Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Marathon Oil To Sell Alaska Assets To Hilcorp Alaska - Quick Facts

RELATED NEWS
Trade MRO now with 

Marathon Oil Corp. (MRO: Quote) announced that it has entered into a definitive agreement with Hilcorp Alaska LLC, under which Hilcorp will purchase substantially all of Marathon Oil's Alaska assets. The companies expect to close the transaction, subject to completion of the necessary Government and regulatory approvals, by this fall.

With an effective date of January 1, 2012, the sale includes 17 million barrels of oil equivalent of net proved reserves across 10 fields in the Cook Inlet, as well as natural gas storage, and interests in natural gas pipeline transmission systems.

The company said that the sale does not include its Alaska onshore drilling rig, which is being marketed separately.

Click here to receive FREE breaking news email alerts for Marathon Oil Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Toyota Motor Corp. (TM, TYT.L) Thursday announced 1.1 percent decline in worldwide production for October, as there was a sharp decline in production of passenger cars in Japan. Production outside Japan improved 2.3 percent. In a separate announcement, the Japanese automaker said it will recall more... Computer and printer maker Hewlett-Packard Co. said Tuesday after the markets closed that its fourth quarter profit fell 6% from last year, as revenue declined 2%. The company's quarterly earnings per share, excluding items, came in line with analysts' expectations, but its quarterly revenue fell short of analysts' forecast. This organic and natural products company has experienced strong compounded annual growth over the last four fiscal years with its net sales growing 25% and adjusted income from continuing operations over 30%.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.