Hydrocarbon exploration company, Marathon Oil has announced the completion of its acquisition of the Eagle Ford assets of Ensign Natural Resources for a total cash consideration of $3.0 billion (€2.79 billion). The acquisition was originally announced on November 2, 2022.
Lee Tillman, chairman, president, and CEO of Marathon Oil says: ‘We are pleased to announce the close of our acquisition of Ensign’s high-quality assets in the core of the Eagle Ford Shale. This acquisition satisfies every element of our disciplined acquisition criteria…and it offers truly compelling industrial logic given our existing Eagle Ford footprint and our track record of execution excellence in the play.”
The assets are acquired from Ensign Natural Resources (99% operated, 97% working interest). Marathon Oil believes it can deliver maintenance level production from the acquired asset of 22,000 net bopd (barrels of oil per day) with approximately 1 rig and 35 to 40 wells to sales per year.
