Marathon Oil Corporation (Marathon) is an integrated international energy company engaged in exploration and production; oil sands mining; integrated gas, and refining, marketing and transportation. Shares of MRO fell by 2.81% or $-1.52/share to $52.65. In the past year, the shares have traded as low as $30.04 and as high as $54.33. On average, 7007070 shares of MRO exchange hands on a given day and today's volume is recorded at 10027265.
Wednesday, June 1, 2011
Marathon to pay $3.5 billion for Eagle Ford assets, (NYSE: MRO), (NYSE: KKR), (NYSE: APC)
Marathon Oil Corp (MRO.N) will purchase oil and gas properties in Texas' Eagle Ford shale field for $3.5 billion from private equity firm KKR & Co (KKR.N) and Hilcorp Resources Holdings LP, the companies said on Wednesday. Shares of Marathon fell nearly 3 percent as investors fretted about the deal's high price tag. KKR nearly tripled the investment it made just a year ago with the sale. "Strategically I like to see deals like this," said Raymond James analyst Pavel Molchanov. "The Eagle Ford is a fantastic, very profitable resource play, but the acquisition is being done at a significant premium." Wall Street analysts pegged the deal's value above $20,000 per acre, topping Anadarko Petroleum Co's (APC.N) deal with Korea National Oil Corp in March that was done at $16,000 per acre.
Marathon Oil Corporation (Marathon) is an integrated international energy company engaged in exploration and production; oil sands mining; integrated gas, and refining, marketing and transportation. Shares of MRO fell by 2.81% or $-1.52/share to $52.65. In the past year, the shares have traded as low as $30.04 and as high as $54.33. On average, 7007070 shares of MRO exchange hands on a given day and today's volume is recorded at 10027265.
KKR & Co. L.P.: NYSE:KKR quotes & news - Google Finance Source
Marathon Oil Corporation (Marathon) is an integrated international energy company engaged in exploration and production; oil sands mining; integrated gas, and refining, marketing and transportation. Shares of MRO fell by 2.81% or $-1.52/share to $52.65. In the past year, the shares have traded as low as $30.04 and as high as $54.33. On average, 7007070 shares of MRO exchange hands on a given day and today's volume is recorded at 10027265.
