Marathon Augments Permian Holding With Black Mountain Acquisition
Marathon will purchase 20,000 net acres in the northern Delaware Basin from Black Mountain Oil and Gas for $700 million. This is the second Permian acquisition the firm has announced this month, and adds running room in what will be a key growth asset. When both deals close in the second quarter the company will have assembled a 70,000 net acre position in the play, with at least 1,000 low-cost drilling locations to work through (supporting 10-15 years of development activity). However, the pric...Marathon Oil is an independent exploration and production company focused on the United States resource plays. The company also has international operations in Equatorial Guinea (E.G.). The company's segments are: United States, which explores for, produces and markets crude oil and condensate, natural gas liquids (NGLs) and natural gas in the United States; and International, which explores for, produces and markets crude oil and condensate, NGLs and natural gas outside of the United States as well as produces and markets products manufactured from natural gas, such as liquefied natural gas and methanol, in E.G.
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