Houston-based Marathon Oil Corporation has sold nearly $1 billion of its assets in a recent deal involving its Wyoming upstream and midstream assets. Makes a total of $1.3 billion in assets the company has unloaded since August.
Marathon did not identify the buyers but said the divestiture of the Wyoming assets totaled $870 million. It also sold 10 percent working interest in the Shenandoah discovery in the Gulf of Mexico, some operated natural gas assets in the Piceance in Colorado and some undeveloped acreage in West Texas for a total of nearly $80 million. That makes the total sale of non-core assets at $950 million.
Marathon CEO Lee Tillman said the company originally intended for divestitures to be in a range of $750 million to $1 billion in non-core assets.
The Wyoming properties are said to be waterflood developments in the big Horn and Wind River basins.
