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Marathon Oil Corp - Stock Quote MRO

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Morningstar's Marathon Oil Corp Stock Analysis

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Marathon Sprints to Return Cash to Shareholders; Guinea Assets to Benefit in Gas Macro Environment

Analyst Note

| Dave Meats, CFA |

Marathon Oil increased its 2022 capital expenditure guidance to $1.3 billion from $1.2 billion. The original budget incorporated 10%-15% inflation, based on $80/barrel West Texas Intermediate, but higher incremental costs based on a tighter supply chain resulted in the $100 million bump. Management stressed that while a chunk of the increase was a result of commodity inflation (fuel and chemical costs), a majority of the remaining 2022 pressure pumping and rig time expenditures were accounted for.

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Marathon Oil Corp's Company Profile

Business Description

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.

990 Town and Country Boulevard
Houston, TX, 77024-2217
T +1 713 629-6600
Sector Energy
Industry Oil & Gas E&P
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Hard Assets
Employees 1,531

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