Marathon Exits Canadian Oil Sands and Doubles Down on Shale With Permian Acquisition
Marathon announced on March 9 that it will divest its Canadian oil sands property for $2.5 billion, $1.1 billion of which will be used to acquire 70,000 net acres in the Permian Basin (including 50,000 acres in the Northern Delaware Basin). Combined, we believe these transactions add about $2 per share in value. However, in light of our bearish views on crude prices in 2018 and beyond we have also dialed back our forecasts for Marathon's unconventional growth in the next five years. Our fair val...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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