Wednesday, June 1, 2011

Marathon Oil buys 141K acres in Eagle Ford gas field

To double its acreage in the Eagle Ford gas field of southwest Texas, Marathon Oil announced today it will close on a $3.5 billion deal with Hilcorp Resources Holdings some time on November 1.

The acquisition will bring a total of 285,000 acres under the control of Hilcorp.

One of the largest gas plays in the history of the nation, the Eagle Ford has seen recent acquisitions by China's largest oil and gas company, CNOOC, ExxonMobil, Chevron, and Chesapeake Energy.

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