As previously announced, Marathon
Oil Corporation MRO had engaged in discussions with respect to a
potential sale of a portion of the Company's 20 percent outside-operated
interest in the Athabasca Oil Sands Project (AOSP) in Alberta, Canada. An
agreement was not reached with the prospective purchaser and negotiations have
been terminated.
Marathon Oil is not engaged in further discussions with respect to a potential
sale of these assets; however, the Company will continue to evaluate ways to
optimize its portfolio for profitable growth and to deliver value to
shareholders. As such, the Company's stated goal of divesting between $1.5
billion and $3 billion in assets over the period of 2011 through 2013 remains
intact. As of May 22, 2013, Marathon Oil has agreed upon or closed on
approximately $1.3 billion in divestitures.
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