Spanish oil firm Repsol is set to accelerate a $10 billion acquisition drive to take advantage of lower U.S. shale valuations in the face of falling oil prices and eventually fill a gap left by the 2012 seizure of its Argentine business.The cash-rich group has been on the hunt for oil and gas assets for months as it tries to reduce its heavy exposure to conflict-ridden regions such as Libya and Venezuela and to protect itself from any takeover bid from bigger international competitors.After failed attempts at deals with Talisman and Pacific Rubiales of Canada and Norway's Marathon Oil , it continues to pursue oil and gas targets in OECD countries that offer a 7 or 8 percent investment return, sources familiar with the matter said.The sources would not be drawn on which companies Repsol is potentially pursuing.
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 traded higher by 3.78% or $1.29/share to $35.40. In the past year, the shares have traded as low as $31.35 and as high as $41.92. On average, 5874490 shares of MRO exchange hands on a given day and today's volume is recorded at 8286718.
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