Acquisitive Spanish oil firm Repsol expects the fall in oil prices to flush out a deal within the next two to three months as potential sellers lower their price, the company said on Thursday.The cash-rich group has $10 billion to spend to fill the gap left by the nationalisation of its Argentine business two years ago, cut its heavy exposure to conflict-ridden regions such as Libya and Venezuela and to protect it from any takeover bid from bigger rivals.After failed attempts at deals with Talisman and Pacific Rubiales of Canada, and the Norwegian arm of Marathon Oil, Repsol continues to pursue oil producing targets, both assets and companies, located in stable countries and that could add immediate value to its portfolio.Sources close to the matter said earlier this week that the firm, which is looking for a 7 or 8 percent investment return, was currently trying to narrow down a long prospective shopping list running to dozens of small companies and other assets to just a handful of targets.
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. Shares of MRO remained unchanged at $33.57. In the past year, the shares have traded as low as $31.35 and as high as $41.92. On average, 5998100 shares of MRO exchange hands on a given day and today's volume is recorded at 5900.
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