and Dewitt Counties across the condensate, wet gas, and dry gas phase windows of the Eagle Ford. Marathon Oil believes it can deliver maintenance level production from the acquired asset of 67,000 net boepd (22,000 net bopd of oil) with approximately 1 rig and 35 to 40 wells to sales per year. The Company's valuation of the asset was based off this maintenance level program and does not include any synergy credits or upside redevelopment opportunity. Acquired tangible assets are eligible for full expensing for the purpose of income tax optimization, including potential deferral of AMT.

About Marathon Oil

Marathon Oil (NYSE: MRO) is an independent oil and gas exploration and production (E&P) company focused on four of the most competitive resource plays in the U.S. - Eagle Ford, Texas, the Bakken, North Dakota, the STACK and SCOOP in Oklahoma and the Permian in New Mexico, complemented by a world-class integrated gas business in Equatorial Guinea.

Our Framework for Success is founded in a strong balance sheet, ESG excellence and the competitive advantages of our multi-basin portfolio.


Origine : Communiqué Marathon Oil

Voir la fiche entreprise de "Marathon Oil"



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