Several Oil & Gas Deals (XOM, CHK, MRO)

Energy

Published: November 30, 2010 8:49 am

Last Updated: April 28, 2020 4:40 am

While there are no major mergers being announced in the energy patch, we do have several expansion deals from energy leaders in oil and gas. ExxonMobil Corp. (NYSE: XOM) has a deal in Canada, and we have two shale investment moves by Chesapeake Energy Corporation (NYSE: CHK) and Marathon Oil Corporation (NYSE: MRO).

ExxonMobil Corporation (NYSE: XOM) is selling oil and natural gas assets up in the Canadian oil sands to Husky Energy Inc. Terms of the deal come to roughly $860 million.

Chesapeake Energy Corp. (NYSE: CHK) is involved in a small acquisition with Australian oil and gas explorer Antares Energy Ltd. and a Texas-based partner. The group is selling some 23,180 acres in south Texas for roughly $200 million.

Marathon Oil Corporation (NYSE: MRO) is acquiring wells and property located in the Eagle Ford shale field of south Texas. The purchase is from Denali Oil & Gas that comes to about $10 million, but there are options for up to another 58,000 acres for roughly $92 million.

JON C. OGG

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