MC

Marathon Oil Corporation

www.marathonoil.com link_icon

Marathon Oil Corporation Market Research Report



Company Overview



Name:


Marathon Oil Corporation

Mission of the Company:


To produce the energy the world needs in a safe, responsible, and ethical manner.

Foundation Details:


  • Founded: The company has deep roots going back to 1887, originally starting as Ohio Oil Company.

  • Independent E&P Status: July 1, 2011.


Key People:


  • Chairman, President, and CEO: Lee Tillman

  • Executive Vice President and CFO: Rob White

  • Executive Vice President, Corporate Development and Strategy: Pat Wagner

  • Executive Vice President, Operations: Mike Henderson

  • Executive Vice President, General Counsel, and Secretary: Kim Warnica

  • Executive Vice President and Advisor to the CEO: Dane Whitehead

  • Senior Vice President, Technology & Innovation and CIO: Bruce McCullough

  • Senior Vice President, Human Resources: Jill Ramshaw

  • Vice Presidents of Operations: Martin Stuart, Tom Hellman, Dale Kokoski

  • Vice President, Controller and Chief Accounting Officer: Zach Dailey


Headquarters:


Houston, Texas

Number of Employees:


No information is available

Revenue:


No information is available

Known For:


Marathon Oil is known for being an independent exploration and production (E&P) company focused on U.S. unconventional resource plays, as well as maintaining a world-class integrated gas business in Equatorial Guinea.

Products



Overview:


Marathon Oil Corporation is engaged in the exploration, production, and management of oil and natural gas resources.

Product Portfolio:


1. Oil
  • Description: Crude oil extraction and production.

  • Key Features: High-purity, efficient extraction from U.S. resource plays.


2. Natural Gas (NGL)
  • Description: Natural gas liquids production.

  • Key Features: Balanced production with approximately 50% oil and 50% gas/NGL mix.


High-Level Description:


The company's operations are centered around four major U.S. resource plays: Eagle Ford, Bakken, STACK/SCOOP, and Permian. Each of these regions is significant for their oil-rich deposits and technologically advanced extraction techniques. Additionally, Marathon Oil has significant operations in Equatorial Guinea, mainly revolving around integrated gas business.

Recent Developments



Recent Developments in the Company:


1. MRO Receives Stockholder Approval for Proposed Merger with ConocoPhillips.
2. Launch of the latest Sustainability Report highlighting 2022 ESG results.

New Products Launched:


No information is available

New Features Added to Existing Products:


No information is available

New Partnerships:


  • Pecos Watershed Conservation Initiative: Marathon Oil supported cutting-edge research on critical species and the implementation of proven conservation strategies in the Pecos Watershed.


Other Developments:


  • Earnings Reports and Calls:

  • Second Quarter 2024 Results: Reported on August 7, 2024.

  • First Quarter 2024 Results: Reported on May 1, 2024.

  • Third Quarter 2024 Earnings Scheduled: Announced for release.


  • Market Position:

  • Stock Ticker: MRO (New York Stock Exchange)

  • Commitment to free markets: Opposes market manipulation and promotes free market principles.


  • Awards and Recognitions:

  • MRO was named a 2023 Informatica Innovation Award Winner in the Cloud Modernization Category.

  • Received Community and Social Investment Award at the Eagle Ford Excellence Awards.


  • Community Engagement:

  • Active in supporting local education through initiatives like "Unconventional Thinking in Teaching" grant program and partnerships with organizations like the Barbara Bush Houston Literacy Foundation.

  • Engaged in environmental conservation efforts including tree planting and supporting wildlife-friendly fencing projects.


Sustainability and Corporate Responsibility



ESG Initiatives:


1. Annual Sustainability Reports: Highlighting progress in environmental, social, and governance (ESG) efforts.
2. Environmental Initiatives: Focused on reducing ecological impact through responsible operations and innovative solutions.
3. Social Responsibility: Marathon Oil emphasizes building healthier, safer, and more resilient communities through investments in public health, safety, and education.
4. Governance: Commitment to ethical business practices, maintaining high integrity standards.

This comprehensive review captures the strategic posture, operational insights, and recent advancements at Marathon Oil Corporation. The company continues to emphasize sustainability and stakeholder value while operating in a competitive industry landscape.