Marathon Oil announces divestiture & acquisition

Marathon Oil Corporation has announced it has signed an agreement to sell its Canadian subsidiary, which includes a 20 percent non-operated interest in the Athabasca Oil Sands Project (AOSP), to Shell and Canadian Natural Resources Limited for USD $2.5 billion in cash, excluding closing adjustments.

Marathon Oil also announced the signing of a definitive agreement to acquire approximately 70,000 net surface acres in the Permian basin from BC Operating, Inc. and other entities for USD $1.1 billion in cash, excluding closing adjustments. The acquisition includes 51,500 acres in the Northern Delaware basin of New Mexico and current production of approximately 5000 net boe/d.

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