Marathon Oil sells Norway operations in $2.7B deal

Marathon Oil (MRO) agrees to sell its Norwegian business to Det Norske Oljeselskap (DETNF) in a deal valued at ~$2.7B, as it focuses on its U.S. operations.

The sale includes the MRO-operated Alvheim FPSO vessel, 10 company-run licenses and some non-operated licenses on the Norwegian continental shelf; last year's net production in Norway averaged ~80K boe/day.

MRO says it abandoned plans to sell its U.K. North Sea business after failing to attract an acceptable offer.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs