Edition:
United Kingdom

Marathon Oil Corp (MRO.N)

MRO.N on New York Stock Exchange

22.49USD
25 Sep 2018
Change (% chg)

$0.15 (+0.67%)
Prev Close
$22.34
Open
$22.50
Day's High
$22.67
Day's Low
$22.30
Volume
2,933,112
Avg. Vol
2,478,754
52-wk High
$22.75
52-wk Low
$12.86

Latest Key Developments (Source: Significant Developments)

Marathon Oil Q2 Adjusted Earnings Per Share $0.15
Wednesday, 1 Aug 2018 

Aug 1 (Reuters) - Marathon Oil Corp ::MARATHON OIL REPORTS SECOND QUARTER 2018 RESULTS.Q2 ADJUSTED EARNINGS PER SHARE $0.15.Q2 EARNINGS PER SHARE $0.11 INCLUDING ITEMS.Q2 EARNINGS PER SHARE VIEW $0.20 -- THOMSON REUTERS I/B/E/S.FULL-YEAR GUIDANCE RAISED WITH BUDGET UNCHANGED.U.S. E&P PRODUCTION AVERAGED 298,000 NET BOED FOR Q2 2018, UP 5 PERCENT COMPARED TO PRIOR QUARTER.QTRLY TOTAL REVENUES AND OTHER INCOME $1,417 MILLION VERSUS $1,059 MILLION REPORTED LAST YEAR.Q2 U.S. E&P UNIT PRODUCTION COSTS WERE DOWN JUST OVER 20 CENTS SEQUENTIALLY TO $5.66 PER BOE.FULL-YEAR GUIDANCE RAISED WITH BUDGET UNCHANGED.INTERNATIONAL E&P PRODUCTION AVERAGED 121,000 NET BOED FOR Q2, UP 6 PERCENT COMPARED TO 114,000 NET BOED IN PRIOR QUARTER EXCLUDING LIBYA.EXPECTS Q3 2018 U.S. PRODUCTION TO AVERAGE 290,000 TO 300,000 NET BARRELS OF OIL EQUIVALENT PER DAY (BOED).QTRLY TOTAL COMPANY NET PRODUCTION AVAILABLE FOR SALE FROM CONTINUING OPERATIONS OF 419 MBOED VERSUS 360 MBOED REPORTED LAST YEAR.MARATHON OIL - SEES Q3 2018 INTERNATIONAL PRODUCTION TO AVERAGE 105,000 TO 115,000 NET BOED, LOWER THAN Q2.MARATHON OIL - INCREASED ANNUAL 2018 TOTAL PRODUCTION GUIDANCE TO 400,000 TO 415,000 NET BOED, UP FROM 390,000 TO 410,000 NET BOED.MARATHON OIL - RAISED GUIDANCE FOR 2018 ANNUAL RESOURCE PLAY OIL AND BARREL OF OIL EQUIVALENT (BOE) GROWTH TO 28 - 32 PERCENT.  Full Article

Marathon Oil Sets Quarterly Dividend Of $0.05Per Share
Wednesday, 25 Jul 2018 

Marathon Oil Corp ::SETS QUARTERLY DIVIDEND OF $0.05PER SHARE.  Full Article

Marathon Oil Signs Heads Of Agreement With The Government Of Republic Of Equatorial Guinea
Thursday, 10 May 2018 

May 10 (Reuters) - Marathon Oil Corp ::MARATHON OIL SIGNS HEADS OF AGREEMENT TO PROCESS THIRD-PARTY VOLUMES THROUGH EXISTING EQUATORIAL GUINEA INFRASTRUCTURE.MARATHON OIL CORP - NEW VOLUMES FROM THIRD PARTY ARE ANTICIPATED EARLY IN NEXT DECADE.  Full Article

Total's CEO says received no objections from Libya before Waha deal closed
Thursday, 26 Apr 2018 

April 26 (Reuters) - Total's ::CEO POUYANNE SAYS PERMANENT TALKS OPEN WITH LIBYAN AUTHORITIES, BUT WAHA DEAL WITH MARATHON <<>> IS CLOSED..CEO POUYANNE SAYS INFORMED LIBYAN AUTHORITIES IN ADVANCE BEFORE WAHA DEAL WAS SETTLED WITH MARATHON..CEO POUYANNE SAYS FROM LEGAL POINT OF VIEW, THERE IS NO REQUEST FOR A FORMAL APPROVAL FROM AUTHORITIES, SAYS THERE WERE NO OBJECTIONS BEFORE DEAL WAS CLOSED..CEO POUYANNE SAYS WILL BE ACTIVE ON THE SALE SIDE, HAS SOME ASSETS WHICH ARE BEING MARKETED TODAY WITHOUT TOO MUCH NOISE.  Full Article

Hess Expects Guyana Project To Be Cash Flow Positive By 2022
Wednesday, 25 Apr 2018 

April 25 (Reuters) - Hess Corp ::CHIEF EXECUTIVE JOHN HESS SAYS FIRST PRODUCTION IN GUYANA LIZA 1 PROJECT STILL EXPECTED BY 2020.CEO SAYS FIRST PRODUCTION IN GUYANA LIZA 2 PROJECT EXPECTED BY 2022.CEO SAYS FIRST PRODUCTION IN GUYANA PACORA PROJECT EXPECTED BY 2023.SAYS STILL EXPECTS 2018 COMPANY-WIDE PRODUCTION OF 245,000 TO 255,000 BPD.SAYS WILL ADD THIRD FRACK CREW TO BAKKEN BY END OF YEAR.SAYS EXPECTS Q2 BAKKEN PRODUCTION OF 115,000 BPD.SAYS EXPECTS Q2 U.S. GULF OF MEXICO PRODUCTION OF 45,000 TO 50,000 BPD.SAYS SALE PROCESS FOR DENMARK ASSETS IS 'ONGOING,' DECLINES TO SAY MORE.DECLINES TO DIRECTLY COMMENT ON REPORTS TOTAL <<>> - MARATHON OIL <<>> DEAL FOR LIBYA STAKE IS IMPERILED, SAYS GENERALLY 'WE'RE ALWAYS LOOKING TO HIGH-GRADE AND OPTIMIZE OUR PORTFOLIO'.SAYS 'PRETTY CONFIDENT' CAN MEET 2018 GOALS WITH MINIMUM COST INFLATION.SAYS EXPECTS ITS GUYANA INVESTMENT TO START GENERATING CASH AFTER SECOND PHASE COMES ONLINE IN 2022.SAYS DOESN'T INTEND TO ISSUE NEW DEBT TO FUND GUYANA PROJECT OR ANY OTHER PROJECTS.CEO SAYS WANTS COMPANY TO BE CASH-FLOW POSITIVE BEFORE CONSIDERING RAISING DIVIDEND.  Full Article

Marathon Oil Receives Adverse Ruling On Some Brae Area Decommissioning Costs
Monday, 8 Jan 2018 

Jan 8 (Reuters) - Marathon Oil Corp ::MARATHON OIL - DURING Q4 , RECEIVED ADVERSE RULING FROM U.K. FIRST-TIER TAX TRIBUNAL REGARDING SOME BRAE AREA DECOMMISSIONING COSTS.MARATHON OIL SAYS SOME ACCOUNTING ADJUSTMENTS IN Q4 EXPECTED TO NEGATIVELY IMPACT CASH FLOW FROM OPERATIONS BY ABOUT $110 MILLION - SEC FILING.MARATHON OIL - EXPECT REVISIONS TO CURRENT, DEFERRED TAX LIABILITIES WILL HAVE NO MATERIAL ADVERSE EARNINGS IMPACT ON RESULTS.  Full Article

Marathon Oil Announces $1 Billion Gross Debt Reduction
Tuesday, 28 Nov 2017 

Nov 28 (Reuters) - Marathon Oil Corp ::MARATHON OIL ANNOUNCES $1 BILLION GROSS DEBT REDUCTION.MARATHON OIL - ENTERED INTO A TRANSACTION TO REDEEM AT PAR OUTSTANDING $1 BILLION OF 5.125 PERCENT MUNICIPAL REVENUE BONDS DUE IN 2037.MARATHON OIL CORP - ‍TRANSACTION WILL REDUCE GROSS DEBT BY $1 BILLION AND ANNUAL CASH INTEREST EXPENSE BY $51 MILLION​.MARATHON OIL - AGREED TO BUY $1 BILLION OF REVENUE REFUNDING BONDS SERIES 2017 HAVING TERM RATE OF 3.75 PERCENT THAT WILL MATURE ON JUNE 1, 2037.MARATHON OIL CORP - ‍PARISH WILL USE PROCEEDS TO REDEEM $1 BILLION OF 5.125 PERCENT FIXED RATE REVENUE BONDS SERIES 2007A​.MARATHON OIL CORP - TOTAL LIQUIDITY AS OF SEPT. 30 WAS $5.2 BILLION.MARATHON OIL - ‍ WITH PREVIOUS REFINANCING, GROSS DEBT REDUCED BY ABOUT $1.75 BILLION, ANNUAL CASH INTEREST EXPENSE REDUCED BY APPROXIMATELY $115 MILLION​.MARATHON OIL - RIGHT TO TENDER REFUNDING BONDS AT PAR AND REMARKET THEM TO INVESTORS AT ANY TIME UP TO 2037 MATURITY DATE & IN AMOUNT UP TO FULL $1 BILLION​.MARATHON OIL CORP - ‍REFUNDING TRANSACTION IS EXPECTED TO CLOSE ON DEC. 18, 2017, SUBJECT TO CUSTOMARY CLOSING CONDITIONS​.MARATHON OIL CORP - ‍APPROXIMATELY $750 MILLION IN REMAINING PROCEEDS FROM SALE OF COMPANY'S CANADIAN SUBSIDIARY IS SCHEDULED TO BE RECEIVED IN Q1 2018​.MARATHON OIL - TOTAL LIQUIDITY AS OF SEPT. 30 WAS $5.2 BILLION, CONSISTING OF $1.8 BILLION IN CASH & CASH EQUIVALENTS & UNDRAWN REVOLVING CREDIT FACILITY OF $3.4 BILLION​.  Full Article

Marathon Oil posts Q3 adjusted loss per share $0.08
Wednesday, 1 Nov 2017 

Nov 1 (Reuters) - Marathon Oil Corp :Marathon Oil reports third quarter 2017 results.Q3 adjusted loss per share $0.08.Q3 loss per share $0.70 including items.Q3 earnings per share view $-0.13 -- Thomson Reuters I/B/E/S.Marathon Oil Corp - ‍raised 2017 resource play exit rate guidance to 25 - 30 percent, up from 23 - 27 percent​.Qtrly ‍total company production excluding libya averaged 371,000 net BOED, up 6 pct sequentially​.Marathon oil corp - ‍anticipate full-year 2017 free cash flow neutrality, including dividends and working capital​.Marathon Oil Corp - ‍expects Q4 2017 U.S. E&P production available for sale to average 255,000 to 265,000 net BOED​.Marathon Oil - ‍Q4 2017 international e&p production available for sale, excluding Libya, is expected to be within a range of 120,000 to 130,000 net BOED​.Marathon Oil Corp - ‍Q3 U.S. E&P​ unit production costs were $5.38 per barrel of oil equivalent (BOE), 8 percent lower than previous quarter.Marathon Oil Corp - qtrly total revenues and other income $‍1,252​ million.Marathon Oil Corp - ‍expects full-year total company production available for sale, excluding Libya, in a new range of 350,000 to 360,000 net BOED​.Q3 revenue view $1.05 billion -- Thomson Reuters I/B/E/S.Marathon Oil Corp - ‍expects its 2017 capital program, excluding lease and acquisition costs, to be approximately $2.1 billion​.Marathon Oil Corp - ‍now expect to end year toward high end of full-year production guidance​.  Full Article

Marathon Oil Corp declares third quarter 2017 dividend
Wednesday, 25 Oct 2017 

Oct 25 (Reuters) - Marathon Oil Corp :Marathon Oil Corp declares third quarter 2017 dividend.Marathon Oil Corp - ‍board of directors has declared a dividend of 5 cents per share on Marathon Oil Corp common stock​.  Full Article

Marathon Oil announces 2017 capital program
Wednesday, 15 Feb 2017 

Marathon Oil Corp : Marathon Oil Corp announces 2017 capital program; accelerating activity and raising long-term growth rates for U.S. resource plays . Marathon Oil Corp says announcing 10 % - 12% total company CAGR, excluding Libya for 2017 . Announced 2017 capital program of $2.2 billion with over 90 percent allocated to its high return U.S. resource plays . Marathon Oil Corp says plans to increase its Oklahoma rig count to average approximately 10 rigs, while bringing 90 to 100 gross company-operated wells to sales . Marathon Oil Corp says for Q1 2017, North America E&P production guidance is expected to average 195,000 to 205,000 net boed . Marathon Oil Corp says in Bakken, plans to focus on its highest return west and east myrmidon areas where it completed several basin-leading wells in 2016 . OSM synthetic crude oil production is expected to range from 45,0000 to 50,000 net bbld in Q1 2017 . Marathon Oil Corp says for 2017, sees production available for sale from North America, international E&P units, excluding Libya, 335,000 to 355,000 net boed . Marathon Oil Corp says for Q1 2017 international E&P is expected to average 120,000 to 125,000 net boed, excluding Libya .Marathon Oil Corp says expects to average approximately six drilling rigs in Bakken in 2017.  Full Article

UPDATE 2-EPA details broad expansion of biofuel waiver program

NEW YORK, Sept 20 The U.S. Environmental Protection Agency (EPA) published new data detailing how it drastically expanded a biofuels waiver program for oil refiners since President Donald Trump's administration took office, responding to pressure from the corn lobby to boost transparency over the opaque program.