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Marathon Oil signs agreement for divestiture of Gulf of Mexico assets

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Staff writer ▼ | November 10, 2015
Marathon Oil
Energy business   Marathon Oil will retain its interests in certain producing assets

Marathon Oil has signed an agreement for the sale of its operated producing properties in the greater Ewing Bank area and non-operated producing interests in the Petronius and Neptune fields in the Gulf of Mexico for $205 million.

The buyer will assume all future abandonment obligations for the acquired assets. These assets represent a majority of the company's operated and non-operated producing properties in the Gulf of Mexico. The effective date of the transaction is Janueary 1, 2015. Closing is expected before year end.

Marathon Oil will retain its interests in certain other producing assets and acreage in the Gulf of Mexico, as well as its interests in the Gunflint development and Shenandoah discovery.


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