Over the last year, the Eagle Ford Shale play has seen a lot of renewed interest in investment as well as M&A activity. Just this November, Marathon Oil Company, (NYSE:MRO) announced in their quarterly earnings call they had acquired the Eagle Ford assets of privately held Ensign Natural Resources. For a sales price of ~$3.0 bn in a combination of cash and debt instruments, MRO got 67,000 BOEPD of production, 130,000 bolt-on acres, and 600 new derisked drilling locations. Not a bad deal at ~$23,000 per acre on its face, but what drove the deal…
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