Financial Performance - Marathon Oil reported third quarter 2024 net income of $287 million or $0.51 per diluted share, with adjusted net income of $360 million or $0.64 per diluted share[1]. - Total revenues and other income for Q3 2024 were $1,791 million, a decrease of 1.2% compared to $1,813 million in Q3 2023[15]. - Net income for Q3 2024 was $287 million, down 36.7% from $453 million in Q3 2023[15]. - Adjusted net income per diluted share for Q3 2024 was $0.64, compared to $0.77 in Q3 2023, reflecting a decrease of 17%[16]. - Total costs and expenses increased to $1,251 million in Q3 2024, up from $1,144 million in Q3 2023, marking an increase of 9.4%[15]. - Net cash provided by operating activities was $1,209 million in Q3 2024, compared to $1,066 million in Q3 2023, indicating a year-over-year increase of 13.4%[18]. - Free cash flow for Q3 2024 was $659 million, an increase from $573 million in Q3 2023, representing a growth of 15%[18]. Production and Operations - U.S. production averaged 379,000 net boed during the third quarter, with oil production averaging 198,000 net bopd, a significant increase from 183,000 net bopd in the second quarter[2]. - Marathon Oil raised full-year 2024 production guidance to 192,000 net bopd and 393,000 net boed, compared to prior guidance midpoints of 190,000 net bopd and 390,000 net boed[5]. - The company brought a total of 72 gross Company-operated wells to sales during the third quarter[2]. - The average U.S. unit production cost for the third quarter was $5.97 per boe[2]. - The company expects fourth quarter oil production to moderate to approximately 190,000 net bopd, consistent with the phasing of its capital program[5]. - Total net production for Q3 2024 was 421 mboed, unchanged from Q3 2023[19]. Debt and Cash Management - The company achieved a sequential gross debt reduction of $545 million in the third quarter, with cash and cash equivalents increasing by $57 million[1]. - Marathon Oil discontinued its share repurchase program due to the pending merger with ConocoPhillips[1]. Price Realizations and Market Conditions - Average price realizations for crude oil and condensate in the U.S. decreased to $73.92 per bbl in Q3 2024 from $80.90 per bbl in Q3 2023, representing a decline of 8.9%[23]. - The average price for natural gas liquids in the U.S. was $20.40 per bbl in Q3 2024, down from $21.37 per bbl in Q3 2023, a decrease of 4.5%[23]. - International average price realizations for crude oil and condensate increased to $61.68 per bbl in Q3 2024 from $64.30 per bbl in Q3 2023, a decline of 4.1%[23]. - The average total natural gas price increased to $5.75 per mcf in Q3 2024 from $0.24 per mcf in Q3 2023, a significant increase[23]. - The average price for natural gas sold as LNG increased to $10.76 per mcf in Q3 2024 from $8.52 per mcf in Q3 2023, an increase of 26.3%[23]. - The average price for WTI crude oil decreased to $75.27 per bbl in Q3 2024 from $82.22 per bbl in Q3 2023, a decline of 8.9%[23]. - The company reported a decrease in average price realizations for natural gas in the U.S. to $1.45 per mcf in Q3 2024 from $2.28 per mcf in Q3 2023, a decline of 36.4%[23]. Derivative Contracts - The company has outstanding derivative contracts for crude oil with a ceiling price of $95.95 per bbl and a floor price of $65.00 per bbl for 50,000 bbls/day in Q4 2024[24]. - For natural gas, the company has a ceiling price of $5.85 per MMBtu and a floor price of $2.50 per MMBtu for 150,000 MMBtu/day in Q1 2025[24]. - The company is actively managing its derivative contracts to mitigate price volatility in the crude oil and natural gas markets[24]. Reinvestment and Gains - The reinvestment rate for Q3 2024 was 44%, down from 65% in Q2 2024[18]. - The company reported a net gain on commodity derivatives of $9 million in Q3 2024, compared to a net gain of $1 million in Q3 2023[15].

Financial Performance - Marathon Oil Corporation reported a third quarter 2024 net income of $287 million or $0.51 per diluted share, with adjusted net income of $360 million or $0.64 per diluted share [1][26][27] - Net operating cash flow was $1,209 million, with adjusted cash flow from operations (CFO) of $1,042 million before changes in working capital [4][31] - The company achieved a third quarter free cash flow of $659 million and adjusted free cash flow of $589 million [3][31] Production and Operational Highlights - Total production in the third quarter reached 207,000 net barrels of oil per day (bopd) and 421,000 net barrels of oil equivalent per day (boed), exceeding guidance of approximately 200,000 net bopd [3][10] - U.S. production averaged 379,000 net boed, with oil production averaging 198,000 net bopd, a significant increase from the previous quarter [7][31] - The company raised its full-year 2024 production guidance to 192,000 net bopd and 393,000 net boed from prior midpoints of 190,000 net bopd and 390,000 net boed [3][10] Capital Management - The third quarter return of capital to shareholders included a base dividend of $61 million [5] - Marathon Oil reduced its gross debt by $545 million during the third quarter, while cash and cash equivalents increased by $57 million to a total of $134 million [6][31] - Capital expenditures for the third quarter totaled $458 million, with no change to the original capital spending guidance range [4][10] International Operations - Equatorial Guinea (E.G.) production averaged 42,000 net boed, with total sales volumes averaging 37,000 net boed [8][9] - The company realized a price of $10.76 per thousand cubic feet (mcf) for Alba LNG sales during the third quarter, benefiting from a shift to global LNG pricing [8][36] Segment Income - Total international segment income was $95 million during the third quarter, including $39 million from equity method investees [9][31] - The U.S. segment income was reported at $362 million, while the international segment contributed $95 million [31]

Core Viewpoint - Marathon Oil Corporation has declared a dividend of 11 cents per share, payable on December 10, 2024, to stockholders of record on November 15, 2024 [1] Company Overview - Marathon Oil Corporation (NYSE: MRO) is an independent oil and gas exploration and production company focused on competitive resource plays in the U.S., including Eagle Ford, Bakken, STACK, SCOOP, and Permian [2] - The company also has a significant integrated gas business in Equatorial Guinea [2] Strategic Framework - The company's success framework is based on a strong balance sheet, ESG excellence, and competitive advantages from a high-quality multi-basin portfolio [3] - On May 28, 2024, Marathon Oil entered a merger agreement with ConocoPhillips, expected to close in late Q4 2024 [3]

Marathon Oil (MRO) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The earnings report, which is expected to be released on November 6, 2024, might help the stock move higher if these key numbers are better tha ...

HOUSTON, Oct. 23, 2024 /PRNewswire/ -- Marathon Oil Corporation (NYSE: MRO) announced today it plans to issue its third quarter 2024 earnings release on Wednesday, Nov. 6, after the close of U.S. financial markets.Due to the pending merger with ConocoPhillips, Marathon Oil will not conduct a third quarter earnings conference call or webcast.About Marathon Oil Marathon Oil (NYSE: MRO) is an independent oil and gas exploration and production (E&P) company focused on four of the most competitive resource plays ...

ROCKFORD, Ill., Sept. 18, 2024 (GLOBE NEWSWIRE) -- This week, Woodward, Inc. (NASDAQ: WWD), a global leader in energy control solutions for aerospace and industrial markets, celebrated the completion of its aerospace Maintenance, Repair and Overhaul (MRO) facility in Loves Park, Illinois. Customers and state and local officials, including State Rep. Joe Sosnowski, Loves Park Mayor Greg Jury and Winnebago County Board Chairman Joseph Chiarelli, joined Woodward leaders and members to commemorate completion of ...

Marathon Oil (MRO) ended the recent trading session at $25.98, demonstrating a +0.35% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 0.75%. Elsewhere, the Dow gained 0.58%, while the tech-heavy Nasdaq added 1%.The energy company's stock has dropped by 6.37% in the past month, falling short of the Oils-Energy sector's loss of 4.12% and the S&P 500's gain of 4.03%.Market participants will be closely following the financial results of Marathon Oil i ...

Thomas Barwick I published my ‘Strong Buy’ thesis for Emerson (NYSE:EMR) in May 2024, indicating the company’s transition into a stronger growth industrial technology company with a focus on software, control, sustainability, decarbonization and energy transitions. The company released its Q3 result on August 7, showing only 3% organic revenue and order growth. The stock price took a hit after the earnings due to the weakness in maintenance, repair, and operations ("MRO") and discrete automation orders. ...

Marathon Oil Corporation (MRO) reported second-quarter 2024 adjusted net income per share of 63 cents, missing the Zacks Consensus Estimate of 67 cents. The underperformance reflects higher costs and tepid production numbers.However, the company’s bottom line rose from the year-ago adjusted profit of 48 cents due to higher commodity price realizations.The company reported revenues of $1.7 billion, which came $15 million above the consensus mark and rose 12.8% from the year-ago sales.Investors should know th ...

Marathon Oil (MRO) shareholder Martin Siegel has filed a lawsuit to stall the proposed acquisition of the company by ConocoPhillips (COP) , one of the largest exploration and production companies globally. The investor argued that the proposed acquisition deal significantly undervalues Marathon.The acquisition was announced in May 2024, with ConocoPhillips agreeing to buy Marathon for approximately $22.5 billion. The price includes $5.4 billion of net debt. Siegel stated that the shareholders of Marathon co ...