Marathon Oil trims credit facility to $2.5 billion, extends to 2027

By Wendy Van Sickle

Columbus, Ohio, Aug. 2 – Marathon Oil Corp. decreased aggregate commitments under its amended and restated credit agreement dated May 28, 2014 to $2.5 billion from $3.149 billion and extended the maturity date by three years to July 28, 2027, according to an 8-K filing with the Securities and Exchange Commission.

Further, some revisions were made to the pricing schedule, and Libor was replaced by SOFR.

The company entered into the amendment to the credit agreement on July 28.

JPMorgan Chase Bank, NA is the administrative agent.

The energy company is based in Houston.

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