Marathon Oil Corporation has agreed to buy $3.5 billion worth of Eagle Ford shale assets from Hilcorp Resources Holdings. Combined with other acquisitions due to close by the end of 2011, Marathon’s Eagle Ford acreage position is expected to more than double to 285,000 net acres, the company stated on 1 June.
Private equity firm Kohlberg Kravis Roberts & Co (KKR), a partner in the Hilcorp Resources, stands to make a huge profit from the deal. KKR’s stake in Hilcorp is now valued at $1.13 billion, nearly...
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