New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 4, 2014
05:34 EDTMROMarathon Oil to acquires 50% interest in Rift Basin Area in Ethiopia
Africa Oil announced that it has received Ethiopian government approval for Marathon Oil, through its wholly-owned subsidiary Marathon Ethiopia Limited B.V., will acquire a 50% interest in the Rift Basin Area. Under the terms of the Marathon Oil farmout agreement, Marathon Oil will acquire a 50% interest in the Rift Basin Area in Ethiopia. Africa Oil will maintain operatorship of the block, but Marathon Oil has the right to assume operatorship if a commercial discovery is made. In consideration for the assignment of this interest, Marathon Oil will pay Africa Oil an entry payment of $3M in respect of past costs, and has agreed to fund $15M of Africa Oil's working interest share of joint venture expenditures in the Rift Basin Area. Africa Oil and Marathon Oil are pleased to complete the final tranche of the farmout transaction originally announced in July 2012. Completion of this transaction is anticipated in March 2014. Following completion, Africa Oil and Marathon Oil will each hold a 50% working interest in the Rift Basin Area.
News For MRO From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
January 27, 2015
10:00 EDTMROOn the Fly: Analyst Downgrade Summary
Subscribe for More Information
January 26, 2015
16:26 EDTMROMarathon Oil, Cobalt, RSP Permian downgraded at UBS
UBS lowered its Brent and WTI forecasts to $52.50 and $49 from $67.50 and $62.50, respectively, and downgraded a number of names in the energy space in conjunction. Along with making changes to its oil price forecasts, UBS downgraded Marathon Oil (MRO), Cobalt (CIE) and RSP Permian (RSPP), all to Neutral from Buy. The firm also identified ConocoPhillips (COP), Devon Energy (DVN), Murphy Oil (MUR), Ultra Petroleum (UPL), Range Resources (RRC), Denbury Resources (DNR), and Magnum Hunter (MHR) as having high valuations, slowing growth and wide free cash flow deficits and said it was cautious on all of those names as well.
16:21 EDTMROMarathon Oil downgraded to Neutral from Buy at UBS
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use