Strengthens

Marathon Oil Corp. has completed the recently announced acquisition of Globex Energy Inc. The company said the acquisition strengthens its exploration and production asset base, primarily in Equatorial Guinea, with the addition of 38 million Boe in proven reserves. An additional 12 million Boe of proven Equatorial Guinea reserves will be booked upon the anticipated approval of an Equatorial Guinea expansion project later this year. Following the expected approval of the expansion project, Marathon said it expects that its Equatorial Guinea net proven reserves will total 300 million Boe. The full-cycle finding and development cost of these reserves, including the liquefied petroleum gas (LPG) processing plant and its associated expansion, is estimated to be $4.20/Boe.

Consistent with both companies’ strategies for the future, NRGEnergy Inc. announced it would pay $325 million to Wisconsin EnergyCorp. for two Connecticut coal-fired power stations. NRG said theacquisition would help it maintain and develop a “top-threeposition in the Northeast,” while Wisconsin Energy said it wouldfocus its energy projects in the Midwest.

Newfield Exploration Co. said it would buy interests inproducing gas assets in south Texas from an undisclosed seller for$142 million. The producing gas fields are located in Hidalgo,Brooks and Kenedy counties. The effective date of the transactionis Jan. 1, 2000 and the deal is expected to close in late February.