Marathon

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.

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.

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.

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.

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.

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.

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.

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.

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.