Marathon Oil Co. announced last week its intent to solicit offers for the company’s interests in Western Canada, which account for approximately 21,000 boe/d of net production, including about 100 MMcf/d of gas and 4,000 b/d of liquids.

The proposed sale is part of the company’s recently announced plan to divest certain upstream and downstream assets, which is part of an ongoing process of actively managing Marathon’s global asset portfolio.

“While these are good assets, given our overall strategic planning they are not the kind of fit we’re looking for,” said Marthon spokesman Paul Weeditz. The marketing of the company’s interests in Alberta, British Columbia and one area in the Northwest Territories will have no impact on the company’s current exploration activities offshore Nova Scotia.

With the possible sale of these Canadian interests, the recently announced agreement to sell 193 Speedway SuperAmerica retail outlets in the Southeastern U.S. to Sunoco, Inc., and the contemplated sale of other upstream and downstream assets, Marathon now estimates its asset dispositions will likely exceed the previously announced estimate of $400 million. Going forward the company will be looking for new properties — not limited to one geographic area — aimed at long-term growth.

Marathon will be setting up a data room for the sale of the properties.

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