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Marathon Oil Corp (MRO)

MRO on New York Consolidated

18.35USD
6 Dec 2016
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Latest Key Developments (Source: Significant Developments)

Marathon Oil sees $1.4 bln capital spend for resource plays in 2017
Thursday, 4 Aug 2016 10:05am EDT 

Marathon Oil Corp : Sees 2017 capital program for resource plays of $1.4 billion - Conf call . "In 2017 we can get our business back to sequential growth and live within our means with WTI in the low to mid-$50"- CEO . Expects rig count in STACK play to double from "where we are today to when we would exit in 2017" . Says Oklahoma STACK will be first priority for rig additions . Expects to continue to minimize capital allocation to conventional assets in 2017 Further company coverage: [MRO.N] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Marathon Oil Q2 revenue view $1.12 billion -- Thomson Reuters I/B/E/S
Wednesday, 3 Aug 2016 05:00pm EDT 

Marathon Oil Corp : Marathon Oil reports second quarter 2016 results . Q2 loss per share $0.20 . Q2 adjusted loss per share $0.23 . Q2 earnings per share view $-0.24 -- Thomson Reuters I/B/E/S . Marathon Oil cCrp says expects Q3 2016 north America E&P production available for sale to average 200,000 to 210,000 net boed . Q2 total revenue and other income $1.30 billion versus $1.53 billion last year . Qtrly North America E&P production costs were $6.28 per barrel of oil equivalent (BOE), down 13 percent from the year-ago period . Company is adjusting its full-year 2016 E&P Production guidance range resulting in a new range of 330,000 to 345,000 net BOED . Full-Year guidance for North America Unit production costs is being adjusted down by $1.00 per boe to a range of $6.00 to $7.00 per BOE . FY guidance for International Unit Production costs is being adjusted down by $0.50 per boe to a range of $4.50 to $5.50 per BOE . Q2 revenue view $1.12 billion -- Thomson Reuters I/B/E/S . Marathon Oil Corp says Q2 total company production averaged 384,000 net BOED in line with guidance . Full-Year capital program expected to be $1.3 billion . Expects Q3 2016 North America E&P Production available for sale to average 200,000 to 210,000 net BOED . Q3 International E&P production available for sale (excluding Libya) is expected to be within a range of 125,000 to 135,000 net BOED.  Full Article

Marathon Oil declares second quarter 2016 dividend
Wednesday, 27 Jul 2016 04:30pm EDT 

Marathon Oil Corp : Marathon Oil Corporation declares second quarter 2016 dividend .Board of directors has declared a dividend of 5 cents per share on Marathon Oil Corporation common stock.  Full Article

Marathon Oil to buy Payrock Energy Holdings
Monday, 20 Jun 2016 06:01am EDT 

Marathon Oil Corp : Announced signing of a definitive purchase and sale agreement to acquire payrock energy holdings . Agreement to acquire payrock energy holdings, llc, a portfolio company of encap investments, for $888 million . Xpect 2016 capital program on acquired acreage will be covered within our current $1.4 billion budget . Says transaction is subject to customary closing conditions and is expected to close in q3 2016, funded with cash on hand . Says "as we look into 2017, we would anticipate a minimum four-rig drilling program in our pro forma stack position" .Marathon oil announces stack acquisition.  Full Article

Marathon Oil Corp declares fourth quarter 2015 dividend
Wednesday, 27 Jan 2016 04:30pm EST 

Marathon Oil Corp:Has declared a dividend of 5 cents per share on Marathon Oil Corporation common stock.Dividend is payable on March 10 to stockholders of record date as on Feb. 17.  Full Article

Marathon Oil Corp - Lac Megantic victims' fund to begin payments without CP Rail - Reuters
Tuesday, 22 Dec 2015 07:25pm EST 

Marathon Oil Corp:A C$460 million settlement fund for victims of the 2013 Lac-Megantic crude-by-rail disaster will begin disbursements this week without the participation of Canadian Pacific Railway, the monitor involved in the payments said on Tuesday - RTRS.47 people were killed and the downtown core of the town was destroyed following the derailment of a Montreal Maine & Atlantic Railway, Ltd train carrying Bakken crude oil in July 2013 - RTRS.Parties previously named in a class action lawsuit launched after the disaster, including Irving Oil, General Electric Co, Royal Dutch Shell Plc, ConocoPhillips, Marathon Oil, have agreed to contribute to the settlement fund - RTRS.CP, which is being sued by the Quebec government for C$409 mln in Quebec Superior Court in a case related to the disaster, is not part of the fund, said a spokesman for Richter Advisory Group Inc - RTRS.CP is now the only company being threatened by a separate class action. The first amount of C$114 million will be transferred this week to the holders of wrongful death claims - RTRS.Canadian Pacific said it is not responsible for the disaster. "It was not our train, not our track, not our locomotive and not our crew," said CP spokesman Marty Cej in an email. - RTRS.The Quebec government lawsuit alleges CP, which hauled the cars from North Dakota to Montreal, was negligent when it handed over the tank cars to the Montreal, Maine and Atlantic Railway - RTRS.  Full Article

Marathon Oil Corporation signs agreement for divestiture of Gulf of Mexico Assets
Monday, 9 Nov 2015 07:30am EST 

Marathon Oil Corporation:Says sale of its operated producing properties in the greater Ewing Bank area and non-operated producing interests in the Petronius and Neptune fields in the Gulf of Mexico for $205 million.Says buyer will assume all future abandonment obligations for the acquired assets.Marathon Oil will retain its interests in certain other producing assets and acreage in the Gulf of Mexico, as well as its interests in the Gunflint development and Shenandoah discovery.  Full Article

Marathon Oil Corporation adjusts quarterly dividend
Thursday, 29 Oct 2015 06:30am EDT 

Marathon Oil Corporation:Sets quarterly dividend of $0.05 per share.Dividend is payable on Dec. 10 to stockholders of record date on Nov. 18.Says 2015 capital, investment and exploration program is now expected to be reduced by $200 million, to $3.1 billion.Declared a quarterly dividend of 5 cents per share, compared to the previous quarterly dividend of 21 cents per share.Believe the revised dividend appropriately addresses the uncertainty of a lower for longer commodity price environment.".Says anticipate a total company 2016 capital, investment and exploration program of up to $2.2 billion.Adjustment to the dividend is expected to increase annual free cash flow by more than $425 million.Third quarter results, which will be released November 4, are expected to be above current consensus expectations for EPS on adjusted basis.Says also continues to make progress advancing its plan to divest at least $500 million of non-core assets.  Full Article

Marathon Oil Corp - U.S. judge approves settlement in Canadian oil-by-rail disaster - Reuters
Thursday, 8 Oct 2015 08:00pm EDT 

Marathon Oil Corp:A U.S. bankruptcy judge on Friday approved a settlement that clears the way for payments to victims of Canada's Lac-Megantic crude-by-rail derailment, according to the trustee for the insolvent railway at the heart of the disaster - Reuters.The approval came after Canadian Pacific Railway Ltd withdrew its objections to the plan, said trustee Bob Keach - Reuters.He is aiming to have the settlement funds, some C$445 million ($345 million), paid out by the end of this year - Reuters.Forty-seven people were killed on July 6, 2013, when a Montreal, Maine & Atlantic railway train carrying Bakken oil derailed and exploded in the heart of the Quebec town of Lac-Megantic - Reuters.Parties previously named in a class action lawsuit, including closely held Irving Oil, General Electric, Shell Oil Co, ConocoPhillips, Marathon Oil and others, agreed to contribute to the compensation fund for victims of the explosion - Reuters.CP Rail, which transported the oil tank cars involved in the accident to Montreal before handing them over to Montreal, Maine & Atlantic, has not contributed to the settlement. The railway has long argued that it is not responsible for what happened after it handed over the cars - Reuters.Keach said the compromise clarified that if there is a judgment against CP in the future, any financial penalty would be reduced based on what ha already been paid under the settlement agreement - Reuters.  Full Article

Marathon Oil Corp updates FY 2015 production guidance
Wednesday, 5 Aug 2015 05:03pm EDT 

Marathon Oil Corp:Raises the lower end of FY 2015 E&P production guidance range, resulting in a new range of 375,000 to 390,000 net boed.  Full Article

BRIEF-Marathon Oil reports Q3 loss per share $0.23

* Says expects Q4 2016 North America E&P production available for sale to average 205,000 to 215,000 net boed