Globex' assets in the Carnarvon Basin included the Stag oilfield operated by Santos and parts of the Harriet joint venture acreage. Marathon will now put its foot on 12.5% of the Stag production, 15% of WA-246P and WA-256P, from the Stag and Harriet fields respectively.

The Globex takeover deal was valued at around US$155 million and was announced on the 18 June this year. Less than 10 days later, the Marathon board said the acquisition had been completed. It is understood worldwide exploration vice president Philip Behrman has been earmarked as point man for the Australian portfolio.