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Marathon Oil

Marathon Ramps Up Drilling, Expands Buyback

Marathon Oil (NYSE:MRO) said Monday it will begin accepting bids for its North Sea businesses in the second quarter, as the energy producer moves forward with an effort to reshape its portfolio.The Houston-based company will also expand its share buyback program by $500 million, bringing the total to $1.5 billion. Marathon has already repurchased $1 billion of its common stock.Marathon provided the update on its 2014 plans ahead of a conference in New Orleans. The company, which first announced several initiatives in December, is coming off a year during which it surpassed its three-year target for asset sales of at least $3 billion.In September, Marathon announced it would sell its interest in an offshore Angola block for $590 million, while buying $97 million worth of acreage at Eagle Ford in south Texas.Marathon has made other moves to expand its shale footprint in recent years, following the 2011 spinoff of Marathon Petroleum (NYSE:MPC). Shale oil production in the U.S. has lifted ...

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  5. Marathon Oil to Buy Eagle Ford Acreage, Sell Angola Stake

    Marathon Oil (NYSE:MRO) said Tuesday it plans to sell its interest in an offshore Angola block for about $590 million, while buying acreage at the Eagle Ford shale p...

  6. Marathon Oil to sell stake in Angolan field for $590 million

    Marathon Oil Corp said it plans to sell its stake in an oil and gas field offshore Angola for about $590 million as part of an asset disposal program aimed at shorin...

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