Marathon Oil Corporation’s $1.5 Billion Term Loan Facility

Cravath represented the administrative agent, joint lead arranger and joint bookrunner in connection with the arrangement of a $1.5 billion term loan facility made available to Marathon Oil Corporation to finance its acquisition of the Eagle Ford assets from Ensign Natural Resources. Marathon Oil Corporation is an independent exploration and production company that engages in the exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas. The transaction closed on November 22, 2022.

The Cravath team included partner Tatiana Lapushchik and associates D. Ana Choi and Obianuju A. Enworom on banking matters; partner Andrew T. Davis and associate Sonia Katharani‑Khan on tax matters; partner Matthew Morreale on environmental matters; and associates Tiffany B. Wong and Molly E. Nichols on executive compensation and benefits matters. Clayton Hackney also worked on tax matters.