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 reported a strong second quarter for 2022, achieving a net income of $966 million or $1.37 per diluted share. Adjusted net income stands at $934 million, reflecting robust operational performance. The company generated over $1.2 billion in adjusted free cash flow, returning $816 million to shareholders, including substantial share repurchases. With an anticipated $4.5 billion in free cash flow for 2022, Marathon continues to exceed its commitment to return at least 40% of adjusted cash flow to equity investors.
Marathon Oil Corporation (NYSE: MRO) has announced a dividend of 8 cents per share, payable on September 12, 2022. This dividend is intended for stockholders on record as of August 17, 2022. This decision reflects the company's commitment to returning value to its shareholders, signaling financial stability. The company continues to navigate the energy market, showcasing confidence in its ongoing operations.
Marathon Oil Corporation (NYSE: MRO) announced its scheduled second quarter 2022 earnings release on August 3, following the U.S. market close. A conference call to discuss the earnings will be held on August 4 at 9 a.m. ET, which will include forward-looking information. Investors and media can access the earnings release and related information on Marathon Oil's official website.
Marathon Oil (MRO) reported strong financial results for Q1 2022, with a net income of $1.3 billion and an adjusted free cash flow of $940 million. The company has returned 60% of its cash flow to investors through share repurchases and dividends, including $592 million in repurchases and a 15% dividend increase. Marathon Oil's Board authorized a share repurchase increase to $2.5 billion. Production averaged 345,000 boed, with adjusted free cash flow expected to exceed $4.5 billion for the year. The company also raised its Equatorial Guinea income guidance by $200 million.
Marathon Oil Corporation (NYSE: MRO) declared an 8 cents per share dividend on April 28, 2022, reflecting a 15% increase from the previous 7 cents per share. This dividend, payable on June 10, 2022, for stockholders of record on May 18, 2022, marks the fifth consecutive quarterly dividend increase, totaling a 167% rise since early 2021. The company emphasizes its commitment to returning cash flow to shareholders.
Marathon Oil Corporation (NYSE: MRO) has announced the release date for its first quarter 2022 earnings news, scheduled for May 4, after U.S. markets close. Alongside this, a live conference call will take place on May 5 at 9 a.m. ET, where the company will share forward-looking information. Investors and media can access all related materials through the company’s website. For further queries, media and investor relations contacts are provided.
Marathon Oil Corporation (NYSE: MRO) has announced the promotion of Rob L. White to Vice President, Controller, and Chief Accounting Officer, effective March 1, 2022. White, who has over 30 years of experience in oil and gas accounting, joined the company in 1991. He succeeds Gary Wilson, who is retiring after more than seven years. Chairman, President, and CEO Lee Tillman praised White's leadership and experience, indicating a smooth transition for the accounting organization.
Marathon Oil Corporation (NYSE:MRO) reported a fourth quarter 2021 net income of $649 million ($0.84 per share), with adjusted net income of $592 million ($0.77 per share). The company returned over 70% of cash flow to equity investors, executing $1 billion in share buybacks, reducing shares by 8%. Full year 2021 net income reached $946 million with free cash flow of $2.2 billion. For 2022, a capital budget of $1.2 billion is planned, expecting over $3 billion in free cash flow. Marathon aims for flat production while enhancing ESG objectives, including significant GHG and methane intensity reductions.
Marathon Oil Corporation (NYSE: MRO) has announced a dividend of 7 cents per share, payable on March 10, 2022, to shareholders of record as of February 16, 2022. This marks the fourth consecutive increase in their quarterly base dividend, bringing the total increase over the past year to more than 130%. The company emphasizes its commitment to providing a sustainable and competitive dividend, aligning with shareholder returns from cash flow.
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