marathon oil corp (MRO) Key Developments
Marathon Oil Provides Capital Budget Guidance for 2015
Dec 17 14
Marathon Oil Corporation announced that the company anticipates its 2015 capital, investment and exploration budget will be approximately $4.3 to 4.5 billion, or about 20% lower than 2014 levels, excluding its recently disposed Norway business.
Marcela E. Donadio Joins Marathon Oil Corporation Board of Directors, Effective Dec. 1, 2014
Nov 12 14
Marathon Oil Corporation announced that Marcela E. Donadio has been elected to the company's board of directors, effective Dec. 1, 2014. Donadio, 60, previously served as Americas Oil & Gas Sector Leader of Ernst & Young LLP, until her retirement this year after a nearly four-decade career.
Marathon Oil Corporation Presents at Bank of America 2014 Global Energy Conference, Nov-13-2014 04:20 PM
Nov 7 14
Marathon Oil Corporation Presents at Bank of America 2014 Global Energy Conference, Nov-13-2014 04:20 PM. Venue: The Fontainebleau Miami Beach, 4441 Collins Ave, Miami, Florida, United States. Speakers: John R. Sult, Chief Financial Officer and Executive Vice President.
Marathon Oil Corporation Reports Unaudited Consolidated Earnings and Production Results for the Third Quarter Ended September 30, 2014 and Capital Expenditure Results for the Nine Months Ended September 30, 2014; Reports Impairment for the Third Quarter Ended September 30, 2014; Provides Production and Capital Expenditure Guidance for 2014
Nov 3 14
Marathon Oil Corporation reported unaudited consolidated earnings results for the third quarter ended September 30, 2014. For the quarter, the company reported adjusted income from continuing operations of $388 million, or $0.57 per diluted share against $444 million or $0.63 per diluted share last year. Income from continuing operations was $304 million or $0.45 per basic and diluted share against $396 million or $0.56 per basic and diluted share last year. Total revenues and other income was $2,971 million against $3,127 million last year. Income from operations was $508 million against $826 million last year. Income from continuing operations before income taxes was $453 million against $755 million last year. Net income was $431 million or $0.64 per basic and diluted share against $569 million or $0.80 per basic and diluted share last year. Adjusted net income was $515 million or $0.76 per diluted share against $617 million or $0.87 per diluted share a year ago. Net cash provided by operating activities was $1,774 million against $1,645 million last year. Capital expenditures were $1,633 million against $1,162 million last year.
For the nine months, the company reported capital expenditures, including acquisitions of $4,221 million. Exploration costs other than well costs were $101 million. Capital, investment & exploration spending were $4,334 million.
For the third quarter of 2014, the company's impairment was $70 million. Unproved property impairments were $39 million against $35 million last year.
The company reported third quarter 2014 production available for sale from continuing operations (excluding Libya) averaged 409,000 net boed, compared to third quarter 2013 average of 365,000 net boed. The increase in the third quarter of 2014 was driven by North America E&P's continued growth in the U.S. resource plays. Total production available for sale was 473 mboed against 462 mboed a year ago.
For the full year 2014, E&P production guidance range narrowed to 350,000 and 360,000 net BOED. Capital expenditures, including acquisitions will be $5,669 million and capital, investment & exploration spending will be $5,882 million.
Marathon Oil Corporation Declares Third Quarter 2014 Dividend on Common Stock, Payable on December 10, 2014
Oct 29 14
Marathon Oil Corporation announced that the company's board of directors has declared a dividend of 21 cents per share on common stock. The dividend is payable on December 10, 2014, to stockholders of record on November 19, 2014.