Marathon plans $950 million asset sale
Marathon Oil Corp. said Monday it plans to sell $950 million worth of assets, vowing to focus on lower-risk U.S. resources to protect its balance sheet amid falling oil prices. The company has sold a total of $1.3 billion in assets since August, going beyond its target of selling $750 million to $1 billion in assets. The largest transaction announced Monday is the selling of all of its Wyoming exploration and transportation and storage assets for $870 million, Marathon said. Shares of Marathon rose 2% in late trading Monday after ending the regular session down 0.9%.
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