Marathon Oil Plans to Sell $1.5 Billion-$3 Billion in Assets

Marathon Oil Corp., the energy producer that spun off its refining business in June, plans to sell $1.5 billion to $3 billion in assets during the next two to three years to focus on the most profitable ventures.

Marathon expects onshore production in the continental U.S. to reach the equivalent of 120,000 barrels to 130,000 barrels a day during the current quarter, which would represent an increase of as much as 73 percent compared with the third quarter, the Houston-based company said today in a statement.

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To contact the editor responsible for this story: Susan Warren at susanwarren@bloomberg.net

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