Marathon Oil said on Monday that it would be exiting the UK North Sea as it continues to focus on high-return U.S. shale oil operations. Houston-based Marathon Oil has signed an agreement with independent UK company RockRose Energy to sell its UK businesses Marathon Oil U.K. LLC (MOUK) and Marathon Oil West of Shetland Limited (MOWOS), which hold interests in fields in the Greater Brae Area, in Foinaven Field unit, and in Foinaven East. RockRose Energy will assume all obligations associated with MOUK and MOWOS operations in the UK, including decommissioning liability, Marathon Oil said. The price of the sale—subject to customary adjustments—would be around US$140 million, the U.S. company said. The transaction is expected to close in the second half of 2019, with an effective date of January 1, 2019. As of the end of 2018, Marathon Oil carried 21.4 million barrels of oil equivalent of proved reserves […]