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Marathon Oil to Buy PayRock Energy for $888 Million

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Marathon Oil Corporation (NYSE: MRO ) has agreed to acquire PayRock Energy Holdings LLC .

The deal is worth a reported $888 million and it will help add another valuable asset to Marathon Oil's portfolio. The company will now have a position in the Stack region of Oklahoma.

Crude oil prices still go for about $45 a barrel in the area, compared to the average crude oil price of $49.36 this month in the U.S.

This is one of the top oil reservoirs in the country.

MRO stock is up 10% Monday.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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