Deals
Marathon Selling $950 Million of Assets in Latest Move for Cash
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Marathon Oil Corp. secured agreements to sell $950 million of assets in its latest move to raise cash to weather the worst crude market rout in a generation.
The divestitures, which include all of its Wyoming upstream and midstream assets for $870 million, brings the total amount of asset sales since last year to $1.3 billion, the Houston-based producer said in a statement Monday. That includes developments in the Big Horn and Wind River basins that averaged production of 16,500 barrels of oil equivalent a day in the first quarter, as well as the Red Butte pipeline, a 570-mile conduit that is the only export line in the area.