Marathon Oil will acquire oil and gas properties in Texas’ Eagle Ford shale field in a deal valued at $3.5 billion, The Wall Street Journal. The oil and gas production company will buy the assets from private equity firm KKR and Hilcorp Resources Holdings.
Other major investors in the shale include Chinese state oil company CNOOC and Norwegian oil company Statoil. KKR’s share of the deal will be valued at about $1.13 billion and Hilcorp will secure the remaining proceeds.
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