Marathon Oil News: More Eagle Ford Deals to Come

News out of Marathon Oil is that it plans to continue its upbeat attitude about the Eagle Ford.  Marathon Oil is fresh off of a 3.5 billion acquisition of Eagle Ford Shale acreage and a recent spinoff of it’s refinery business.  Expect the upstream focused Marathon Oil to continue acquiring shale oil property for development.

“The head of Marathon Oil Corp. announced Friday his company will continue to buy acreage in the Eagle Ford and other shale basins where it already has operations as a means of growing its exploration business following the spin- off of its refining unit.”

“Marathon announced earlier this month it plans to buy oil and gas properties in the Eagle Ford shale field in South Texas for $3.5 billion.”

“Marathon CEO Clarence Cazalot said the Houston-based company concentrate primarily on oil acquisitions in the Eagle Ford, Niobrara and Bakken shales.”

“ ‘We are not spending very much money on natural gas,’ Cazalot said. ‘You’ll note about all of those, they are predominantly liquids focused.’ ”

Read the full news release at gonzalescannon.com

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Kenneth E. DuBose

Kenneth E. DuBose

Kenneth DuBose is the past President of Cheyenne Minerals Inc., an independent oil and gas operator. He began his energy industry career with ARCO Oil & Gas. Mr. DuBose then directed development of natural gas storage projects with Tejas Power Corp. He was a founding member of U.S. Minerals, (acquired by Torch Energy in 1999) a provider of internet based education for America’s mineral owners. Mr. DuBose holds a BS in Petroleum Engineering from Mississippi State University. He has served on various industry steering committees, non-profit boards, and is an active member of the Society of Petroleum Engineers, the National Association of Royalty Owners, the American Association of Professional Landmen, as well as being a Registered Investment Advisor. He writes on topics of oil and gas investing, wealth management and personal finance, having appeared in the Wall Street Journal, Kiplinger’s, Kiplinger’s Personal Finance, Houston Business Journal, Financial Advisor and various radio and TV outlets.
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