Marathon Oil completes acquisition of Ensign’s Eagle Ford assets

Marathon Oil (MRO) announced the completion of its acquisition of the Eagle Ford assets of Ensign Natural Resources for a total cash consideration of $3B after taking into account closing adjustments. The acquisition was previously announced on November 2. "We are pleased to announce the close of our acquisition of Ensign’s high-quality assets in the core of the Eagle Ford Shale," said chairman, president, and CEO Lee Tillman. "This acquisition satisfies every element of our disciplined acquisition criteria. It’s immediately accretive to our key financial metrics, it will drive higher shareholder distributions consistent with our operating cash flow driven Return of Capital framework, it’s accretive to our inventory life with attractive locations that immediately compete for capital, and it offers truly compelling industrial logic given our existing Eagle Ford footprint and our track record of execution excellence in the play."