Marathon Oil Corp. (NYSE: MRO) morphed into a sprinter by the end of 2016, streaking through a stellar A&D year that saw divestitures top $1.3 billion while adding more than 60,000 acres in Oklahoma’s Stack Play.The company said Feb. 16 it added a chip-in $155 million deal to sell assets in Wyoming, excluding closing costs. In fourth-quarter 2016, Marathon also closed on a $235 million sale of nonoperated CO2 and waterflood assets in West Texas and New Mexico. The company had previously announced the conventional CO2 and waterflood asset sales in October.Despite spending more than $900 million on acquisitions, including a deal in the Anadarko Basin Stack Play in 2016, Marathon ended December with $2.5 billion in cash and $5.8 billion of total liquidity, the company said.
[Read More …]
Source: Daily Dose of ShaleDirectories.com News