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Marathon Oil Completes Eagle Ford Acquisition

Dec 27, 2022•almost 3 years ago

Acquiring Company

Marathon Oil

Acquired Company

Eagle Ford

HoustonOil And GasEnergy

Description

Marathon Oil Corporation (NYSE: MRO) today announced the completion of its acquisition of the Eagle Ford assets of Ensign Natural Resources for a total cash consideration of $3.0 billion after taking into account closing adjustments. The acquisition was previously announced on November 2, 2022.

Company Information

Company

Marathon Oil

Location

Houston, Texas, United States

About

Marathon Oil (NYSE: MRO) is an independent oil and gas exploration and production (E&P) company focused on four of the most competitive resource plays in the U.S. - Eagle Ford, Texas; the Bakken, North Dakota, the STACK and SCOOP in Oklahoma and the Permian in New Mexico, complemented by a world-class integrated gas business in Equatorial Guinea. Our Framework for Success is founded in a strong balance sheet, ESG excellence and the competitive advantages of our multi-basin portfolio. For more information, please visit www.marathonoil.com

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed