Marathon Oil to buy PayRock Energy Holdings
Oil and natgas producer Marathon Oil Corp said on Monday it agreed to buy PayRock Energy Holdings LLC for $888 million from venture capital firm EnCap Investments.
PayRock has current production of about 9,000 net barrels of oil equivalent per day in Oklahoma.
A portfolio company of EnCap Investments, PayRock focuses on Oklahoma and Kansas.
Reporting by Arathy S Nair