Go to content

AdeB assists Marathon Oil

Det norske oljeselskap ASA ("Det norske") has entered into an agreement to acquire Marathon Oil Norge AS ("Marathon Norway") for a cash consideration of USD 2.1 billion (NOK 12.6 billion). The cash consideration is based on a gross asset value of USD 2.7 billion and is adjusted for debt, net working capital and interest on the net purchase price. The effective date of the transaction is 1 January 2014 and it is expected to close in the fourth quarter 2014, subject to regulatory approvals.

This is one of the largest transactions ever on the Norwegian Continental Shelf. 

AdeB has recently been involved in all the larger corporate transactions in the oil sector. We assisted Tullow Oil in their acquisition of Spring Energy, which is the largest investment from England in to Norway for several years. Further, we assisted RWE in the sale of i.a. RWE Dea Norge, which probably will be one of the largest transactions in Europe in 2014. Assisting Marathon in the sale of Marathon Norway, confirms our position as the leading Norwegian transactional law firm within the oil and energy sector.