A year after Marathon Oil spent $888 million acquiring holdings in Oklahoma’s Anadarko shale reserve, the company has signed a deal to sell some of its non-core assets in western Texas and New Mexico for $235 million.
The company did not reveal the identity of the buy but explained the properties produced nearly 4,000 barrels of oil equivalent a day in the first half of 2016.
“Since August 2015, Marathon Oil has announced or closed non-core asset sales in excess of $1.5 billion,” said the Houston-based company in a statement.
In 2015, Marathon purchased PayRock Energy Holdings which held nearly 61,000 acres in the Anadarko reserve of Oklahoma. But the latest sales also include properties in Wyoming that averaged 16,500 barrels of oil equivalent a day in the first quarter of the year. Nearly 600 miles of export pipeline from the Big Horn and Wind river basins in the state were part of the sale.
Marathon plans to release its third quarter results in a month