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United States

Profile: Marathon Oil Corp (MRO)

MRO on New York Consolidated

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26 May 2017
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Marathon Oil Corporation, incorporated on May 30, 2001, is an exploration and production (E&P) company. The Company operates through three segments: North America E&P, International E&P and Oil Sands Mining. The North America E&P segment explores for, produces and markets crude oil and condensate, natural gas liquids (NGLs) and natural gas in North America. The International E&P segment explores for, produces and markets crude oil and condensate, NGLs and natural gas outside of North America, and produces and markets products manufactured from natural gas, such as liquefied natural gas (LNG) and methanol, in Equatorial Guinea (E.G.). The Oil Sands Mining segment mines, extracts and transports bitumen from oil sands deposits in Alberta, Canada, and upgrades the bitumen to produce and market synthetic crude oil and vacuum gas oil.

North America E&P Segment

The North America E&P segment is engaged in oil and gas exploration, development and production activities in the United States. As of December 31, 2016, the Company's primary focus in the North America E&P segment is concentrated within its three unconventional resource plays. Its unconventional resource plays include Oklahoma Resource Basins, Eagle Ford and Bakken. In the South Central Oklahoma Oil Province (SCOOP) and Sooner Trend, Anadarko (basin), Canadian (and) Kingfisher (counties) (STACK) areas, the Company holds net acres with rights to the Woodford, Springer, Meramec, Osage, Oswego, Granite Wash and other Pennsylvanian and Mississippian plays. As of December 31, 2016, the Company holds approximately 145,000 net acres in south Texas. As of December 31, 2016, the Company operated more than 1,365 gross (962 net) producing wells, 32 central gathering and treating facilities and approximately 865 miles of gathering pipeline in the Eagle Ford. It also owns and operates the Sugarloaf gathering system, a 42-mile natural gas pipeline in Karnes, Atascosa and Bee Counties of south Texas. As of December 31, 2016, the Company holds approximately 270,000 net acres in North Dakota and eastern Montana. The Company's remaining properties in North America primarily consist of a number of outside-operated assets in the Gulf of Mexico. Its Gunflint field is located on Mississippi Canyon Blocks 948, 949, 992 (N/2) and 993 (N/2).

International E&P Segment

The International E&P segment is engaged in a range of activities, including oil and gas exploration, development and production across its international locations in E.G., Gabon, the Kurdistan Region of Iraq, Libya and the United Kingdom. The Company owns interest in Alba Plant LLC, an equity method investee, which operates an onshore Liquefied petroleum gas (LPG) processing plant located on Bioko Island. The LPG plant extracts secondary condensate and LPG from the natural gas stream and uses some of the remaining dry natural gas in its operations. The Company also owns interest in Equatorial Guinea LNG Holdings Limited (EGHoldings) and Atlantic Methanol Production Company LLC (AMPCO). EGHoldings operates a 3.7 million metric tons per annum (mmta) LNG production facility and AMPCO operates a methanol plant, both located on Bioko Island. The Company holds non-operated working interest in the Waha concessions.

The Company's operated asset in the United Kingdom sector of the North Sea is the Brae area complex. It holds working interest in the South, Central, North and West Brae fields; East Brae field, and Braemar field. The Company also owns non-operated working interests in the Foinaven area complex, consisting of working interest in the main Foinaven field, a working interest in East Foinaven and a working interest in the T35 and T25 fields. It holds operated working interest in the Deep Luba discovery on the Alba Block and an operated working interest in the Corona well on Block D. It holds a non-operated working interest in the Diaba License G4-223 and its related permit offshore Gabon, and a participating interest and operatorship in the Tchicuate block.

Oil Sands Mining Segment

The Company owns non-operated interest in the Athabasca Oil Sands Project (AOSP), an oil sands mining and upgrading joint venture located in Alberta, Canada. The AOSP's mining and extraction assets are located near Fort McMurray, Alberta, and include the Muskeg River and the Jackpine mines. Gross design capacity of the combined mines is 255,000 (51,000 net) barrels of bitumen per day, as of December 31, 2016. As of December 31, 2016, the Company owned or had rights to participate in developed and undeveloped surface mineable leases totaling approximately 155,000 gross (31,000 net) acres.

Company Address

Marathon Oil Corp

P O Box 3128
HOUSTON   TX   77253-3128
P: +1713.6296600
F: +1302.6555049

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