OGJ Newsletter

06/09/2014
GENERAL INTEREST — Quick Takes DNO to buy Marathon's Norway unit for $2.7 billion DNO ASA has entered into a definitive agreement to acquire Marathon Oil Norge AS, a wholly owned subsidiary of Marathon Oil Corp., for $2.7 billion, effective Jan. 1. The deal, expected to close in the fourth quarter, includes the Marathon-operated Alvheim floating production, storage and offloading (FPSO) vessel, 10 company-operated licenses, and several nonoperated licenses in the Norwegian North Sea. In 2013, the company's net production in Norway averaged 80,000 boe/d. This is the latest move executed by Marathon in a series of divestitures and acquisitions. The firm in September 2013 agreed to sell 10...
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