Marathon Oil to Buy Ensign Eagle Ford Assets for $3 Billion (2)

Marathon Oil Corp. agreed to acquire natural gas assets in the Eagle Ford shale basin from Ensign Natural Resources for $3 billion in cash.

The deal will immediately enhance Marathon’s cash flow, the Houston-based company said Wednesday in a statement. It adds 130,000 net acres adjacent to Marathon’s existing Eagle Ford position, increasing the company’s presence there to 290,000 net acres.

The move for Marathon follows a trend in the shale industry, according to analyst Gabriele Sorbara of Siebert Williams. “Most E&Ps need to add inventory,” Sorbara said. “And when attractive and accretive opportunities come up, companies are jumping ...