Marathon Oil has agreed to acquire Paloma Partners II LLC for US$ 750 million in cash as the company is expanding its activities in the Eagle Ford Shale where Paloma holds significant acreage.
The deal will net Marathon an additional 17,000 acres in the Eagle Ford Shale, principally in the Karnes and Live Oak counties. The net production from the shale acreage was 7000 boe per day as of April 1st.
Written by Peter Farrell.