Marathon Oil Corp. Company News

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Texas' Austin Chalk Booms While Shale Plays Remain Mostly Dormant
Thursday, December 07, 2017 New technology applications are breaking records in the Austin Chalk.

U.S. Gulf Oil Producers Start Evacuating Staff Ahead of Tropical Storm Nate
Thursday, October 05, 2017 Oil and natural gas producers began evacuating staff at U.S. Gulf of Mexico platforms ahead of Tropical Storm Nate, the second storm in as many months to threaten Gulf Coast oil and refining facilities.

Marathon Oil Cuts Capital Budget After Posting Quarterly Loss
Wednesday, August 02, 2017 Marathon Oil Corp cuts its 2017 capital budget after posting a quarterly loss that fell in line with Wall Street's expectations.

Marathon Oil's Loss Smaller Than Expected On Higher Crude Prices
Friday, May 05, 2017 Marathon Oil reports a smaller-than-expected quarterly loss.

Cenovus Drops Most Ever as $13.3 Billion Deal Ramps Up Risks
Thursday, March 30, 2017 Cenovus Energy fell the most since its trading debut more than seven years ago after agreeing to buy Canadian oil assets from ConocoPhillips for C$17.7 billion ($13.3 billion) in a deal that increases its risks at a time of uncertain oil prices.

E&P Companies Target Potential of STACK, SCOOP Plays
Thursday, August 25, 2016 Operators are testing the oil potential of the STACK and SCOOP plays as they seek E&P opportunities that work in a lower oil price environment.

Marathon Oil Corp. Shakes Up Its Senior Leadership
Monday, August 22, 2016 With departures and promotions, Marathon Oil Corp. is undergoing several changes in its leadership.

Marathon Oil Quarterly Loss Shrinks On International Output
Wednesday, August 03, 2016 Marathon Oil says its quarterly loss shrank, beating Wall Street's expectations, as international oil production helped offset declines in US output.

Marathon Oil Flows First Gas from Alba B3 Platform Off Equatorial Guinea
Friday, July 15, 2016 Marathon Oil commences first gas from the Alba B3 compression platform offshore Equatorial Guinea.

Oil Explorers Embrace the Sharing Economy to Drill Cheaper Wells
Wednesday, June 22, 2016 The biggest oil-industry downturn in a generation has companies collaborating in ways they never thought possible.

Marathon Oil Deal Latest Big Oklahoma Bet by U.S. Drillers
Monday, June 20, 2016 Oil and gas producer Marathon Oil Corp's plans to buy a small Oklahoma producer is the latest signal U.S. shale companies are pouncing on properties in the state's high margin STACK basin as the price of oil rebounds.

Marathon Oil Signs Deals To Sell $950M Of Assets
Monday, April 11, 2016 Marathon Oil signs agreements to sell non-core assets for $950 million.

Marathon Oil Joins $7.5B Oil And Gas Equity Wave
Tuesday, March 01, 2016 Energy companies are dominating this year's US corporate share sales, raising $7.5B so far this year, with Marathon Oil the latest to tap the market to bolster balance sheets.

Marathon Oil Slashes CAPEX 50%, Posts Quarterly Loss
Wednesday, February 17, 2016 Marathon Oil slashes its 2016 spending by 50% and reports a quarterly loss as the company's results are hurt by a steep decline in crude oil prices.

ConocoPhillips Cannibalizes Dividend as Occidental Holds Firm
Thursday, February 04, 2016 ConocoPhillips joins the ranks of oil explorers curtailing dividend payouts after suffering its steepest quarterly loss in almost a decade.

AWE Sells 10% Stake in Sugarloaf AMI Project in Texas to CEP II for $190M
Wednesday, January 27, 2016 AWE agrees to sell its 10 percent stake in Sugarloaf Area of Mutual Interest (AMI) project in the Eagle Ford Shale, Texas to Carrier Energy Partners II for $190 million.

Empyrean Expects Further Upside from Sugarloaf AMI Project in 2016
Thursday, December 31, 2015 Junior oil firm Empyrean expects to see further upside in 2016 from the Marathon-operated Sugarloaf AMI project, onshore Texas.

Marathon Oil Has Third-Quarter Loss As Low Oil Prices Hurt
Wednesday, November 04, 2015 Marathon Oil reports a quarterly loss that topped Wall Street expectations.

Marathon Oil Is First Major Shale Producer to Cut Dividend
Thursday, October 29, 2015 Marathon Oil becomes the first major shale producer to cut its quarterly dividend, reducing it by 76% in an effort to prop up cash holdings as oil prices hold below $50 a barrel.

Marathon Oil Cuts Jobs, Scales Back Conventional Exploration Efforts
Thursday, September 10, 2015 Marathon Oil scales back conventional exploration efforts and cuts 40 more jobs due to low oil prices.

Marathon Oil Plans To Cut 2016 Budget By At Least $600 Million
Wednesday, September 09, 2015 Marathon Oil says it will slash its capital budget next year by at least $600 million.

Marathon Oil Posts 1Q Loss, Sticks To Production Outlook
Wednesday, May 06, 2015 Marathon Oil reports a first-quarter loss as tumbling oil prices slice its revenue nearly in half.

Croatia Could Opt for Referendum on Adriatic Gas and Oil
Monday, March 16, 2015 Croatia could hold a referendum on the planned exploitation of potential gas and oil wells in the Adriatic, Prime Minister Zoran Milanovic said, responding to growing criticism from environmental groups.

Offshore Croatia: Developing the Eastern Adriatic
Friday, March 13, 2015 The Croatian government wants to catch up with Italy when it comes to developing oil and gas resources in its part of the Adriatic Sea.

Tenaris Joins Archer, Marathon in Cost Cuts, Layoffs
Tuesday, February 24, 2015 Oil companies Tenaris, Archer and Marathon Oil plan to cut company costs and reduce their workforce as a result of the oil market crisis.

Marathon Oil Going After Costs, Has Saved $225 Million So Far
Thursday, February 19, 2015 MaMarathon Oil says it has so far captured $225 million in savings, citing streamlined shale drilling and completion processes and lower prices from oilfield service providers.

Marathon Oil Slashes Spending A Second Time, Profit Rises
Wednesday, February 18, 2015 Marathon Oil cuts its 2015 budget by another 20% to $3.5 billion and says its 4Q profit rose.

Eni, Rockhopper Give Further Details of Croatia License Award
Monday, January 05, 2015 Eni and Rockhopper Exploration provide further details of their award of Block 9 in the Adriatic Sea off Croatia.

Croatia Awards 10 Adriatic Oil, Gas Exploration Licenses
Friday, January 02, 2015 A consortium of Houston-based Marathon Oil and Austria's OMV won seven of 10 licenses awarded for oil and gas off Croatia's Adriatic coast.

Marathon Oil Cuts 2015 Capex 20% As Crude Tumbles
Wednesday, December 17, 2014 Marathon Oil says its capital expenditures will be about 20% lower next year due to the steep drop in crude oil prices.

Total Makes New Oil Discovery in Iraqi Kurdistan
Monday, December 01, 2014 French oil major Total strikes oil and gas near the city of Arbil in the autonomous Kurdistan region of Iraq, its second discovery in the Harir block in two years.

Marathon Oil Quarterly Profit Down, Hit By Lower Oil Prices
Monday, November 03, 2014 Marathon Oil says quarterly profit fell 24%, as a slide in the price of crude offset higher oil and natural gas production from shale wells.

Africa Oil Corp. Updates on Drilling at its Kenya and Ethiopia Blocks
Friday, August 29, 2014 Africa Oil Corp. provides an updates on drilling operations at its blocks in Kenya and Ethiopia.

Marathon Oil Quits Norway Via $2.1B Det Norske Deal
Monday, June 02, 2014 Marathon Oil is to sell its Norwegian business for $2.1B to Det norske in order to free up cash for shale activities in the US.

Maersk Valiant Drillships Heads to GOM After Delivery from SHI's Shipyard
Thursday, April 17, 2014 Maersk Valiant drillship heads to the Gulf of Mexico for a two year assignment after delivery from Samsung Heavy Industries shipyard in Geoje-Si, South Korea.

Feds: Oil from Dakota Fields Improperly Classified
Wednesday, February 05, 2014 Government investigators have found crude oil being transported from North Dakota's Bakken region was misclassified in samples taken from 11 out of 18 truck shipments en route to rail loading stations, federal transportation officials say.

Polish PM Sees Approval of New Shale Gas Law within Two Weeks
Wednesday, February 05, 2014 Polish Prime Minister Donald Tusk says his government would approve new investor-friendly laws within two weeks aimed at cutting red tape and regulatory hurdles that have dented the country's push to develop shale gas resources.

Maersk Drilling Names 2 Drillships in a Ceremony at SHI Yard in South Korea
Friday, January 24, 2014 Maersk Drilling names its second and third ultra deepwater drillships, Maersk Valiant and Maersk Venturer, in a ceremony at Samsung Heavy Industries shipyard in Geoje-Si, South Korea.

Marathon Oil Appoints Deanna Jones Vice President of Human Resources
Tuesday, January 21, 2014 Marathon Oil appoints Deanna L. Jones vice president of Human Resources and Administrative Services to succeed Robert L. Sovine.

Marathon to Ramp Up US Shale Activity, Market North Sea Assets
Wednesday, December 11, 2013 Marathon Oil will accelerate its US shale activity and market North Sea assets for sale as part of its 2014 strategic plans.

Tullow Well Comes up Dry Onshore Ethiopia
Monday, December 09, 2013 Tullow Oil reports that its Tultule-1 wildcat well onshore Ethiopia has come up dry.

API Waves Goodbye to Cazalot, Says Hello to Chazen
Tuesday, November 12, 2013 As Clarence Cazalot prepares for his departure from Marathon Oil Company and API, the national trade association elects Occidental Petroleum's Chazen as Next Chairman.

Marathon Finds Oil in the Kurdistan Region of Iraq
Wednesday, October 30, 2013 Marathon's operated Mirawa well discovered multiple stacked oil and natural gas producing zones.

Floodgates Reopen in New Orleans, Oil Platforms Restaff as Storm Wanes
Monday, October 07, 2013 Massive barge gates shut to prevent flooding in New Orleans reopen Sunday and energy firms started returning workers to oil platforms in the Gulf of Mexico, after officials lifted evacuation orders as Tropical Storm Karen faltered.

Libya's Biggest Western Oilfield Restarts, East in Stalemate
Monday, September 16, 2013 Libya took the first steps towards restarting some of its oil output on Monday as the government said a tentative deal with protesters in the country's west allowed pumping to resume from a major field.

Eagle Ford Formation Still Hot with Marathon, Sanchez Buys
Wednesday, September 11, 2013 Marathon Oil Corp. and Sanchez Energy announce buys in the Eagle Ford shale.

Marathon Oil to Sell Stake in Angolan Field for $590M
Tuesday, September 10, 2013 Marathon Oil plans to sell its stake in an offshore Angola field as part of an asset disposal program aimed at shoring up its balance sheet and funding exploration and development projects.

Marathon Oil CFO to Retire
Tuesday, August 27, 2013 Marathon Oil announces that Janet F. Clark, executive vice president and CFO has elected to retire after serving almost 10 years as the Company's CFO.

Total Makes Pre-Salt Find Offshore Gabon
Monday, August 19, 2013 Marathan Oil reports that Total Gabon has made its first-ever deepwater pre-salt discovery offshore Gabon.

Marathon Oil Reports Boost in 2Q 2013 Revenue on Higher Production
Wednesday, August 07, 2013 Marathon Oil reported an uptick in second-quarter 2013 net income on increased shale oil production.