* Shares up 2 pct after hours
* Q2 profit $0.80/share vs $0.60/share
* Q2 production for sale, excluding Libya, up 6 pct
(Adds details on shale production, share movement)
Aug 4 Marathon Oil Corp on Monday
reported a jump in second-quarter profit, driven by a strong
production growth and higher crude oil and condensate prices in
the United States.
The company's share rose as much 2 percent in trading after
Production available for sale from continuing operations,
excluding Libya, rose 6 percent in the quarter to an average of
383,000 net barrels oil equivalent per day (boed).
The increase was driven by a continued growth in North
American shale production, which primarily focuses on plays in
Texas, Oklahoma and North Dakota.
The company expects the region to produce 235 million to 248
million barrels oil equivalent per day (boed) in the third
quarter, compared with 200 million boed produced in the
corresponding quarter last year.
Marathon Oil expects overseas production available for sale,
excluding Libya, to remain flat in the current quarter.
U.S. oil and gas companies are drilling more in domestic
shale fields where wells bring better profits and steady
production growth is easier to achieve.
Marathon Oil's second-quarter profit rose to $540 million,
or 80 cents per share, in the quarter ended June 30 from $426
million, or 60 cents per share, a year earlier.
Total oil and gas sales volumes, excluding Libya, averaged
394,000 boed, up from 361,000 net boed last year.
Houston-based Marathon Oil's shares, which closed at $39.22
on Monday on the New York Stock Exchange, rose to $40 in
aftermarket trading after the company reported results.
(Reporting by Anna Driver in Houston and Kanika Sikka in
Bangalore; Editing by Lisa Shumaker)