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Marathon Oil Corporation - MRO STOCK NEWS

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.

News

Marathon Oil Schedules First Quarter 2024 Earnings Release and Conference Call

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Marathon Oil (MRO) is set to release its first quarter 2024 earnings on May 1, with a conference call scheduled for May 2. Investors can access the information on Marathon Oil's website.
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Marathon Oil Corporation Announces Pricing of Offering of $600 Million of Senior Notes Due 2029 and $600 Million of Senior Notes Due 2034

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Marathon Oil (MRO) announces a $1.2 billion senior notes offering to repay borrowings, with J.P. Morgan, Morgan Stanley among book-runners.
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Marathon Oil Corporation Announces Key Officer Promotions

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Marathon Oil Corporation (NYSE: MRO) announces the promotion of Rob L. White to Executive Vice President and CFO, effective May 1, 2024. Zach Dailey will succeed Mr. White as Vice President, Controller and Chief Accounting Officer. Dane Whitehead to retire in July 2024 after 7 years of service.
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Marathon Oil Announces 2024 Capital Budget and Reports Fourth Quarter and Full-Year 2023 Results

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Marathon Oil Corporation (MRO) reported strong financial results for full-year 2023, with net income of $1,554 million and adjusted net income of $1,587 million. The company delivered $1.7 billion of shareholder returns and reduced gross debt by $500 million. Marathon Oil also announced a 2024 capital budget of $1.9 to $2.1 billion, focusing on corporate returns and free cash flow generation.
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Marathon Oil Corporation Declares Fourth Quarter 2023 Dividend

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Marathon Oil Corporation (MRO) has declared a dividend of 11 cents per share on common stock, payable on March 11, 2024, to stockholders of record on Feb. 21, 2024.
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Marathon Oil Schedules Fourth Quarter and Full-Year 2023 Earnings Release and Conference Call

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Marathon Oil Corporation (MRO) is set to release its fourth quarter and full-year 2023 earnings on February 21, 2024, followed by a conference call on February 22. The call will provide forward-looking information, and all investor-related material can be accessed on Marathon Oil's website.
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Marathon Oil Reports Third Quarter 2023 Results

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Marathon Oil Corporation reported third quarter 2023 net income of $453 million or $0.75 per diluted share. Adjusted net income was $466 million or $0.77 per diluted share. The company generated $718 million of adjusted free cash flow during the third quarter, up 35% sequentially. They delivered a sequential increase in total third quarter production to 421,000 net barrels of oil equivalent per day and 198,000 net barrels of oil per day. Marathon Oil returned $476 million or 42% of adjusted CFO to shareholders during the third quarter through share repurchases and base dividends. They also announced a 10% quarterly base dividend increase to $0.11/share and an increase in share repurchase authorization to $2.5 billion.
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Marathon Oil Corporation Declares Third-Quarter 2023 Dividend

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Marathon Oil Corporation (NYSE: MRO) has declared a dividend of 11 cents per share on Marathon Oil Corporation common stock. The dividend is payable on Dec. 11, 2023, to stockholders of record on Nov. 15, 2023.
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Marathon Oil Announces LNG Sales Agreement for Alba Gas in E.G.

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Marathon Oil signs LNG sales agreement with Glencore Energy UK Ltd, providing significant exposure to the European LNG market starting Jan 2024. Company expects over $300 million EBITDA increase next year across its E.G. integrated gas business.
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Marathon Oil Schedules Third Quarter 2023 Earnings Release and Conference Call

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Marathon Oil Corporation to release Q3 2023 earnings on November 1
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FAQ

What is the current stock price of Marathon Oil Corporation (MRO)?

The current stock price of Marathon Oil Corporation (MRO) is $28.99 as of November 18, 2024.

What is the market cap of Marathon Oil Corporation (MRO)?

The market cap of Marathon Oil Corporation (MRO) is approximately 16.1B.

What is Marathon Oil Corporation's primary business focus?

Marathon Oil Corporation primarily focuses on hydrocarbon exploration, production, and marketing, with a strong emphasis on unconventional resources in the United States.

Where does Marathon Oil operate?

Marathon Oil operates in four key resource plays in the U.S.: Eagle Ford in Texas, Bakken in North Dakota, STACK and SCOOP in Oklahoma, and the Permian in New Mexico and Texas. They also have an integrated gas business in Equatorial Guinea.

What were Marathon Oil's 2023 financial highlights?

In 2023, Marathon Oil reported a net income of $1,554 million, adjusted net income of $1,587 million, and generated free cash flow of $2,029 million. They also returned $1.7 billion to shareholders and reduced gross debt by $500 million.

How much daily production did Marathon Oil achieve in 2023?

In 2023, Marathon Oil's daily net production averaged 405 thousand barrels of oil equivalent, with a production ratio of about 70% oil and NGLs and 30% natural gas.

How is Marathon Oil enhancing its resource recovery?

Marathon Oil is enhancing its resource recovery through the development of longer lateral wells and the progression of its refrac and redevelopment programs, which significantly improve capital efficiency.

What is Marathon Oil's approach to ESG?

Marathon Oil is committed to ESG excellence, achieving its 2025 GHG intensity reduction goal two years ahead of schedule, improving safety performance to record-low incident rates, and making strategic investments in local communities.

What strategic projects is Marathon Oil currently undertaking?

Strategic projects include developing longer lateral wells, improving capital efficiency, and enhancing resource recovery through refrac and redevelopment programs. They also focus on optimizing LNG sales in Equatorial Guinea.

How has Marathon Oil's LNG pricing in Equatorial Guinea evolved?

Starting January 1, 2024, Marathon Oil began directly marketing its share of Alba LNG under new contractual agreements, leading to a significant uplift in value due to global LNG pricing.

What are the recent changes in Marathon Oil's leadership?

Rob L. White has been promoted to Executive Vice President and Chief Financial Officer, effective May 1, 2024. Zach Dailey will succeed Mr. White as Vice President, Controller, and Chief Accounting Officer.

Where can I find more information about Marathon Oil?

For more detailed information on Marathon Oil's latest updates, financial performance, and strategic initiatives, visit their official website at www.marathonoil.com.

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Marathon Oil Corporation

NYSE:MRO

MRO Rankings

#637 Ranked by Market Cap
#1555 Ranked by Dividends

MRO Stock Data

16.15B
559.41M
0.44%
77.02%
1.53%
Oil & Gas E&P
Crude Petroleum & Natural Gas
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United States of America
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