Marathon

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

Marathon Oil Putting Emphasis on U.S. Onshore

Houston-based Marathon Oil Corp. executives on Thursday underscored their stepped-up onshore focus and said 70% of 2018 production will be from U.S. resource plays.

February 16, 2018
Marathon Overcomes Harvey, Sees U.S. Production Climbing 23-27% Year/Year

Marathon Overcomes Harvey, Sees U.S. Production Climbing 23-27% Year/Year

Houston-based Marathon Oil Corp.’s third quarter U.S. production should average toward the high end of its guidance of 230,000-240,000 boe/d net, despite the temporary impacts from Hurricane Harvey, with annual output jumping by double-digits from 2016.

October 5, 2017
For Marathon Oil’s Permian, Oklahoma Plays, Shorter Laterals May Be Just Fine

For Marathon Oil’s Permian, Oklahoma Plays, Shorter Laterals May Be Just Fine

With a large rig addition and a move into the Permian Basin as a fourth U.S. onshore play in its portfolio, Marathon Oil Corp. is obviously eyeing growth unconventionals, but it may choose to expand using shorter hydraulic fracturing (fracking) laterals, company executives said on an earnings conference call Friday.

May 9, 2017
Marathon Hits Stride in Permian With $700M Deal

Marathon Hits Stride in Permian With $700M Deal

Marathon Oil Corp. is buying again in the Permian Basin. The company is acquiring about 21,000 net surface acres, largely in the Northern Delaware basin of New Mexico, from Black Mountain Oil & Gas and other private sellers for $700 million in cash.

March 21, 2017

Marathon Oil Moves Resources to Permian, Joins Shell in Eschewing Canadian Oilsands

Marathon Oil Corp. is waving goodbye to Canada and picking up acreage in New Mexico’s Permian Basin in a mega-deal announced Thursday.

March 9, 2017

Marathon’s Permian Properties Fetch $235M

Marathon Oil Corp., which is directing an increasing share of its capital spend to Oklahoma’s stacked reservoirs, agreed Monday to sell non-operated energy assets in the Permian Basin for $235 million.

October 3, 2016
Marathon Oil’s STACK Deal ‘Ticks All the Boxes,’ Says CEO

Marathon Oil’s STACK Deal ‘Ticks All the Boxes,’ Says CEO

Houston-based Marathon Oil Corp. agreed Monday to pay $888 million for PayRock Energy Holdings LLC, which would give it another 61,000 net surface acres and 9,000 boe/d net production in the stacked reservoirs of Oklahoma’s Anadarko Basin.

June 20, 2016

Feds, Marathon Petroleum Reach $335M Deal on Refinery Flare Pollution Reduction

The Obama administration and Ohio-based refinery operator Marathon Petroleum Corp. said on Thursday they have reached an agreement under which Marathon will spend nearly $335 million to reduce gas flare air pollution at its refineries in Illinois, Kentucky, Louisiana, Michigan and Ohio.

June 10, 2016

Marathon Oil Selling Non-Core Assets For $950 Million

Marathon Oil Corp. has agreed to sell non-core assets in northwest Wyoming, Colorado, West Texas and the offshore Gulf of Mexico (GOM) for $950 million, bringing the total value of the company’s divestitures since last year to about $1.3 billion.

April 12, 2016