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AMHERST, NY – Amherst Chamber of Commerce President/CEO A.J. Baynes joins Marathon Energy in announcing that it has closed on its previously announced Asset Purchase Agreement with National Fuel Resources, Inc. (“NFR”), whereby Marathon acquired NFR’s commercial and industrial gas contracts in NY and PA, along with select other assets.
“National Fuel Resources was a long time member and a superb partner“ said Baynes. “To know that Marathon Energy will continue to support our region is welcomed. They have a commitment to our area and can service our community from natural gas and electricity, to heating oils and motor fuels.”
“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. “NFR has an established and strong reputation, I’m pleased to welcome NFR‘s customers and key employees to the Marathon family, and look forward to our shared success. 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. For more information, visit www.mecny.com .