Marathon Oil Shows Profit Growth, Hikes Share Buybacks
08.12.2019 By Ricardo Perez - NEWS

August 12, 2019 [Houston Chronicle] – Marathon Oil reported a quarterly profit of $161 million that jumped by two-thirds from a year ago as the Houston oil company grew its production volumes and kept its spending flat.

 
Marathon also said it is increasing its share buyback program by $950 million up to $1.5 billion.
 
The Houston producer is continuing to lean heavily on its more mature oil and gas production in South Texas’ Eagle Ford shale and North Dakota’s Bakken shale while growing slowly in West Texas’ booming Permian Basin.
 
We believe our unwavering commitment to capital discipline and low enterprise break-even oil price delivers success across a wide range of commodity price environments,” said Marathon Chief Executive Lee Tillman.

The company produced 435,000 barrels of oil equivalent worldwide in the second quarter with nearly half of those volumes coming from the Eagle Ford and Bakken. Marathon’s output was just above the company’s previous guidance.

The company’s annual $2.4 billion development capital budget remains unchanged.

 
————-
 

Click Here to Access Data on 113 Marathon Petroleum Terminals With a Pro Trial
Click on the button and register to get instant access to actionable tank storage industry data

Venture Global Expands LNG Partnership with SEFE in Major German Energy Deal
07.10.2025 - NEWS
July 10, 2025 [Storage Terminals Magazine]- American liquefied natural gas producer Venture Globa... Read More
BINL to Build $15bn 500,000 BPD Refinery, Establish Free Trade Zone in Ondo
07.10.2025 - NEWS
July 10, 2025 [This Day]- Backbone Infrastructure Nigeria Limited (BINL) has concluded plans to c... Read More
Norway's Equinor Makes Gas Find in Barents Sea
07.10.2025 - NEWS
July 10, 2025 [Reuters]- Norway’s Equinor has discovered gas in the Skred prospect near the... Read More
Gunvor Plans to Halt Oil Terminal Activities at Europoort Refinery
07.10.2025 - NEWS
July 10, 2025 [Reuters]- Global commodities trading house Gunvor intends to mothball the terminal... Read More