Firm seeks bids for onshore East Africa stakes

Marathon Oil Corp is seeking bids for its interest in four onshore exploration blocks in East Africa as the oil and gas company focuses on drilling in US shale formations, its advisor on the sale said on Friday.

Marathon, like many other US oil and gas companies, has in recent years directed more capital to shale formations such as the Eagle Ford in south Texas.

The Houston company will take offers for all or part of the properties located in Ethiopia and Kenya, according to an email from divestiture advisory firm IndigoPool. Cash bids are due July 23, and a data room will be opened on May 29, the sale notice said.