Related Articles
Forward article link
Share PDF with colleagues

Marathon Oil sells Gulf of Mexico fields in $205m deal

An anonymous buyer secured most of Marathon Oil's GoM fields in a major restructuring by the US company

Marathon Oil has reached an agreement to sell most of its Gulf of Mexico (GoM) oilfields to an anonymous buyer in a deal worth around $205m. The company continues its transformation into a player focused more narrowly on shale in the US. The package includes its operating interest in the Ewing Bank cluster of producing fields; its non-operating 30% interest in the Neptune field; and its 50% interest in the Petronius field. The company produced around 17,000 barrels a day (b/d) in the GoM last year. The independent producer isn’t abandoning the GoM though. It is hanging on to its interests in the promising Shenandoah deep-water discovery in the Lower Tertiary section of the GoM and the Gunf

Also in this section
Saudi Arabia pushes ahead with IPO
22 March 2017
The state firm is making the right noises about its privatisation, but the clock is ticking and market fundamentals could still shift
An M&A lifeline in the North Sea
15 March 2017
Assets that cut tax bills could be a blessing for UKCS operators looking for a bargain
Depth, breadth and data
15 March 2017
Fresh from the merger with Baker Hughes, GE Oil & Gas boss tells Petroleum Economist about his firm's plans for digital analysis, cost-cutting and recovery