Marathon Oil Company Company News

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Wells Restarting in Texas
The Texas oil patch is slowly restarting wells after a deep freeze that swept through the region shut a record amount of US crude output.
7:00 PM EST | February 17, 2021
Marathon Will Take Frac Holidays to Cut Spending
The company is reducing spending this year to about half of 2019 levels, joining a parade of shale drillers doing the same.
8:00 PM EST | April 07, 2020
Some Refiners Benefiting From Crude-Price Drop
America's biggest fuel makers are taking advantage of low oil prices to capture profits while slowing fuel production.
8:00 PM EST | March 30, 2020
Marathon Dials Back Activity, Trims 2020 Budget
The revised budget of $1.9 billion or less is a 30 percent reduction in comparison to 2019 capital spend.
8:00 PM EST | March 10, 2020
Marathon Cuts 2020 Capital Budget by 11 Percent
The company's low organic free cash flow breakeven of $47 per barrel will be key in 2020.
7:00 PM EST | February 13, 2020
Marathon Oil Opts for Overlooked Acreage Outside of Permian
The explorer is opting to snap up cheap acreage in overlooked areas like the Louisiana Austin Chalk.
8:00 PM EST | March 11, 2019
Harvey's Wake Tempers Bullish Outlook for US Oil Output Growth
Oil analysts and some company executives had anticipated that the US could top the 10 million bpd mark by year-end.
8:00 PM EST | August 31, 2017
RoyalGate to Drill New Well in Equatorial Guinea's Block Z
RoyalGate Energy will drill a new well in Equatorial Guinea's Block Z in the first quarter of 2016.
8:00 PM EST | September 24, 2015
ShaMaran Subsidiary to Contest TAQA Default Notice
ShaMaran Petroleum's wholly owned subsidiary, GEP, will contest a default notice issued by TAQA that claims GEP failed to pay its full participating interest share of July and August cash calls for the Atrush Block Joint Operating Agreement.
8:00 PM EST | September 20, 2015
Marathon, OMV Hand Back Croatia Oil Exploration Licences
Marathon Oil and OMV return seven offshore oil and gas licenses to Croatia.
8:00 PM EST | July 28, 2015
Marathon Petroleum's MLP to Acquire MarkWest Energy for $15.63B
Marathon Petroleum buys MarkWest Energy Partners for its natural gas processing facilities.
8:00 PM EST | July 12, 2015
Lundin Appoints New MD for Norwegian Operation
7:00 PM EST | December 04, 2014
3Legs Sells its Last Polish Shale Gas Concessions
3Legs Resources sells its last shale gas concessions in Poland to Sweden's Stena Group.
7:00 PM EST | November 04, 2014
Det Norske Completes Marathon Oil Norge Acquisition
Det norske oljeselskap completes its acquisition of Marathon Oil Norge, with its chief executive stating there would be no redundancies as a result of the takeover.
8:00 PM EST | October 15, 2014
France's Total Calls Time on Polish Shale License
France's Total chooses not to renew its only shale gas exploration license in Poland, according to a company spokesman.
8:00 PM EST | April 13, 2014
Libya's NOC Interested in Marathon Oil Stake
Libya's National Oil Corp wants to buy Marathon Oil's stake in the country's Waha Oil Company.
8:00 PM EST | October 02, 2013
Marathon Oil CEO Cazalot to Retire; Replaced by ExxonMobil's Tillman
Marathon Oil Corp. says Chairman and CEO Clarence P. Cazalot Jr., will retire, and Lee M. Tillman, an ExxonMobil executive, replacing him as CEO.
8:00 PM EST | June 12, 2013
Marathon Oil: Talks to Sell Alberta Oil Sands Stake Fall Through
Marathon Oil says discussions to sell its 20% outside-operated stake in the Athabasca Oil Sands Project in Alberta were unsuccessful and talks with a prospective buyer have been terminated.
8:00 PM EST | May 22, 2013
Marathon Oil 1Q Net Falls 8.2% on Tax Provision
Marathon Oil Corp.'s first-quarter earnings fell 8.2% as the energy company set aside more for income taxes, masking revenue growth.
8:00 PM EST | May 06, 2013
Finalists Selected for UK O&G Safety Awards
Several oil and gas firms and suppliers are up for seven gongs at 2013's UK safety awards.
8:00 PM EST | March 26, 2013
Anadarko Hits Prolific Oil Pay at Shenandoah Well in GOM
The Shenandoah-2 well in the deepwater Gulf of Mexico has encountered more than 1,000 net feet of oil pay in multiple high-quality Lower Tertiary-aged reservoirs, Marathon Oil reports.
8:00 PM EST | March 18, 2013
Marathon Petroleum Swings to Fourth-Quarter Profit
Marathon swung to a fourth-quarter profit, becoming the latest refiner to beat analysts' expectations and promise to return more cash to shareholders.
7:00 PM EST | January 29, 2013
Marathon COO Waves Goodbye
Marathon Oil Corporation announces that David E. Roberts, Jr., executive vice president and chief operating officer, has resigned.
7:00 PM EST | December 09, 2012
Marathon Oil Sets $5.2B Capital Budget for 2013
Marathon Oil Corporation announced today a $5.2 billion capital, investment and exploration budget for 2013, approximately 65 percent of which is targeted to the Company's liquids-rich growth assets.
7:00 PM EST | December 03, 2012
General Exploration Partners Sell Atrush Interest
General Exploration Partners has signed a purchase and sale agreement to sell 53.2 percent of its participating interest in the Atrush Block to Abu Dhabi National Energy Company PJSC.
7:00 PM EST | December 02, 2012
Marathon Oil 3Q Net Up 11% on Strong Revenue, Margins
Marathon Oil's third-quarter earnings rose 11% amid strong revenue growth and wider margins.
7:00 PM EST | November 05, 2012
Marathon Raises 2013 Bakken, Eagle Ford Oil Production Targets
Marathon Oil says it aims to produce more than expected in unconventional U.S. oil plays next year.
7:00 PM EST | November 05, 2012
Norway Approves Boyla Field
Lundin Petroleum receives approval for plan to develop Boyla field.
8:00 PM EST | October 25, 2012
Marathon Oil Has About $1.1B in Asset-Sale Agreements So Far in 2012
Marathon Oil said it reached agreements for divestitures of about $1.1B so far this year, including the pending sale of the company's Alaska Cook Inlet assets.
8:00 PM EST | October 23, 2012
Africa Oil Concludes Kenyan Farmout Deal with Marathon
Africa Oil completes the Kenyan portion of the previously announced farmout agreement with Marathon Oil Corporation.
8:00 PM EST | October 21, 2012
Marathon Oil to Sell Noncore Eagle Ford Acreage
Marathon Oil plans to sell just under 100,000 acres from its holdings in the Eagle Ford shale in S. Texas, about one third of the acreage it holds in the booming oil region.
8:00 PM EST | October 14, 2012
Marathon Enters Ethiopia with Acquisition
Marathon Oil buys 20-percent interest in South Omo concession in Ethiopia.
8:00 PM EST | October 02, 2012
Marathon Looks to Exit Marcellus Shale
Sources say that Marathon Oil is putting gas-rich acreage in the Marcellus Shale formation up for sale.
8:00 PM EST | September 25, 2012
Magnolia Petroleum Issues Upbeat Ops Update
Magnolia reports that it is to participate in Marathon's Curtis Kerr well in North Dakota, while production has begun on two more wells.
8:00 PM EST | September 02, 2012
Marathon Oil Says Hello to New VP of NAPO
Marathon Oil announces the appointment of vice president of North America Production Operations (NAPO).
8:00 PM EST | August 27, 2012
Faroe Buys 12.5% Stake in Barents Sea Well
Faroe Petroleum's acquisition of a stake in the Darwin prospect hailed a significant step towards establishing a strategic position in the Barents Sea.
8:00 PM EST | August 22, 2012
Athasbasca Hits Production Milestone with 500MM Bbls
Shell, as operator of the Athabasca Oil Sands Project (AOSP), today announced that its oil sands operations have achieved the production milestone of 500 million barrels since production began in 2003.
8:00 PM EST | August 19, 2012
Total Farms into Marathon Blocks in Kurdistan
Total has acquired 35% working interests in the Harir and Safen blocks in Iraq's Kurdistan region from Marathon Oil Corporation, Marathon reported.
8:00 PM EST | July 30, 2012
Marathon Oil: US Trade Regulators Reviewing Alaska Deal with Hilcorp
Marathon Oil Corp. said that the U.S. Federal Trade Commission is reviewing its deal to sell Alaska O&G assets to Hilcorp Energy Corp.
8:00 PM EST | July 30, 2012
Marathon Enters Emerging Kenya Play with Farmout Agreement
Marathon Oil enter a farmout agreement with Africa Oil to acquire a position in two onshore exploration blocks amounting to more than 11 million gross acres in northwest Kenya.
8:00 PM EST | July 22, 2012
Technip Wins Marathon North Sea Contract
French firm Technip will provide services to help expand drill centers at Kneler B and Volund in the Alvheim area of the North Sea.
8:00 PM EST | July 16, 2012
UPDATE: US Gulf Producers Shut Production, Evacuate Staff as Storm Nears
Anadarko, Marathon Oil and Murphy Oil are evacuating all nonessential personnel from their GOM operations as the likelihood of a tropical storm in the region increases.
8:00 PM EST | June 22, 2012
Marathon Returns to Gabon with Diaba Farm-out Agreement
Marathon Oil Corporation re-enters Gabon through a farm-out agreement with a subsidiary of Total for the offshore Diaba license.
8:00 PM EST | June 21, 2012
Technip Wins 'Major' North Sea Contract from Marathon
Technip's deal to develop the Boyla field is valued at $381 million.
8:00 PM EST | June 19, 2012
Lundin Petroleum Gets Approval for Edvard Grieg Field
Peak production from the Edvard Grieg field, scheduled to come on stream in 2015, is expected to be 100,000 barrels of oil equivalent per day.
8:00 PM EST | June 11, 2012
Marathon, Partners Submit PDO for Boyla Field
Lundin, through its wholly owned subsidiary Lundin Norway AS and the Boyla partners, has submitted the plan for development and operation (PDO) of the Boyla field
8:00 PM EST | June 03, 2012
Cairn Joins Marathon In Cyprus Exploration Bid
Cairn Energy teams up with Marathon Oil to jointly bid for O&G exploration rights in Cyprus, where huge offshore discoveries of natural gas have reignited international tensions over the divided island.
8:00 PM EST | May 16, 2012
Statoil Hands Over Vilje Reins to Marathon
Statoil transfers operatorship of the Vilje field in the North Sea to Marathon Oil Norge.
8:00 PM EST | May 15, 2012
Marathon Agrees to Acquire Paloma II in Eagle Ford Expansion
Marathon has agreed to acquire Paloma Partners II LLC for around $750M in cash, as the company expands its operations in the oil-rich Eagle Ford shale.
8:00 PM EST | May 08, 2012
Buccaneer Energy Acquires Rig from Marathon Subsidiary
Buccaneer Energy has executed a binding purchase agreement with Glacier Drilling Company, a wholly owned subsidiary of Marathon Oil Company, to acquire the Glacier #1 drilling rig.
8:00 PM EST | April 18, 2012