Marathon Oil Corporation has entered into an agreement with an undisclosed company to dispose certain non-core upstream and midstream assets in Wyoming, US, for $870m.
The company also agreed to sell its 10% working stake in the Shenandoah discovery in the Gulf of Mexico, natural gas assets in the Piceance Basin in Colorado, and some of the undeveloped acreage in west Texas for $80m.
The transaction is anticipated to be concluded in mid-2016.
Rice Energy Inc., an independent oil and gas exploration and production company, has entered into a pact with a subsidiary of Alpha Natural Resources, Inc., to acquire the latter’s Marcellus and Utica assets located in Pennsylvania, US.
The transaction, valued at $200m, will add 182 and 50 net core drilling locations respectively from the Marcellus and Utica acreages.
It will be funded through public issue of shares that is expected to close today.
The acquisition will allow Rice Energy to increase its oil and gas area in Marcellus and Utica shales in Pennsylvania.
Croton Holding Company, a seller of petroleum products and operator of convenience stores, has concluded the acquisition of Par Mar Oil Co., an operator of fuel retail and car wash services outlets.
Par Mar Oil runs 52 convenience stores and a number of car wash centres in the states of West Virginia, Ohio and Kentucky, US. Croton aims to extend its operations in West Virginia, Ohio and Kentucky through the deal.
Fifth Third Securities Inc. served as the financial advisor to Par Mar Oil for the transaction.
Fairfax India Holdings Corporation has made a $300m agreement with Sanmar Chemicals Group to acquire a 30% stake in the latter. The transaction will be completed through Fairfax India’s subsidiaries.
Fairfax India will fund $250m, whereas the remaining $50m will be funded by either Fairfax Financial Holdings Limited or another investor.
The acquisition will allow Fairfax India to enhance its offerings in chemicals in the Indian market.
Image: Marathon Oil is headquartered in Houston, Texas, US.
