April 13, 2011 / 8:55 PM / in 9 years

UPDATE 1-Marathon Oil finds oil in Kurdistan

HOUSTON, April 13 (Reuters) - Marathon Oil Corp (MRO.N) said on Wednesday it discovered oil at a well in the Kurdish region of Iraq.

The Houston company said it has a 20 percent interest in the Atrush block where the successful well was drilled.

Marathon said in October it had taken a stake in four exploration blocks in Kurdistan, marking the U.S. oil company’s first entry into Iraq.

Murphy Oil Corp (MUR.N), another U.S. company, is also acquiring exploration acreage in Kurdistan. [ID:nN04132598]

Shares of Marathon rose slightly in post-market trading, to $50.87 from a New York Stock Exchange close of $50.33. (Reporting by Anna Driver in Houston; Editing by Richard Chang)

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