June 1, 2018 - 7:20 AM EDT
Print Email Article Font Down Font Up Charts

Free Research Report as Marathon Oil's Revenue Soared 62%; Turned Profitable on an Adjusted Basis

Stock Monitor: Black Stone Minerals Post Earnings Reporting

LONDON, UK / ACCESSWIRE / June 1, 2018 / If you want access to our free earnings report on Marathon Oil Corp. (NYSE: MRO) ("Marathon"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=MRO. Marathon Oil Corporation (NYSE: MRO), reported its first quarter fiscal 2018 operating and financial results on May 02, 2018. The energy Company outperformed top- and bottom-line expectations and provided production guidance for the upcoming quarter and fiscal year. Register today and get access to over 1,000 Free Research Reports by joining our site below:


Active-Investors.com is currently working on the research report for Black Stone Minerals, L.P. (NYSE: BSM), which also belongs to the Basic Materials sector as the Company Marathon Oil. Do not miss out and become a member today for free to access this upcoming report at:


Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Marathon Oil most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:


Earnings Highlights and Summary

For the first quarter 2018, Marathon reported revenue and other income of $1.73 billion compared to $1.07 billion in Q1 2017. The Company's reported numbers beat analysts' estimates of $1.35 billion.

In Q1 2018, Marathon's total production averaged 398,000 net barrels of oil equivalent per day (boed), excluding Libya.

Marathon reported net income of $356 million, or $0.42 per diluted share, in Q1 2018 compared to $4.96 billion, or $5.84 per diluted share, in Q1 2017.

Marathon's adjusted net income was $154 million, or $0.18 per diluted share, for Q1 2018 compared to net loss of $57 million, or $0.07 per diluted share, in Q1 2017, and came in ahead of Wall Street's estimates of $0.15 per share. The adjustments to net income from continuing operations for the reported quarter totaled $202 million before tax, primarily due to a $257 million gain from sale of the Libya subsidiary, partially offset by an unrealized loss of $43 million on commodity derivatives.

Operating Details

During Q1 2018, Marathon's US E&P production averaged 284,000 net boed, up 9% on a q-o-q basis. The Company's reported quarter production from the US resource plays was 269,000 net boed, up from 249,000 net boed in the previous quarter. First quarter US E&P unit production costs were $5.89 per boe.

Marathon's Eagle Ford production averaged 104,000 net boed in Q1 2018 compared to 105,000 net boed in Q4 2017. The Company brought 34 gross Company-operated wells to sales with average 30-day initial production (IP) rates of 1,750 boed.

In Q1 2018, Marathon's Bakken production averaged 74,000 net boed, up 7% compared to 69,000 net boed in Q4 2017. The Company brought 11 gross Company-operated wells to sales, six of which were in core Hector with average 30-day IP rates of 2,600 boed. The Arkin well in Hector set a new Williston Basin Three Forks record delivering a 30-day IP oil rate of 3,040 barrels of oil per day (bopd).

Marathon's Oklahoma production averaged 75,000 net boed during Q1 2018, up 17% from 64,000 net boed in Q4 2017. The Company brought 17 gross operated wells to sales primarily focused on Meramec leasehold activity in the STACK. Marathon's Northern Delaware production averaged 16,000 net boed in the reported quarter, up from 11,000 net boed in the prior quarter. The Company brought nine gross Company-operated wells to sales across the Malaga, Red Hills, and Ranger areas in Eddy and Lea Counties, seven of which had average 30-day IP rates of 1,460 boed.

International E&P

Marathon's International E&P production, excluding Libya, averaged 114,000 net boed for Q1 2018 compared to 121,000 net boed in Q4 2017. The decrease reflected planned turnaround activity in EG that was completed in the reported quarter. First quarter 2018 International E&P unit production costs (excluding Libya) averaged $5.37 per boe, up sequentially due to the timing of liftings in the UK and international production mix.

Cash Matters

Marathon's total liquidity as of March 31, 2018, was approximately $5 billion, which consisted of $1.6 billion in cash and cash equivalents and an undrawn revolving credit facility of $3.4 billion. On March 01, the Company closed on the sale of its Libya subsidiary for $450 million and proceeds were received on the same day. Additionally, the final Canadian oil sands payment of $750 million was received. Marathon's net operating cash flow was $649 million for reported quarter, or $707 million before changes in working capital.

Production Guidance

Marathon expects second quarter 2018 US production to be average 280,000 to 290,000 net boed. Within this guidance, the Company expects US resource play production to average 270,000 to 280,000 net boed, while International production is expected to average 115,000 to 125,000 net boed.

Stock Performance Snapshot

May 31, 2018 - At Thursday's closing bell, Marathon Oil's stock slightly fell 0.46%, ending the trading session at $21.43.

Volume traded for the day: 12.70 million shares.

Stock performance in the last month – up 17.75%; previous three-month period – up 47.49%; past twelve-month period – up 64.59%; and year-to-date – up 26.58%

After yesterday's close, Marathon Oil's market cap was at $18.96 billion.

The stock has a dividend yield of 0.93%.

The stock is part of the Basic Materials sector, categorized under the Independent Oil & Gas industry.


Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.


The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email [email protected]. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.


A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.


This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.


For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: [email protected]
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active-Investors

Source: ACCESSWIRE Investor Awareness (June 1, 2018 - 7:20 AM EDT)

News by QuoteMedia

Legal Notice