Welcome to the U.S. Energy Information Administration reveiw of aspects of Marathon Oil's, which already owns 62 percent, acquisition of Ashland Corporation's 38-percent share of their Marathon Ashland Petroleum joint venture, which was created January 1, 1998. The acquisition price is about $3 billion ($1.1 billion in cash and stock and the assumption of $1.9 billion of debt). The Marathon Ashland Petroleum joint venture is the combination of the Marathon-branded outlets, SuperAmerica-branded outlets, and Ashland-branded outlets, all of which are chiefly found in the midwestern U.S. The acquisition is expected to close before the end of 2004. Contact the National Energy Information Center at (202) 586-8800 for additional information.

Aspects of Marathon's Acquisition of Complete Ownership of the Marathon Ashland Petroleum Joint Venture

On March 19, 2004 The Wall Street Journal reported that Marathon Oil will acquire from Ashland Corporation the 38-percent of the Marathon Ashland Petroleum refining/marketing joint venture that it does not already own.   Marathon reportedly will pay about $3 billion (about $1.1 billion of cash and stock and assume about $1.9 billion of debt) for Ashland's share in the refining/marketing joint venture.   In addition to the acquiring full ownership of the Marathon Ashland Petroleum assets, Marathon reportedly also intends to acquire 61 Valvoline Instant Oil Change outlets and other related assets currently owned by Ashland.

The following links provide company-level data and aggregate data from various public sources to inform discussions of this transaction.   This data presentation is similar to data presentations that have been previously requested from the Energy Information Administration for other significant energy company mergers and/or corporate alliances.

Refining Tables

U.S. Refining Crude Oil Distillation Capacity, Marathon Ashland Petroleum Joint Venture
U.S. Refining Crude Oil Distillation Capacity, Marathon Ashland Petroleum Joint Venture, PAD District Detail

Marketing Tables

U.S. Motor Gasoline Retail Outlets, Marathon Ashland Petroleum Joint Venture
U.S. Motor Gasoline Retail Outlets, Marathon Ashland Petroleum Joint Venture, State-Level Detail

Historical Information

Aspects of the Creation of the Marathon Ashland Petroleum Refining/Marketing Joint Venture (May 1997)

 

Financial Analysis Team, Office of Energy Markets and End Use, Energy Information Administration, March 23, 2004

Contact:
Neal Davis
neal.davis@eia.doe.gov
Fax: (202) 586-9753

OR

National Energy Information Center
Phone: (202) 586-8800

URL: http://www.eia.doe.gov/emeu/finance/mergers/marindex.html

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