Companies & Finance

Marathon Oil to sell bulk of Alaska assets

US independent Marathon Oil has agreed to sell the bulk of its Alaska assets to privately held Hillcorp for an undisclosed sum.
By Staff reporter 13 April 2012 0 9056

US independent Marathon Oil has agreed to sell the bulk of its Alaska assets to privately held Hillcorp for an undisclosed sum.

The assets include 17 MMboe of proved reserves across 10 fields in the Cook Inlet, producing 2.63 MMcm/d of gas and 112 bbl/d of oil in 2011, as well as gas storage and pipeline transmission systems. Marathon had 353.96 MMcm of gas in storage at year-end 2011.

The deal is expected to close by the third quarter 2012, subject to regulatory approval.

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