Los Angeles
11 November 2015
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 Gunfli
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