Marathon Oil(US:MRO)2022-11-03 17:23Financial Performance & Return of Capital - Marathon Oil returned 82% of adjusted CFO to shareholders in 3Q22[3,6] - Record shareholder distributions of $1.2 billion were achieved in 3Q22[4,6] - The company has reduced its outstanding share count by 20% since October 2021[4,6,11] - $3.4 billion of share repurchases have been executed since October 2021[6,11] - The quarterly base dividend was raised by 13% to $0.09/share[6,15] Operational Highlights & Outlook - 3Q22 adjusted net income was $832 million, or $1.24/share[6] - Adjusted FCF was $1.031 billion with a 29% reinvestment rate in 3Q22[6] - Oil and oil-equivalent production increased sequentially to 176 MBOPD and 352 MBOED respectively[6] - The company is raising 2022 E.G equity income guidance to $610 million[6,18,54] - 2022 capital spending is being raised to $1.4 billion due to incremental inflation and targeted efforts to protect operational momentum into 2023[6,18,52]