Oil and Gas News from OilGasDaily.Com  
OIL AND GAS
Marathon Oil sells U.S. acreage
by Daniel J. Graeber
Washington DC (UPI) Oct 02, 2016


disclaimer: image is for illustration purposes only

U.S. energy major Marathon Oil said Monday it signed a deal to sell off some of its non-core assets in the southern United States for $235 million.

To an undisclosed buyer, Marathon said it sold non-core assets in western Texas and New Mexico. The properties included in the deal produced around 4,000 barrels of oil equivalent per day during the first half of the year.

"Since August 2015, Marathon Oil has announced or closed non-core asset sales in excess of $1.5 billion," the company said in a statement.

The largest of the latest sales includes the release of properties in Wyoming that were producing on average 16,500 barrels of oil equivalent per day during the first quarter of the year. For a combined divestment of $870 million, the sale to an undisclosed third party includes about 600 miles of export pipeline from the Big Horn and Wind River basins in the state.

A separate $80 million sale includes gas basins in Colorado, undeveloped property in the Western part of Texas and a 10 percent stake in Shenandoah discovery in the Gulf of Mexico.

Marathon last year sold some of its acreage in the Gulf of Mexico for $205 million, but said it was keeping its interests in the emerging Shenandoah basin. In June, it spent $888 million to acquire PayRock Energy Holdings, which held about 61,000 acres of land in the Anadarko shale reserve area in Oklahoma.

The company said it expects North American production to be about 4 percent less than that during the second quarter, reflecting lower capital investments. Third quarter results are due Nov. 2.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
Lundin: More hope for Barents Sea reserves
Oslo, Norway (UPI) Sep 30, 2016
New drilling operations in the Barents Sea confirmed the possibility exists for the region to be a commercial success, Lundin Petroleum said. The company, which has its headquarters in Sweden, said it found between 125 million and 400 million barrels of oil equivalent after drilling a new appraisal well into the Alta prospect in the Barents Sea. The well is the first of three planned fo ... read more


OIL AND GAS
Europe ups energy security ante

NREL releases updated baseline of cost and performance data for electricity generation technologies

Chinese giant to buy Pakistani power company for $1.6 bn

Economy of energy-hungry India may face headwinds

OIL AND GAS
Closing in on high-temperature superconductivity

Corvus Energy selected to power new environmentally friendly UK hybrid ferry

Carbon-coated iron catalyst structure could lead to more-active fuel cells

Proton diffusion discovery a boost for fuel cell technologies

OIL AND GAS
New findings by Stanford chemists could lead to greener methanol production

Liquid Manure Volume Reduced by Half

Can jet fuel be grown on trees?

Boskalis tests sustainable wood-based biofuel for marine fleet

OIL AND GAS
Deal signed for giant UK nuclear project

South Africa's nuclear programme kicked into touch, again

UN trims nuclear power growth forecasts

AREVA and Synatom sign a contract for the manufacture of transport and storage casks

OIL AND GAS
Global warming set to pass 2C threshold in 2050: report

Earth's climate past points to overheated future: study

Pillar of Obama climate plan has its day in court

Caspian terns found breeding 1,000 miles farther north than previous record

OIL AND GAS
VW says to pay US suppliers $1.2 bln over Dieselgate

Renault promises total cooperation in emissions probe

Volvo partnership pays off in SuperTruck collaborative effort

First test of driverless minibus in Paris Saturday

OIL AND GAS
Australian ex-MP's Iraq visit dubbed 'stupid'

The son of Baghdad who fathered Iraqi Frankenstein

US says no mustard gas found in Iraq rocket attack

On Baghdad street, a struggle between life and death

OIL AND GAS








The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.