Marathon Oil Quarterly Loss Shrinks On International Output


HOUSTON, Aug 3 (Reuters) - Marathon Oil Corp said on Wednesday its quarterly loss shrank, beating Wall Street's expectations, as international oil production helped offset declines in U.S. output.

The company posted a second-quarter net loss of $170 million, or 20 cents per share, compared with a net loss of $386 million, or 57 cents per share, in the year-ago period.

Excluding one-time items, the company lost 23 cents per share.

By that measure, analysts expected a loss of 24 cents per share, according to Thomson Reuters I/B/E/S.

Production rose in the company's international division thanks to ramp-ups in the United Kingdom and Equatorial Guinea. Still, overall production fell 1 percent to 384,000 barrels of oil equivalent per say due to slumps in North American output.

Shares of Marathon fell about 1 percent to $13.30 in after-hours trading on Wednesday.

(Reporting by Ernest Scheyder; Editing by Chris Reese and Leslie Adler)

Copyright 2017 Thomson Reuters. Click for Restrictions.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
HSE Advisor Engineer IV
Expertise: Engineering Manager|HSE Manager / Advisor
Location: Houma, LA
Business Development Manager
Expertise: Business Development
Location: Houston, TX
Project Controls Analyst
Expertise: Project Management
Location: Corpus Christi, 
search for more jobs

Brent Crude Oil : $51.87/BBL 0.40%
Light Crude Oil : $47.64/BBL 0.56%
Natural Gas : $2.94/MMBtu 0.67%
Updated in last 24 hours