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

Editors Pick
Stocks moved sharply lower over the course of the trading day on Wednesday, adding to the modest weakness seen in the two previous sessions. With the losses on the day, the major averages fell to their lowest closing levels in over a month. Democrats have climbed into the lead on a generic ballot, according to the results of a new CNN/ORC International poll, although the results may not be as positive for the party as they first appear. With spending on private and public construction both showing notable decreases, the Commerce Department released a report on Wednesday showing an unexpected drop in U.S. construction spending in the month of August.
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.