MARATHON OIL CORP: M&A transaction — Marathon Oil closes $3.0B acquisition of Eagle Ford assets from Ensign Natural Resources

MARATHON OIL CORP

Paid $3.0B cash for upstream assets in Live Oak, Bee, Karnes, DeWitt Counties, Texas.
Acquired assets are 99% operated, 67,000 net boepd (22,000 net bopd oil) maintenance production.
Funding from cash on hand, revolving credit, and new term credit agreement dated Nov 22, 2022.
CEO says deal is immediately accretive to key financial metrics and will boost shareholder distributions.
Maintenance program requires ~1 rig and 35–40 wells per year; no synergy credits included in valuation.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

MARATHON OIL CORP completed an acquisition involving Ensign Operating LLC, Ensign Operating II LLC, Ensign Operating III LLC for $3.0 billion in cash (closed 2022-12-27).

Action: acquisition
Counterparty: Ensign Operating LLC, Ensign Operating II LLC, Ensign Operating III LLC
Consideration: $3.0 billion in cash
Closing: 2022-12-27

Exact text from the filing

which the Purchaser agreed to acquire the Sellers’ upstream oil and gas assets located in Bee, DeWitt, Karnes and Live Oak Counties, Texas and related assets (the “Assets”) for $3.0 billion in cash, subject to customary closing adjustments. On December 27, 2022, the Purchaser completed the transactions contemplated by the Purchase and Sale Agreement (the

View on SEC.gov

Browse all m&a transactions →

Source: SEC EDGAR

accession 0000101778-23-000003

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.