Post Tagged with: "Marathon"

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 …

Alaska in Talks to Purchase ConocoPhillips’ Nikiski Kenai LNG Facility

Marathon Flips LNG Export Model Around

From the Alaska Journal of Commerce

After buying a mothballed liquefied natural gas export plant in Nikiski, Marathon Petroleum is planning to flip it around to become an import terminal.

Marathon Petroleum, the newly-merged oil and gas giant formerly known …

May 23, 2019 - 7:53 am Closing Bell Story‎, Energy News, LNG
Marathon Petroleum Grows End User Presence with 900 MBO Terminal and Retail Acquisition

Marathon Petroleum Grows End User Presence with 900 MBO Terminal and Retail Acquisition

Marathon Petroleum Corp. to acquire a terminal and retail locations in Buffalo, New York

April 15, 2019 - 7:00 am Closing Bell Story‎, Downstream, Press Releases
Marathon, Motiva and Phillips 66 Winners in 4.3 Million Barrel SPR Crude Oil Sale

Marathon, Motiva and Phillips 66 Winners in 4.3 Million Barrel SPR Crude Oil Sale

Winning offers in the ~$65-$67 range
The U.S. Department of Energy’s (DOE) Office of Fossil Energy announced on March 22 that it has awarded contracts to winning bidders in the recent Strategic Petroleum Reserve (SPR) crude oil sale.
DOE offered

Marathon Petroleum Earns $3.43 Billion in 2017, $5.5 Billion MPLX Offering

Marathon Petroleum Earns $3.43 Billion in 2017, $5.5 Billion MPLX Offering

Marathon Petroleum Corp. (ticker: MPC) earned $2.02 billion, or $4.09 per diluted share, in Q4 2017. This is significantly more than in Q4 2016, where the company had earnings of $227 million, or $0.43 per diluted share. FY 2017 earnings …

It Just Makes Sense, Gary: John M. Fox Responds to Marathon’s $10 Billion Valuation

It Just Makes Sense, Gary: John M. Fox Responds to Marathon’s $10 Billion Valuation

On Dec. 15, 2017 Marathon Petroleum Corp. (ticker: MPC) and MPLX LP (ticker: MPLX) announced a definitive agreement for MPC to exchange its general partner (GP) economic interests in MPLX, which include incentive distribution rights (IDRs), for 275 million newly …

December 19, 2017 - 5:56 pm Closing Bell Story‎, Finance, Oil and Gas 360 Articles
North Dakota Oil Production – Same Players, Different Pecking Order

North Dakota Oil Production – Same Players, Different Pecking Order

Continental, Whiting, others shift positions from 2 years ago

The North Dakota Industrial Commission released its September 2017 oil production data this week, reporting per-well production across the state.

The largest oil producers in the Bakken/Three Forks plays in North …

Canadian Natural Resources Raises $527 Million with Cold Lake Pipeline Sale

Canadian Natural Resources Pays Shell, Marathon $8.24 Billion

 CNQ finalizes acquisition of 70% of Athabasca Oil Sands Project

Canadian Natural Resources Limited (ticker: CNQ) announced today that it has completed the acquisition of 70% of the Athabasca Oil Sands Project.

The remaining 30% of the working interest is …

Fox to Marathon: Don’t Put MPLX in the Penalty Box

Fox to Marathon: Don’t Put MPLX in the Penalty Box

MarkWest Co-Founder John Fox confirms stance that Marathon Petroleum should eliminate IDRs before refinery dropdowns

John M. Fox, co-founder and former chairman and CEO of MarkWest Hydrocarbon, which merged with Marathon Petroleum’s MPLX LP (ticker: MPLX) in December 2015, issued …

MPLX LP Reports First Quarter 2016 Financial Results

MPLX LP Reports First Quarter 2016 Financial Results

  • Reported first-quarter adjusted EBITDA of $302 million; distributable cash flow of $236 million
  • Declared distribution of $0.505 per common unit, a 23 percent increase over first-quarter 2015
  • Announced a $1 billion private placement of convertible preferred securities with third-party investors
MPLX LP Pulls Back the Reins, Cuts Dividend Growth in Half

MPLX LP Pulls Back the Reins, Cuts Dividend Growth in Half

Just 63 days after the close of a transformative purchase of MarkWest Energy Partners, Marathon Petroleum, the General Partner of MPLX LP (ticker: MPLX), is downwardly adjusting its dividend growth plan for the MLP – plans that it made public …

MarkWest Energy: Anatomy of a Bad Deal

MarkWest Energy: Anatomy of a Bad Deal

MarkWest Energy:  Sold.  “For Pennies on the Dollar.”  Unitholders Say “No” on Management Bonus Payments

MarkWest Energy Partners (ticker: MWE) distributed a news release announcing that unitholders approved the merger with MPLX (ticker: MPLX), an MLP created by Marathon Petroleum …