RockRose Energy Acquires Marathon Oil
U.K.-based oil and gas firm RockRose Energy has signed a share purchase agreement to acquire 100% of Marathon Oil UK (MOUK), and 100% of Marathon Oil West of Shetland (MOWOS), from subsidiaries of Marathon Oil Corporation.London-headquartered RockRose will pay $140 million (subject to customary adjustments) for the assets, while also taking on the decommissioning liabilities.MOUK holds a 37-40% operated interest in fields in the Greater Brae Area, and MOWOS holds a 28% interest in the BP PLC-operated Foinaven field unit and 47% in Foinaven East.
Shell Divests Oil Sands Interests in Canada
Royal Dutch Shell plc has announced the signing of two agreements by Shell Canada Energy, Shell Canada Limited and Shell Canada Resources (“Shell”) — which are detailed in this announcement — that will see Shell sell all of its in-situ and undeveloped oil sands interests in Canada and reduce its share in the Athabasca Oil Sands Project (AOSP) from 60 percent to 10 percent. Shell will remain as operator of AOSP’s Scotford upgrader and Quest carbon capture and storage (CCS) project. Under the first agreement…
Hathon is Director Exploration, Cairn
Cairn announced the appointment of Eric Hathon as Director of Exploration. Dr Hathon, who has more than 25 years experience in the international oil and gas industry, will join Cairn from Marathon Oil Corporation where he held the position of Director Conventional Exploration, based at the company’s Headquarters in Houston, USA. Dr Hathon will succeed Richard Heaton, currently Cairn’s Director of Exploration, who is retiring after 23 years service with the company. Richard will step down from his role following Cairn’s Annual General Meeting in May 2017.
Marathon Oil Sells Gulf of Mexico Assets
Houston-based exploration and production company Marathon Oil Corporation will sell its operated producing properties in the greater Ewing Bank area and non-operated producing interests in the Petronius and Neptune fields in the Gulf of Mexico for $205 million, the company announced Monday. The undisclosed buyer will assume all future abandonment obligations for the acquired assets, which represent a majority of the company's operated and non-operated producing properties in theregion. The effective date of the transaction is January 1, 2015. Closing is expected before year end.
Marathon Oil Reports 2Q 2014 Adjusted Net Income at $603 mi
Marathon Oil Corporation (NYSE:MRO) today reported second quarter of 2014 adjusted net income was $603 million, or $0.89 per diluted share, compared to adjusted net income in the second quarter of 2013 of $478 million, or $0.67 per diluted share. During the quarter, Marathon Oil entered into an agreement to sell its Norway business, which is now reflected as discontinued operations. Adjusted income from continuing operations, which excludes Norway and Angola, for the second quarter of 2014 was $423 million…
Ultra-deepwater Drillship 'Maersk Valiant' Delivered
Maersk Drilling advises that its second new drillship, 'Maersk Valiant', has been delivered from the Samsung Heavy Industries (SHI) shipyard in Geoje-Si, South-Korea. Maersk Valiant has begun its voyage towards the US Gulf of Mexico via Singapore to commence a two year contract with ConocoPhillips and Marathon Oil Corporation. Maersk Valiant is the second in a series of four ultra deepwater drillships to enter Maersk Drilling’s fleet. The four drillships represent a total investment of US$2.6-bn and will be delivered from the SHI shipyard in 2014.
Maersk Drilling Name Two New Ultra-Deepwater Drillships
Maersk Drilling say that their second and third ultra-deepwater drillships have been named in a ceremony held at the Samsung Heavy Industries (SHI) shipyard in Geoje-Si, South Korea. Lisa Lance, wife of Ryan M. Lance, chairman and chief executive officer, ConocoPhillips had the honour of naming Maersk Valiant, and Annell R. Bay, Vice President Global Exploration, Marathon Oil Corporation of naming Maersk Venturer. Maersk Drilling explain that the Maersk Valiant and Maersk Venturer are the second and third in a series of four ultra deepwater drillships to enter their rig fleet.
