Marathon Oil (MRO) Agrees to Sell Non-Operated CO2 and Waterflood assets for $23.5M
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Marathon Oil Corporation (NYSE: MRO) announced that the Company has signed an agreement for the sale of certain non-operated CO2 and waterflood assets in West Texas and New Mexico for $235 million, excluding closing adjustments. The properties averaged approximately 4,000 barrels of oil equivalent per day in the first half of 2016. The effective date of the transaction is Sept. 1, 2016, and closing is expected by year end.
Since August 2015, Marathon Oil has announced or closed non-core asset sales in excess of $1.5 billion.
As previously announced, the Company plans to issue its third quarter 2016 earnings news release on Wednesday, Nov. 2, after the close of U.S. financial markets. The Company will conduct a conference call, which will be webcast live, on Thursday, Nov. 3, at 9 a.m. ET.
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