Aurora Oil & Gas Limited (“Aurora”) notes the recent announcement by Marathon Oil Corp (“Marathon”) of the purchase of Hilcorp Energy Company (“Hilcorp”) and its partner Kohlberg Kravis Roberts’ (“KKR”) acreage within the Eagle Ford shale trend in South Texas. Hilcorp is currently the operator of Aurora’s acreage in the Eagle Ford.
On 1 June 2011 Marathon announced that it had agreed to purchase 141,000 net acres within the Eagle Ford trend from Hilcorp and its partner KKR for a total of $3.5 billion. The acquisition remains subject to due diligence and customary terms and is anticipated to close on 1 November 2011.
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