On Monday, Shares of Marathon Oil Corporation (NYSE:MRO), added 1.03% and closed at $15.72 in the last trading session. The last trading range of the stock ranges between $15.61 and $15.94. The company’s Market capitalization is $12.89 Billion with the total Outstanding Shares of 847.26 million. During the 52-week trading session the minimum price at which share price traded, registered at $6.52 and reached to max level of $20.44. Marathon Oil Corporation operates as an energy company. It operates through three segments: North America E&P, International E&P, and Oil Sands Mining. The North America E&P segment develops, explores for, produces, and markets crude oil and condensate, natural gas liquids, and natural gas in North America. The International Exploration and Production segment explores for, produces, and markets crude oil and condensate, natural gas liquids, and natural gas in Equatorial Guinea, Gabon, the Kurdistan Region of Iraq, Libya, and the United Kingdom; and produces and markets products manufactured from natural gas, such as liquefied natural gas and methanol in Equatorial Guinea. The Oil Sands Mining segment mines, extracts, and transports bitumen from oil sands deposits in Alberta and Canada; and upgrades the bitumen to produce and market synthetic crude oil and vacuum gas oil. As of December 31, 2015, it had rights to take part in developed and undeveloped leases totaling about 32,000 net acres. The company was formerly known as USX Corporation and changed its name to Marathon Oil Corporation in July 2001.
Devon Energy Corp (NYSE:DVN), jumped 3.69% and closed at $44.39 in the last trading session. The last trading range of the stock ranges between $43.25 and $44.50. During the 52-week trading session the minimum price at which share price traded, registered at $18.07 and reached to max level of $48.68. Devon Energy Corp. (DVN) recently declared that it has accomplished the sale of its 50 percent ownership interest in Access Pipeline to Wolf Midstream Inc., a portfolio company of Canada Pension Plan Investment Board, for CAD $1.4 billion, or USD $1.1 billion. Devon also has the right to receive an incremental CAD $150 million payment from Wolf Midstream with the sanctioning and development of a new thermal-oil project on Devon’s Pike lease in Alberta, Canada. The sale agreement further allows for Access Pipeline tolls to be reduced by as much as 30 percent with the future development of multiple projects at Pike.
With the close of Access Pipeline, Devon’s divestiture program is now complete with total proceeds reaching USD $3.2 billion. At least two-thirds of the sales proceeds are expected to be utilized for debt reduction, with $1.2 billion of debt repurchased to date.