Marathon pays top whack for Eagle

摘要

Marathon Oil has paid $3.5 billion for Eagle Ford Shale assets that hold an estimated 400 million to 500 million barrels of oil equivalent, netting the seller a handsome return. CEO Clarence Cazalot called the purchase from Hilcorp Resources Holdings "a transformational acquisition for the company" that will more than double Marathon's current Eagle Ford acreage to 285,000 acres and make the liquids-rich play a cornerstone of its future as a pure-play exploration-and-production company. That new future is set to begin June 30 with the spinoff of Marathon's refining business.