Shares in Aurora Oil & Gas Ltd
(ASX:AUT) jumped in morning trade after news of Marathon Oil's $3.5 billion purchase of 141,000 net acres within the Eagle Ford shale trend in South Texas, from Hilcorp Energy Company and Kohlberg Kravis Roberts.
Aurora's acreage in Eagle Ford currently stands at around 75,000 acres.
The oil and gas producer says, with an acquisition of this magnitude the company anticipates that activity could accelerate where maximum economic returns can be achieved.
In addition, Aurora says that a large, integrated independent such as Marathon will have the capacity to efficiently deliver on development.
Shares in Aurora Oil & Gas were over 8 per cent stronger this morning, trading at $3.63.
In the first half of its 2011 financial year, Aurora Oil & Gas reported a net loss of $5.8 million for the six months to 31 December 2010.
