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RockRose Energy acquires Marathon Oil’s UK business

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Christian Fernsby ▼ | July 2, 2019
Marathon Oil
Acquisition   Marathon Oil

Independent oil and gas company RockRose Energy has completed the acquisition of Marathon Oil UK (MOUK) and Marathon Oil West of Shetland (MOWOS) from subsidiaries of Marathon Oil for $95m.

Following completion of the deal, MOUK and MOWOS assets and teams in Aberdeen, Peterhead and offshore have transferred to RockRose. The transaction represents a complete UK exit for Marathon Oil.

The acquisition has added around 28.4 million barrels of oil equivalent of 2P reserves to RockRose. The acquisition also includes stakes in the SAGE, Brae-Forties and WOSPS infrastructure.

MOUK owns 26% interest in licence P313 and 40% interest in licences P340 and P108, which together comprise the Greater Brae area. MOWOS holds a 28% interest in the Foinaven oil field, which is operated by BP, as well as interests in the Foinaven East, T25, and T35 satellite accumulations.

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