Marathon Oil Announces $1.1 Billion Permian Acquisition
03.22.17
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Simpson Thacher represented Marathon Oil Corporation (NYSE: MRO) in its announced Permian basin acquisition of approximately 70,000 net mineral acres, 51,500 of which is located in the Northern Delaware basin, from BC Operating, Inc. and other private sellers for $1.1 billion. The acquisition is expected to close in the second quarter of 2017 with an effective date of January 1, 2017.
Marathon Oil is an independent global exploration and production company. Based in Houston, Texas, the company operates in North America, Europe and Africa.
The Simpson Thacher team included Byron Romain and Breen Haire (M&A).