Marathon Pays $750M For Texas Shale Player Paloma

Law360, New York (May 9, 2012, 2:24 PM EDT) -- Houston-based oil and gas giant Marathon Oil Corp. has agreed to acquire private-fund-backed Texas energy company Paloma Partners II LLC for $750 million in an all-cash transaction, its latest asset acquisition in its Eagle Ford shale play, Paloma said Wednesday.

Paloma, which owns about 17,000 net acres in the vast Eagle Ford Formation in Texas, said the deal became effective as of April 1. The transaction is expected to close in the third quarter of 2012.

Paloma's net production from the Eagle Ford play as of...
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