CALGARY - MARATHON OIL CORP. has completed the takeover of WESTERN OIL SANDS. Marathon has acquired all of the issued and outstanding Class A shares of Western. The arrangement allowed shareholders of Western to receive cash, shares or a combination of both for their holdings.
The transaction is valued at US$6.9 billion. Western's largest asset is a 20% share of the Athabasca Oil Sands Partnership, operated by SHELL CANADA. The partnership owns the Muskeg River mine north of Fort McMurray, Alta., and refines bitumen at Shells Scotford upgrader.
Visit the Marathon site at www.Marathon.com for details of the transaction and information on how oil sands production will impact the company.