RockRose Energy PLC (LSE:RRE) agreed to acquire Marathon Oil U.K. LLC and Marathon Oil West of Shetland Limited from Marathon Oil Corporation (NYSE:MRO) for approximately $140 million on February 25, 2019. The closing consideration paid will be $140 million, which reflects the assumption by RockRose of MOUK and MOWOS working capital and cash equivalent balances, which were approximately $350 million on December 31, 2018. Under the terms, RockRose Energy, will assume all obligations associated with MOUK and MOWOS operations in the U.K, including decommissioning liability. The consideration is subject to customary adjustments. The consideration will be funded through existing resources and facilities. The assets and teams of Marathon Oil U.K. LLC and Marathon Oil West of Shetland Limited in Aberdeen, Peterhead and offshore will transfer to RockRose on completion of the Acquisition. The transaction is expected to be completed in the second half of 2019. Giles Fitzpatrick and Andrew Chubb of Hannam & Partners (Advisory) LLP acted as financial advisor and joint broker to RockRose Energy PLC (LSE:RRE). Anna Howell and Justin Stolte of Gibson, Dunn & Crutcher LLP acted as legal advisor to Marathon Oil Company. Jefferies acted as financial advisor to Marathon Oil Corporation. Ed Lukins of Cooley (UK) LLP acted as legal advisor to RockRose Energy PLC RockRose Energy PLC (LSE:RRE).

RockRose Energy PLC (LSE:RRE) completed the acquisition of Marathon Oil U.K. LLC and Marathon Oil West of Shetland Limited from Marathon Oil Corporation (NYSE:MRO) for $95 million on July 1, 2019. Final terms of the transaction resulted in consideration payable to a subsidiary of Marathon Oil of approximately $95 million, which reflects the assumption by RockRose Energy of the U.K. business' working capital and cash equivalent balances of approximately $345 million on December 31, 2018. The $95 million payable by RockRose to Marathon Oil in connection with the acquisition was funded through existing resources and facilities. Marathon Oil U.K. LLC and Marathon Oil West of Shetland Limited assets and teams in Aberdeen, Peterhead and offshore have also transferred to RockRose.