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.' ”