Marathon Oil profit beats on higher production, lower costs [Reuters]
Marathon Oil Corporation (MRO)
Last marathon oil corporation earnings: 2/12 04:30 pm
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Source: Reuters
Marathon Oil profit beats on higher production, lower costs - Reuters 2 Min Read (Reuters) - Marathon Oil Corp beat analysts’ estimates for first-quarter profit on Wednesday, boosted by higher production and lower costs at its U.S. shale assets in the Bakken and Northern Delaware regions. Total oil production averaged 203,000 net barrels per day (bpd) in the first quarter, up 6 percent from a year ago, with U.S. crude production jumping 11 percent, adjusted for divestitures. On the back of rising production from its assets and a rebound in oil prices, Marathon expects second-quarter total oil production of 200,000 to 220,000 net bpd, with U.S. oil production of 180,000 to 190,000 net bpd. U.S. unit production costs fell 12 percent to $5.21 per barrel of oil equivalent (boe) due to ongoing cost reductions across the U.S. resource basins, particularly in the Northern Delaware, Marathon said. The company has been looking to divest its North Sea assets and focus on the rising shale oil pr
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News
- Marathon Oil Corporation Declares First Quarter 2024 DividendPR Newswire
- Analysts Estimate Marathon Oil (MRO) to Report a Decline in Earnings: What to Look Out for [Yahoo! Finance]Yahoo! Finance
- Marathon Oil Co. (NYSE: MRO) had its "buy" rating re-affirmed by analysts at Benchmark Co.. They now have a $32.00 price target on the stock.MarketBeat
- Marathon Oil (MRO) Gains But Lags Market: What You Should Know [Yahoo! Finance]Yahoo! Finance
- Marathon Oil Co. (NYSE: MRO) had its "positive" rating re-affirmed by analysts at Susquehanna. They now have a $33.00 price target on the stock.MarketBeat
MRO
Earnings
- 2/21/24 - Beat
MRO
Sec Filings
- 4/10/24 - Form ARS
- 4/10/24 - Form DEFA14A
- 4/10/24 - Form DEF
- MRO's page on the SEC website