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Monday, October 15, 2012

Marathon Oil selling Eagle Ford acreage-adviser, (NYSE: MRO)

Marathon Oil Corp is selling nearly 100,000 acres of undeveloped oil and gas properties in the Eagle Ford basin in south Texas, an area that the U.S. oil and gas company views as a major source of production growth. Marathon is selling about 97,000 acres in Wilson, Karnes and Bee Counties, according to a marketing brochure from its adviser on the sale. The company has 325,000 acres in the Eagle Ford.

Marathon Oil Corporation (Marathon Oil) is an international energy company engaged in exploration and production, oil sands mining and integrated gas with operations in the United States, Angola, Canada, Equatorial Guinea, Indonesia, the Iraqi Kurdistan Region, Libya, Norway, Poland and the United Kingdom. Shares of MRO traded higher by 1.72% or $0.505/share to $29.88. In the past year, the shares have traded as low as $23.17 and as high as $35.49. On average, 6945890 shares of MRO exchange hands on a given day and today's volume is recorded at 3076877.