- Associated Press - Friday, April 15, 2016

GRAND JUNCTION, Colo. (AP) - Marathon Oil is joining the ranks of companies fleeing northwestern Colorado.

The Daily Sentinel reports (https://bit.ly/1NcWMFd ) that the Houston-based energy firm announced this week that is has agreed to sell its holdings in Colorado’s Piceance (PEE’-awnts) Basin. Marathon is also selling holdings in the Gulf of Mexico and west Texas, under multiple purchase agreements, for a combined total of $80 million.

Marathon purchased the 8,400 acres worth of leases and infrastructure northwest of Parachute for $354 million from Petroleum Development Corp. in 2006.

Other companies to sell their Piceance holdings in recent years have been Bill Barrett Corp., to Vanguard Natural Resources; Antero Resources, to Ursa Resources; and most recently WPX Energy, to Terra Energy Partners LLC in February.


Information from: The Daily Sentinel, https://www.gjsentinel.com

Sign up for Daily Newsletters

Manage Newsletters

Copyright © 2020 The Washington Times, LLC.

Please read our comment policy before commenting.


Click to Read More and View Comments

Click to Hide