Marathon Oil’s Low Production Costs Make MRO Stock Very Attractive [Yahoo! Finance News]
Marathon Oil Corporation (MRO)
Last marathon oil corporation earnings: 2/12 04:30 pm
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marathonoil.com/investors
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Source: Yahoo! Finance News
Marathon Oil’sMROSource: Casimiro PT / Shutterstock.comMarathon reportedlyhas very low oil production costsThat was before thenovel coronavirusInvestorPlace - Stock Market , Stock Advice & Trading TipsAfter cutting those expenses, Marathon will be able to break even with oil at $40 per barrel. Fortunately, Marathon was able to hedge 100,000 barrels per day of its second-quarter oil production.Under the deal, it will receive an average of $30.73 per barrel for 60,000 barrels per day and an average of at least $32.89 per barrel for 40,000 barrels per day. In the fourth quarter of 2019, the company produced an average of 196,000 barrels of oil per day. But given Marathon’s low production costs and its hedging, its Q2 losses should be manageable.The picture improves further in Q2 and Q3. It has hedged 80,000 barrels per day at an average minimum price of $55 per barrel for both quarters.Oil Prices Look Set to ClimbAround the world, some shutdowns have started to ease. In Europe, Austria,
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