Marathon Oil completed the acquisition of the Eagle Ford assets of Ensign Natural Resources for $3bn.

Marathon Oil, an independent exploration and production company primarily focusing on unconventional resources, completed the acquisition of the Eagle Ford assets of Ensign Natural Resources, an operator of an exploration and production company focused on acquiring, developing and producing US unconventional resources, for $3bn. "The transaction is immediately accretive to our key financial metrics; it will drive higher distributions to our shareholders consistent with our operating cash flow driven Return of Capital Framework; it's accretive to our inventory life with high rate-of-return locations that immediately compete for capital; and it offers compelling industrial logic by nearly doubling our position in a Basin where we have a tremendous track record of execution excellence. Importantly, we expect to execute this transaction while maintaining our investment grade balance sheet and while still delivering on our aggressive return of capital objectives in 2022 and beyond," Lee Tillman, Marathon Oil Chairman, President and CEO.