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Marathon Oil selling Alaska assets to Hilcorp

Anchorage Daily News online -- Associated Press

Published: April 10th, 2012 11:23 AM
Last Modified: April 10th, 2012 11:24 AM

JUNEAU -- Marathon Oil Corp. plans to sell most of its Alaska assets to Hilcorp Alaska LLC as part of a corporate strategy to focus on oil shale production.

The sale of Cook Inlet assets, natural gas storage and interests in gas pipeline transmission systems is subject to regulatory approval. Terms of the agreement weren't disclosed. The companies hope to have the deal completed by fall.

An onshore drilling rig on the Kenai peninsula is being sold separately.

Wade Hutchings, Marathon's Alaska asset manager, said the decision to sell was driven by the company's strategic focus on liquids-rich resource plays.

He says Marathon has about 62 employees in the state. Some will transfer elsewhere

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Submitted Apr 10, 2012 By: Nitewolf

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REPLIES (newest first)Ignore Short Messages

1momsunshine Champion Author Ottawa Posts:5,620 Points:1,026,995 Joined:Mar 2010	Message Posted: Apr 11, 2012 1:44:16 AM Ignore 1momsunshine Report Abuse 0k
Jeff4U Champion Author Atlanta Posts:8,895 Points:1,879,930 Joined:Nov 2004	Message Posted: Apr 11, 2012 12:57:51 AM Ignore Jeff4U Report Abuse Got any more exciting news to speak of?
36_ACRES_4_SALE All-Star Author Appleton Posts:999 Points:338,815 Joined:Oct 2011	Message Posted: Apr 11, 2012 12:51:38 AM Ignore 36_ACRES_4_SALE Report Abuse :)
Lugi1967 Champion Author Ohio Posts:4,921 Points:1,029,660 Joined:Jun 2010	Message Posted: Apr 10, 2012 9:46:12 PM Ignore Lugi1967 Report Abuse OK
Meowmy Champion Author Florida Posts:1,293 Points:354,505 Joined:Jan 2011	Message Posted: Apr 10, 2012 8:11:14 PM Ignore Meowmy Report Abuse As long as they're NOT a 'foreign' company.
coughlin Champion Author San Jose Posts:5,324 Points:1,145,340 Joined:Sep 2009	Message Posted: Apr 10, 2012 6:53:39 PM Ignore coughlin Report Abuse Marathon Oil has been around for a long, long time. Not so long ago it was an 'asset' of, completely owned by, U.S. Steel. Then U.S. Steel changed its name to Marathon Oil.