Marathon Energy Closes On Acquisition of Book Of Customers From NFR

August 3, 2020

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Copyright 2010-20 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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Marathon Energy (Marathon) announced that it has closed on its previously reported Asset Purchase Agreement with National Fuel Resources, Inc. ('NFR'), whereby Marathon acquired NFR’s commercial and industrial gas contracts in New York and Pennsylvania, along with select other assets.

The transaction had been exclusively first reported by EnergyChoiceMatters.com in June

"I am excited to announce that we have completed our third major acquisition in less than two years. This transaction expands our footprint in New York and Pennsylvania, while also expanding our business model to provide complementary energy products and services to their customers," said Jerry Drenis, President and CEO of Marathon. "Marathon’s strong coverage and balance sheet puts us in a great position to continue our growth trajectory."

Terms of the transaction were not disclosed.

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