Post Tagged with: "Marathon Oil"

John Fox, Founder, former Chairman and CEO of MarkWest Energy Partners, issues open letter to the board of directors of Marathon Petroleum Corporation supporting recent decisions and the appointment of Michael Hennigan as CEO

John Fox, Founder, former Chairman and CEO of MarkWest Energy Partners, issues open letter to the board of directors of Marathon Petroleum Corporation supporting recent decisions and the appointment of Michael Hennigan as CEO

PR Newswire


DENVERMarch 30, 2020 /PRNewswire/ — John M. Fox, beneficial owner of 1,427,826 common units of MPLX LP and 62,583 shares of Marathon Petroleum Company, today released the following open letter to the board of directors of …

March 31, 2020 - 3:00 pm Closing Bell Story‎, Energy News, People
Permian operators slash 2020 plans as oil market craters

Permian operators slash 2020 plans as oil market craters

Enverus

Oil & Gas 360 Publishers Note: This blog from Erin Faulkner at Enverus is an excellent summary of the  top operators in the Permian and their financial updates. Enverus has over 1,700 employees and has customers in over 50

Source: Houston Chronicle

Marathon Oil cuts capital spending by 20 percent after crude prices collapse

Houston Chronicle


Houston exploration and production company Marathon Oil on Tuesday said it is cutting its 2020 drilling budget by 20 percent, a day after oil prices collapsed to almost $30 per barrel.

In reducing planned capital spending to $1.9 …

Source: Houston Chronicle

Marathon Oil cuts drilling budget amid 56 percent drop in profit

Houston Chronicle


Houston exploration and production company Marathon Oil has cut its drilling budget by about 10 percent amid an ongoing shale slump that caused revenue and profits to decline in 2019.

In a Wednesday afternoon statement, Marathon said the …

Source: Houston Chronicle

Democrats call out Marathon Petroleum for ‘relentless lobbying against climate action’

Houston Chronicle


WASHINGTON – A trio of Democratic Senators is asking some of Marathon Petroleum’s largest shareholders, including JP Morgan Chase and Blackrock, to warn the Ohio-based refining company that it needs to stop lobbying against climate action.

“Marathon …

January 13, 2020 - 12:00 pm Closing Bell Story‎, Energy News, Politics & Opinions
Source: Marathon Petroleum

Marathon Petroleum mulls selling two refineries: Bloomberg

Source: Reuters


(Reuters) – U.S. refiner Marathon Petroleum Corp, which is under pressure from activist investor Elliott Management Corp, is considering the sale of two plants in Alaska and Utah, Bloomberg reported, citing people familiar with the matter.

Elliott urged …

Marathon Oil Profit Jumps 50% on Higher U.S. Shale Production

Marathon Oil Profit Jumps 50% on Higher U.S. Shale Production

From Reuters


Marathon Oil Corp (MRO.N) reported a 50% jump in quarterly adjusted profit on Wednesday, as higher U.S. shale output countered lower realized crude prices and production costs fell.

The company, like many other U.S. oil producers, is extracting …

Marathon Oil Closes on Sale of U.K. Business

Marathon Oil Closes on Sale of U.K. Business

Marathon Oil Closes on Sale of U.K. Business

Noble Energy, Marathon Oil Commit to Alen Field Gas Play

Noble Energy, Marathon Oil Commit to Alen Field Gas Play

Marathon calls it the initial step in creating EG gas ‘mega hub’ 
Startup planned for 1H 2021
Noble Energy, Inc. (NYSE: NBL) has approved the Alen natural gas development offshore Equatorial Guinea (EG).

Natural gas from the Alen field will

Marathon Oil Adds Directors to Board

Marathon Oil Adds Directors to Board

Jason Few and Kent Wells elected to Marathon Oil Corporation Board of Directors

Marathon Oil will Divest U.K. Business

Marathon Oil will Divest U.K. Business

Marathon Oil Signs Agreement for Divestiture of U.K. Business

Marathon Boasts Free Cash At $45 WTI

Marathon Boasts Free Cash At $45 WTI

$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

Middle Bakken Core Extension 4-Well Pad Tests at 2,400 BOEPD

Middle Bakken Core Extension 4-Well Pad Tests at 2,400 BOEPD

Marathon Oil Corporation (stock ticker: MRO) reported that its four-well Middle Bakken pad at the Ajax area of Dunn County, North Dakota achieved an estimated average 30-day initial production (IP) rate of over 2,400 barrels of oil equivalent per day

San Mateo Midstream Enters Agreement with Marathon Oil

San Mateo Midstream Enters Agreement with Marathon Oil

San Mateo Midstream, LLC (“San Mateo”) today announced that its wholly-owned subsidiary, Black River Water Management Company, LLC (“Black River”), has entered into a long-term agreement with a wholly-owned subsidiary of Marathon Oil Corporation (“Marathon Oil”) in Eddy County, New …

June 14, 2018 - 4:01 pm Closing Bell Story‎, Energy News
Marathon Oil Preps for $2.3 Billion CapEx in 2018, Forecasts ~400 MBOEPD Net Production

Marathon Oil Preps for $2.3 Billion CapEx in 2018, Forecasts ~400 MBOEPD Net Production

Marathon Oil Corporation (ticker: MRO) will have a $2.3 billion capital budget for 2018. The company said the budget is self-funding at $50 average WTI and will generate free cash flow at $60 average WTI. More than 90% will be …

Marathon Oil Corporation (MRO) Increases Q3 Production

Marathon Oil Corporation (MRO) Increases Q3 Production

All four basins are competing very strongly. That’s a great problem to have – Tillman

Q3 highlights

  • Total production excluding Libya averaged 371,000 net BOEPD, up 6% sequentially and above top end of guidance; 23,000 net BOEPD from Libya
  • U.S.
Cheniere Gets Commitments from Devon, Marathon and Gulfport for Proposed STACK/SCOOP-to-Gulf Coast Gas Pipeline

Cheniere Gets Commitments from Devon, Marathon and Gulfport for Proposed STACK/SCOOP-to-Gulf Coast Gas Pipeline

Cheniere’s Midship open season ends March 30

Cheniere Energy’s (ticker: LNG) Midship Pipeline Company, LLC has signed agreements with foundation shippers to support construction of a 200 mile, 36-inch interstate natural gas pipeline project and has launched a binding open …

Marathon Jumps into the Permian with 70,000-Acre Acquisition, Sells Canadian Oil Sands Interest

Marathon Jumps into the Permian with 70,000-Acre Acquisition, Sells Canadian Oil Sands Interest

Marathon enters Permian for $13,900 per acre; exits oil sands with $2.5 billion cash sale to Shell and Canadian Natural Resources

Marathon Oil (ticker: MRO) has agreed to acquire approximately 70,000 net surface acres in the Permian basin from BC …

The STACK and SCOOP Valued at $40 Billion with Upside

The STACK and SCOOP Valued at $40 Billion with Upside

Oklahoma’s STACK and SCOOP plays are dominated by five players – 2nd most active U.S. plays

With roughly 31% of active rigs in the U.S. focusing on the Permian, it’s easy to say plays like the Delaware Basin have …

Marathon Oil Shares Down 7% Due to Management Changes

Marathon Oil Shares Down 7% Due to Management Changes

Management changes spook investors

The stock price of Marathon Oil Corp. (ticker: MRO) fell over 7% today as the company announced a number of changes in its senior management. The shakeup includes the exit of the company’s CFO, J.R. Sult, …

August 22, 2016 - 4:59 pm Closing Bell Story‎, Oil and Gas 360 Articles
Marathon Adding $888 Million of STACK Acreage

Marathon Adding $888 Million of STACK Acreage

Private Equity Cashing In: EnCap Company PayRock Energy Built the STACK Position

Marathon Oil has reached an agreement to purchase privately held PayRock Energy Holdings for $888 million in a cash transaction. PayRock holds approximately 61,000 care acres in the …

Is the Shale Boom Finally Taking a Breather?

Is the Shale Boom Finally Taking a Breather?

Heavy hitting U.S. shale producers lower production guidance 10% or more for ‘16

U.S. shale producers are beginning to announce production cuts as the global glut is keeping prices lower for longer. There is a marked difference as companies begin …