Marathon makes Kurdish find

Marathon: Makes Kurdish find

SCANPIX/AP Photo/Pat Sullivan

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By News Wires

 13 April 2011 21:48 GMT

Marathon Oil said today it discovered oil at a well in the Kurdish region of Iraq.



The Houston-based company has a 20% interest in the Atrush block where the successful well was drilled.

Marathon said in October it had taken a stake in four exploration blocks in Kurdistan, marking the US oil company's first entry into Iraq, Reuters reported.

Murphy Oil is also buying exploration acreage in Kurdistan.

Shares of Marathon rose slightly in post-market trading, to $50.87 from a New York Stock Exchange close of $50.33.

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