Key Developments: Marathon Oil Corp (MRO)

MRO on New York Consolidated

26.67USD
17 Dec 2014
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$1.36 (+5.37%)
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Latest Key Developments (Source: Significant Developments)

Marathon Oil Corp Declares Third Quarter 2013 Dividend
Wednesday, 30 Oct 2013 02:30pm EDT 

Marathon Oil Corporation announced that the Company's Board of Directors has declared a dividend of USD0.19 per share on Marathon Oil Corporation common stock. The dividend is payable on December 10, 2013, to stockholders of record on November 20, 2013.  Full Article

Marathon Oil Corp Evacuates Ewing Bank, Production Cut By Storm-Reuters
Friday, 4 Oct 2013 02:55pm EDT 

Reuters reported that Marathon Oil Corp said it is evacuating all personnel from its operated Ewing Bank platform in the Gulf of Mexico and has shut in production, according to its latest website update on Tropical Storm Karen on October 04, 2013. The gross production shut-in at Ewing Bank is approximately 9,000 barrels of oil equivalent per day (boepd). The net impact to Marathon Oil of all Gulf of Mexico production (operated and non-operated) shut-in is approximately 18,000 boepd, the update said. The Company has evacuated nonessential personnel from its drilling rig Ensco 8502, which was drilling the Madagascar prospect on DeSoto Canyon 757.  Full Article

Libya's NOC Interested In Marathon Oil Corp Stake-Reuters
Thursday, 3 Oct 2013 06:03am EDT 

Reuters reported that Libya's National Oil Corp (NOC) is interested in buying Marathon Oil Corp stake in one of the North African country's joint ventures, Oil Minister Abdelbari Arusi has said. Marathon is considering the possible sale of its stake in Libya's Waha Oil Company, which has capacity of 350,000 barrels per day and produces Libya's main light sweet crude grade, sources told Reuters in July.  Full Article

Marathon Oil Corp Announces CFO Change-Form 8-K
Wednesday, 28 Aug 2013 04:56pm EDT 

Marathon Oil Corp reported in its Form 8-K that on August 27, 2013, Marathon Oil Corporation (Company) announced that Janet F. Clark, Executive Vice President and Chief Financial Officer (CFO) of the Company, has elected to retire effective October 1, 2013 after serving almost 10 years with the Company. Effective September 3, 2013, Ms. Clark will serve as Executive Vice President through September 30, 2013. On August 26, 2013, the Board of Directors elected John R. Sult to succeed Ms. Clark as Executive Vice President and CFO effective September 3, 2013.  Full Article

Marathon Oil Corp Announces Increase in Quarterly Dividend
Wednesday, 31 Jul 2013 03:39pm EDT 

Marathon Oil Corp announced that Board Of Directors has approved a 12 % increase in the quarterly dividend payable on Marathon Oil Corporation common stock, resulting in a new quarterly dividend rate of 19 cents per share. The dividend is payable on Sept. 10, 2013, to stockholders of record on Aug. 21, 2013.  Full Article

Marathon Oil Corp Announces $1.5 Billion Sale of Interest in Angola Block 31
Tuesday, 25 Jun 2013 04:59pm EDT 

Marathon Oil Corp announced that its subsidiary, Marathon International Oil Angola Block 31 Limited, has entered into a definitive agreement to sell its 10% working interest in the Production Sharing Contract and Joint Operating Agreement in Block 31 offshore Angola to SSI Thirty-One Limited (Sonangol Sinopec International). The transaction has a total value of approximately $1.5 billion, excluding any purchase price adjustments at closing. The companies anticipate closing the transaction in the fourth quarter of 2013, with an effective date of Jan. 1, 2013. The transaction is subject to government, regulatory and third-party approvals, and pre-emption rights which exist on the block. SSI Thirty-One Limited currently holds a 5% working interest in the block. With this transaction, the Company has agreed upon or closed on nearly $2.9 billion in divestitures, at the upper end of its targeted $1.5 billion to $3 billion of divestitures over the period of 2011 through 2013. Production from the PSVM development on Block 31 commenced in the fourth quarter of 2012. The concessionaire of Block 31 is Sonangol, Angola's state-owned oil company. The operator is BP Exploration Angola with a 26.67% working interest. Sonangol E.P. holds 25%; Sonangol P&P holds 20% ; Statoil Angola A.S. holds 13.33%; and SSI Thirty-One Limited currently holds 5%.  Full Article

Sinopec Buys Marathon Oil Corp's Angola Oil Fields For $1.52 Billion-Reuters
Sunday, 23 Jun 2013 09:30am EDT 

Reuters reported that China's Sinopec Group has agreed to buy Marathon Oil Corp's Angolan offshore oil and gas field for $1.52 billion, the Asiain refiner producer said. Sonangal Sinopec International Ltd, the group's subsidiary, will acquire Houston-based Marathon's 10% stake on the Angolan field called Block 31, it said.  Full Article

Marathon Oil Corp Announces Changes In Chairman, President And CEO Titles
Thursday, 13 Jun 2013 08:38am EDT 

Marathon Oil Corp announced that Clarence P. Cazalot, Jr, Chairman, President and Chief Executive Officer (CEO) of Marathon Oil Corporation has elected to retire on Dec. 31, 2013. Cazalot will continue as Executive Chairman through Dec. 31, 2013. The Marathon Oil board of directors has elected Lee M. Tillman to the board of directors and to succeed Cazalot as President and CEO effective Aug. 1, 2013. The board of directors intends to nominate Dennis H. Reilley, as non-executive chairman upon Cazalot's retirement.  Full Article

Marathon Oil Corp To Sell 20% Alberta Oil Sands Stake Fall Through-WSJ
Thursday, 23 May 2013 08:27am EDT 

The Wall Street Journal reported that Marathon Oil Corp is in discussions to sell its 20% outside operated stake in the Athabasca Oil Sands Project in Alberta, Canada, were unsuccessful and talks with a prospective buyer have been terminated. Marathon Oil said it isn't engaged in further talks tied to a potential sale of the assets, but it will continue to evaluate ways to grow its portfolio. It also backed its previously announced goal of divesting between $1.5 billion and $3 billion in assets from 2011 through 2013.  Full Article

Marathon Oil Corp Declares First Quarter 2013 Dividend
Wednesday, 24 Apr 2013 03:28pm EDT 

Marathon Oil Corp announced that the Company's Board of Directors has declared a dividend of 17 cents per share on Marathon Oil Corporation common stock. The dividend is payable on June 10, 2013, to stockholders of record on May 16, 2013.  Full Article

Marathon Oil quarterly profit down, hit by lower oil prices

- U.S. oil producer Marathon Oil Corp on Monday said quarterly profit fell 24 percent, as a slide in the price of crude offset higher oil and natural gas production from shale wells.

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