Profile: Marathon Oil Corp (MRO)
24 May 2019
Marathon Oil Corporation, incorporated on May 30, 2001, is an exploration and production (E&P) company. The Company operates through two segments: United States E&P, International E&P. The United States E&P segment explores for, produces and markets crude oil and condensate, natural gas liquids (NGLs) and natural gas in the United States. The International E&P segment explores for, produces and markets crude oil and condensate, NGLs and natural gas outside of the United States, and produces and markets products manufactured from natural gas, such as liquefied natural gas (LNG) and methanol, in Equatorial Guinea (E.G.).
United States E&P Segment
The United States E&P segment is engaged in oil and gas exploration, development and production activities in the United States. As of December 31, 2017, the Company's primary focus in the United States E&P segment is concentrated within its four unconventional resource plays. Its unconventional resource plays include Eagle Ford, Bakken, Oklahoma and Northern Delaware. 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, 2017, the Company operated 32 central gathering and treating facilities across the field that support more than 1,500 producing wells. It also owns and operates the Sugarloaf gathering system, a 42-mile natural gas pipeline in Karnes, Atascosa and Bee Counties of south Texas. The Company's remaining properties in the United States primarily consist of a number of outside-operated assets in the Gulf of Mexico.
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.
Marathon Oil Corp
P O Box 3128
HOUSTON TX 77253-3128
Company Web Links
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