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Fly News Breaks for June 14, 2016
MRO
Jun 14, 2016 | 08:05 EDT
UBS met with Marathon Oil management, who confirmed that the company's oil sands mining position is not part of its non-core assets sale. The firm believes the company could be monetized for roughly $3B which would be accretive to its enterprise value, boost its unbooked -to-proved reserve ratio, reduce its cost structure, and provide proceeds to accelerate growth. UBS reiterated its Buy rating and $16 price target on Marathon Oil shares.
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