Marathon Oil Corporation
0JY9.L
London Stock Exchange28.76
USD
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Marathon Oil Corporation
0JY9.L
(London Stock Exchange)
Recent
price
28.76
P/E
ratio
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div
yld
- -
ROIC.AI
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- Business
- Marathon Oil Corporation engages primarily in the exploration, development, production, and marketing of crude oil, natural gas, and natural gas liquids. The company operates largely in the United States with significant assets in the Permian Basin, Eagle Ford, and Bakken shale plays, and maintains an international presence mainly in Equatorial Guinea and the United Kingdom. Its core offerings include upstream energy resources, hydrocarbon liquids, condensate, natural gas, liquefied natural gas (LNG), and methanol. Marathon Oil also owns and operates the Sugarloaf gathering system, a natural gas pipeline. Founded in 1887 and headquartered in Houston, Texas, the company historically carried out a broader portfolio including refining and marketing through a separate entity, Marathon Petroleum Corporation. A recent major corporate event is its acquisition by ConocoPhillips in November 2024 for $22.5 billion, positioning Marathon Oil as a subsidiary under ConocoPhillips. Prior to acquisition, Marathon Oil focused on disciplined capital allocation with a 2024 capital expenditure budget of $1.9 to $2.1 billion aimed at sustaining production growth and maximizing free cash flow, with investments heavily weighted toward resource plays like Eagle Ford and Bakken. The company advanced operational efficiencies, safety performance, and environmental targets such as methane gas capture and greenhouse gas intensity reduction ahead of schedule. Marathon Oil's strategic asset sales and acquisitions in recent years, including divestiture of non-core assets and purchases in Eagle Ford, reflect its emphasis on high-quality portfolio concentration and financial discipline within the upstream exploration and production sector.