Friday, October 5, 2012
Marathon to Offload Marcellus Acres in West Virginia
Houston, Texas-based Marathon Oil Corporation ( MRO ) plans to sell its natural gas-rich acreage in the Marcellus Shale formation as it aims to shed the non-core properties while reviewing its portfolio following last year's spin-off of its refining division. However, the company declined to comment on any such transaction.
A leading integrated oil and gas firm − Marathon − will likely shed about 80,000 acres in West Virginia and Pennsylvania and could receive up to $1,000 an acre. The company now considers its Marcellus assets as non-core and minor to its operations
Read more: Marathon to Offload Marcellus Acres