Is The Eagle Ford Shale Play Getting A Second Wind? [Yahoo! Finance News]
Marathon Oil Corporation (MRO)
Last marathon oil corporation earnings: 2/12 04:30 pm
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Source: Yahoo! Finance News
Over the last year, the Eagle Ford Shale play has seen a lot of renewed interest in investment as well as M&A activity. Just this November, Marathon Oil Company, (NYSE:) announced in their quarterly earnings call they had acquired the Eagle Ford assets of privately held Ensign Natural Resources. For a sales price of ~$0 bn in a combination of cash and debt instruments, got 67,000 BOEPD of production, 130,000 bolt-on acres, and 600 new derisked drilling locations. Not a bad deal at ~$23,000 per acre on its face, but what drove the deal in the Eagle Ford as opposed to other shale plays?Clearly, as you look at the deal slide from below, the synergies become apparent. The legacy acreage lies in the Volatile Oil and Condensate region of the play. The Ensign acreage continues in the Condensate region and dips down into the Wet Gas region, bringing a new horizon to . The Ensign deal brings a double-down focus on the condensate and new horizons in Wet Gas to Marathon. This focus gives us a
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MRO
Earnings
- 2/21/24 - Beat
MRO
Sec Filings
- 4/10/24 - Form ARS
- 4/10/24 - Form DEFA14A
- 4/10/24 - Form DEF
- MRO's page on the SEC website