MARATHON ACQUIRES GLOBEX ENERGY FOR $155 MILLION

Abstract

Marathon Oil Corp.'s $144-million acquisition of Globex Energy, Inc. is now complete, and the Houston-based company's exploration and production asset base, primarily in Equatorial Guinea, has been boosted with the addition of 38 million barrels of oil equivalent (BOE) in proven reserves. An additional 12 million BOE of proven Equatorial Guinea reserves will be booked upon the anticipated approval of an Equatorial Guinea expansion project later this year.