$60 WTI would yield $2.2 billion in free cash in 2019-2020
By Richard Rostad, analyst, Oil & Gas 360

Marathon Oil (ticker: MRO) announced 2018 results and reserves yesterday, showing net earnings of $390 million, or $0.47 per share.

Marathon earned just under $1.1 billion in 2018, a major improvement from the $5.7 billion loss the company posted in 2017.

Marathon produced 411 MBOEPD in Q4, down slightly from the 419 MBOEPD it produced in Q3. This drop is due to declining international operations, as U.S. production rose by 2 MBOEPD sequentially. The company’s yearly production of 408 MBOEPD is up 11% from 2017, or 16% if adjusted for divestitures.

This growth will slow in 2019, as Marathon’s capital plan calls for 4% produc...

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