Marathon Oil (NYSE:MRO) Selling Several Oil Stakes

Marathon Oil (NYSE:MRO) has entered into an agreement with Marubeni Denver for the sale of its Niobrara oil stakes. Marathon Oil (NYSE:MRO) Selling Several Oil Stakes Marathon Oil (NYSE:MRO), the oil and gas company, announced that it has reached an agreement with Marubeni Denver Julesburg for the sale of its stakes in Niobrara oil acreage. As part of the agreement, Marubeni will purchase a 30 percent stake from Marathon for $270 million. Marathon Oil (NYSE:MRO) is expecting to close the deal on April 28 and said that it will operate the acres jointly with Marubeni. Marathon Oil (NYSE:MRO) executive vice president Dave Roberts said, "Marathon Oil (NYSE:MRO) is pleased to partner with Marubeni as we prepare to explore and evaluate the full potential of this emerging, liquids-rich resource play". Marathon Oil (NYSE:MRO) shares were at 52.9 at the end of the last day’s trading. There’s been a 42.9% movement in the stock price over the past 3 months. Marathon Oil (NYSE:MRO) Analyst Advice Consensus Opinion: Moderate Buy Mean recommendation: 1.9 (1=Strong Buy, 5=Strong Sell) 3 Months Ago: 2.29 Zack’s Rank: 1 out of 8 in the industry
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