Marathon Petroleum Corp. on Monday agreed to take over Andeavor, a combination that would create a powerful U.S. refining, marketing and midstream company that, among other things, builds a massive Permian Basin footprint.
Articles from Marathon
Houston-based Marathon Oil Corp.’s third quarter U.S. production should average toward the high end of its guidance of 230,000-240,000 boe/d net, despite the temporary impacts from Hurricane Harvey, with annual output jumping by double-digits from 2016.
With a large rig addition and a move into the Permian Basin as a fourth U.S. onshore play in its portfolio, Marathon Oil Corp. is obviously eyeing growth unconventionals, but it may choose to expand using shorter hydraulic fracturing (fracking) laterals, company executives said on an earnings conference call Friday.
Marathon Oil Corp. is buying again in the Permian Basin. The company is acquiring about 21,000 net surface acres, largely in the Northern Delaware basin of New Mexico, from Black Mountain Oil & Gas and other private sellers for $700 million in cash.
Marathon Oil Corp. is waving goodbye to Canada and picking up acreage in New Mexico’s Permian Basin in a mega-deal announced Thursday.
Houston-based Marathon Oil Corp. agreed Monday to pay $888 million for PayRock Energy Holdings LLC, which would give it another 61,000 net surface acres and 9,000 boe/d net production in the stacked reservoirs of Oklahoma’s Anadarko Basin.
The Obama administration and Ohio-based refinery operator Marathon Petroleum Corp. said on Thursday they have reached an agreement under which Marathon will spend nearly $335 million to reduce gas flare air pollution at its refineries in Illinois, Kentucky, Louisiana, Michigan and Ohio.
Marathon Oil Corp. has agreed to sell non-core assets in northwest Wyoming, Colorado, West Texas and the offshore Gulf of Mexico (GOM) for $950 million, bringing the total value of the company’s divestitures since last year to about $1.3 billion.