US player Marathon Oil is buying out private equity-backed PayRock Energy Holdings for $888 million in a move analysts say will boost Marathon’s exposure to the red-hot Stack tight oil play in Oklahoma at a favourable price.
For its cash, Marathon will add around 61,000 net acres and current production of 9000 net barrels of oil equivalent per day from the oil window of the Stack play in Kingfisher and Canadian counties in the US state of Oklahoma.
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