Thomas Usher, chairman of the board of Marathon Petroleum Corp. (MPC), will retire following the company’s shareholder’s meeting April 27, the company said. The board of directors has elected Gary Heminger, MPC president and CEO, to succeed Usher as chairman in addition to his current duties. Usher joined United States Steel Corp. in 1965 and played a pivotal roles in both the separation of Marathon Oil and U.S. Steel in 2001 and the spinoff of MPC from Marathon Oil in 2011. Heminger joined Marathon in 1975 and has worked in a variety of groups and functions, including auditing, marketing and commercial roles, and in Marathon’s pipeline subsidiary. He held several executive positions in Marathon’s downstream business, and was appointed president of MPC, a wholly owned subsidiary of Marathon, in 2001. Heminger is also chairman of the board and chief executive officer of MPLX GP LLC.
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Articles from Marathon
MarkWest/MPLX Considering Alkylate Facility for Appalachia Butane
MarkWest Energy Partners LP and Marathon Petroleum Corp.’s (MPC) master limited partnership MPLX LP, which merged in December, said talks are underway with Appalachian producers about building an alkylate facility somewhere in Ohio or Pennsylvania.
Marathon Announces $4.2B 2016 Budget, With Large Chunk For MarkWest Growth
Marathon Petroleum Corp. outlined a $4.2 billion 2016 capital investment plan at an investor meeting on Thursday, just two days after the company said MarkWest Energy Partners LP unitholders overwhelmingly approved a merger with MPC’s master limited partnership (MLP), MPLX LP.
Luster of North Dakota’s Tyler Shale Fades on Low Prices
The same horizontal drilling and hydraulic fracturing technologies that unlocked gushers across North America’s unconventional plays have so far turned up meager results in North Dakota’s Tyler Shale in Slope County.
Marathon Petroleum Adds $400M Cash to MPLX/Markwest Merger Deal
Marathon Petroleum Corp. (MPC) is adding $400 million to the cash consideration payable to MarkWest Energy Partners LP unitholders in a proposed merger with MPC’s midstream master limited partnership, MPLX LP.
Marathon Taking $205M For GOM Properties
Marathon Oil Corp. said Monday it is selling most of its operated and nonoperated properties in the Gulf of Mexico (GOM) to an undisclosed buyer for $205 million.
Marathon, EOG Hunker Down, Cutting CapEx, Rigs
Two Houston-based major players in the Eagle Ford and Bakken shale plays said Thursday they are further cutting back on operations this year in light of the oil price crash.
Marathon’s U.S. Onshore Can Weather Price Downturn, Executives Say
Marathon Oil Corp.’s U.S. resource plays can hold their own in a low-price environment, and the company’s U.S. drilling program is expected to proceed essentially unchanged from plan, executives said Tuesday.
Marathon Oil’s U.S. Onshore Blitzkrieg Intensifies in 2014
Marathon Oil Corp. will spend more than half of its global capital next year in North American resource shale plays, with the rig count in both the Eagle Ford and Bakken shales increasing by 20%, and twice as many rigs working Oklahoma’s Woodford Shale.
Earthworks Blasts TCEQ on Eagle Ford, and the Regulator Responds
A report by environmental group Earthworks on the Eagle Ford Shale alleges “reckless endangerment” by regulator Texas Commission on Environmental Quality (TCEQ); however, TCEQ has fired back that Earthworks is being reckless with the facts of its monitoring and enforcement of drilling, fracking and production in the region.
