1-Star Price
INVESTOR
5-Star Price
INVESTOR
Economic Moat
INVESTOR
Capital Allocation
INVESTOR
Marathon has comprehensively reshuffled its portfolio in the past five to 10 years, discarding most of the conventional projects it historically focused on and doubling down on U.S. shale. The international assets it has retained, in Equatorial Guinea, will be harvested for cash flows that can be redeployed in the U.S. or returned to shareholders.
Marathon is an independent exploration and production company primarily focusing on unconventional resources in the United States. At the end of 2021, the company reported net proved reserves of 1.1 billion barrels of oil equivalent. Net production averaged 347 thousand barrels of oil equivalent per day in 2021 at a ratio of 70% oil and NGLs and 31% natural gas.
