Welcome to our dedicated page for Marathon Oil Corporation news (Ticker: MRO), a resource for investors and traders seeking the latest updates and insights on Marathon Oil Corporation stock.
Marathon Oil Corporation (NYSE: MRO) is a leading American company specializing in hydrocarbon exploration and production. With a strong focus on unconventional resources in the United States, the company operates in four key resource plays: Eagle Ford in Texas, Bakken in North Dakota, STACK and SCOOP in Oklahoma, and the Permian in New Mexico and Texas. Complementing its U.S. operations is a world-class integrated gas business located in Equatorial Guinea.
Marathon Oil is dedicated to the exploration, production, and marketing of crude oil, condensate, natural gas liquids (NGLs), and natural gas. In 2023, the company reported net proved reserves of 1.1 billion barrels of oil equivalent, with an average daily net production of 405 thousand barrels of oil equivalent. The production ratio comprised about 70% oil and NGLs and 30% natural gas.
Recent achievements highlight the company's robust financial health and operational success. For the full year 2023, Marathon Oil reported net income of $1,554 million and adjusted net income of $1,587 million. The company generated free cash flow of $2,029 million and returned $1.7 billion to shareholders while reducing gross debt by $500 million.
Marathon Oil's strategic projects include the development of longer lateral wells, enhancing resource recovery through refrac and redevelopment programs, and improving capital efficiency. In addition, the company's global LNG pricing structure in Equatorial Guinea has significantly uplifted the value of its LNG sales.
Committed to environmental, social, and governance (ESG) excellence, Marathon Oil achieved its 2025 greenhouse gas (GHG) intensity reduction goal two years ahead of schedule, improved its safety performance to record-low incident rates, and made significant social investments in local communities.
For more information on Marathon Oil's latest updates, financial performance, and strategic initiatives, please visit their website at www.marathonoil.com.
Marathon Oil (NYSE: MRO) reported first quarter 2024 net income of $297 million or $0.52 per diluted share. Adjusted net income was $317 million or $0.55 per diluted share. The company returned $349 million or 41% of adjusted CFO to shareholders, including $285 million of share repurchases and $64 million base dividend. Marathon Oil's first quarter operations included delivering oil production of 181,000 net bopd and enhancing capital efficiency through extended laterals and refrac opportunities. The company sanctioned two Alba infill wells and achieved financial flexibility through a successful $1.2 billion bond offering.
FAQ
What is the current stock price of Marathon Oil Corporation (MRO)?
What is the market cap of Marathon Oil Corporation (MRO)?
What is Marathon Oil Corporation's primary business focus?
Where does Marathon Oil operate?
What were Marathon Oil's 2023 financial highlights?
How much daily production did Marathon Oil achieve in 2023?
How is Marathon Oil enhancing its resource recovery?
What is Marathon Oil's approach to ESG?
What strategic projects is Marathon Oil currently undertaking?
How has Marathon Oil's LNG pricing in Equatorial Guinea evolved?
What are the recent changes in Marathon Oil's leadership?
Where can I find more information about Marathon Oil?
