Marathon

Lower 48 E&Ps Punch Back by Cutting Capex as Oil Prices Decimated

Lower 48 E&Ps Punch Back by Cutting Capex as Oil Prices Decimated

A slew of Lower 48 oil and natural gas producers reacted swiftly to the plummet in crude prices Monday by reducing planned spending and activity through the rest of the year.

March 10, 2020

Marathon Petroleum CEO Stepping Aside as Activist Investors Win Concessions

Marathon Petroleum Corp. Chairman and CEO Gary Heminger, 66, plans to step down in 2020 after more than eight years at the helm to assuage the concerns of activist investors.

November 1, 2019

Marathon Petroleum Under Fire to Sack CEO, Split MPLX, Refinery Units

Activist hedge fund Elliott Management Corp., whose funds collectively own about 2.5% of Marathon Petroleum Corp. (MPC), is pushing the Findlay, OH-based operator to separate its midstream, refining and convenience store businesses to unlock more value.

September 27, 2019

Marathon Oil to Expand Permian Footprint

Houston-based Marathon Oil Corp. plans to develop more acreage in the Permian Basin and is considering bolt-on acquisitions, management said during a recent call to discuss second quarter results.

August 14, 2019
Noble, Marathon Oil Eyeing Natural Gas Sales, Exports from Equatorial Guinea

Noble, Marathon Oil Eyeing Natural Gas Sales, Exports from Equatorial Guinea

Noble Energy Inc. has sanctioned the Alen natural gas development offshore Equatorial Guinea (EG), considered a major step toward creating a global exporting hub that would be operated by Marathon Oil Corp.

April 4, 2019
Marathon Oil to Continue Focus on Oklahoma’s Stacked Plays in 2019

Marathon Oil to Continue Focus on Oklahoma’s Stacked Plays in 2019

Marathon Oil Corp. has shifted into heavy development mode in Oklahoma’s stacked plays, even as it touts other basins and the diversity of holdings that include prolific basins in North Dakota and Texas-New Mexico.

November 12, 2018

Lucid Expanding Permian Processing Services in New Mexico

Dallas-based Lucid Energy Group has agreed to expand its natural gas gathering and processing in the Permian Basin of New Mexico with a subsidiary of Marathon Oil Co., and to commission a cryogenic processing plant in Lea County.

September 5, 2018
Marathon Oil Raises Production Guidance, Enters Louisiana Austin Chalk

Marathon Oil Raises Production Guidance, Enters Louisiana Austin Chalk

Marathon Oil Corp., which is working the Permian Basin, Eagle Ford and Bakken shales, in Oklahoma and the emerging Louisiana Austin Chalk, has raised 2018 production guidance by 5% to to 25-30% while maintaining the $2.3 billion capital budget.

May 7, 2018

MPLX Produces Record Lower 48 Volumes in First Quarter

Northeast midstream giant MPLX LP produced a record 395,000 b/d of ethane and heavier natural gas liquids in the Marcellus and Utica shales during the first quarter of 2018, up 18% year/year, President Michael Hennigan said Monday.

May 1, 2018

Marathon Petroleum, Andeavor Combination to Create Onshore Midstream, Refinery Powerhouse

Marathon Petroleum Corp. on Monday agreed to take over Andeavor, a combination that would create a powerful U.S. refining, marketing and midstream company that, among other things, builds a massive Permian Basin footprint.

April 30, 2018
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