Marathon looking to sell Powder River CBM assetsPennaco Energy, acquired in 2001, no longer a good fit; Marathon now focused on stranded gas worldwide, including West Africa LNG Ray Tyson Petroleum News Houston Correspondent
Marathon Oil is taking offers for U.S. Rockies subsidiary Pennaco Energy, a little over three years after acquiring the independent coalbed methane producer in a deal valued at about $500 million.
When closing the transaction in March 2001, Marathon said Pennaco was “a great strategic fit” for the....
[additional news subjects in this story]
Strong prices, recent sales in Rockies a factor Bidding to conclude in third quarter Pennaco only 10 percent of Marathon’s U.S. gas production
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