Paloma Partners II, LLC Announces Sale to Marathon Oil Corporation for $750M - Marathon Oil (NYSE:MRO)

27% profit every 20 days?

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Houston based Paloma Partners II, LLC ("Paloma II") announced today that it has recently entered into an agreement for the sale of the company to Marathon Oil Corporation (NYSE: MRO). Under the terms of the agreement, Marathon Oil will acquire Paloma II for $750,000,000 in cash, effective as of April 1, 2012, subject to customary closing terms and conditions. Closing is expected to occur in the third quarter of 2012. Paloma II owns roughly 17,000 net acres in the Eagle Ford shale play, primarily in Karnes and Live Oak counties, TX. Net production as of April 1 was approximately 7,000 boepd.

27% profit every 20 days?

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