Marathon Oil Corp - Company Profile

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Marathon Oil Corp: Segment Analysis

Business Description

Marathon Oil Corp (Marathon) is an independent oil and gas company focused on unconventional US resource plays with operations in Europe and Africa.

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Business Segments

Overview

Operations span across Equatorial Guinea (EG) and the UK. In EG, it holds 63% operated working interest (WI) in the Alba field as well as 80% operated WI in Block D, both are offshore; 52% interest in Alba Plant LLC, which operates an onshore LPG processing plant; 56% of EGHoldings, which operates a 3.7 mmta LNG production facility; and 45% of AMPCO, which operates a methanol plant, both are situated on Bioko Island in EG.

Performance

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Overview

Focuses on oil-rich unconventional resource plays, Eagle Ford in Texas, Northern Delaware in New Mexico, STACK and SCOOP in Oklahoma, and the Bakken in North Dakota. Operates in the South Texas Eagle Ford play with around two-thirds of acreage spread across Karnes and Atascosa Counties. In Bakken majority of the acreage is in core prospects within Mountrail, McKenzie, and Dunn Counties in North Dakota. In Oklahoma, it has net acreage with rights to the Springer, Woodford, Meramec and Osage plays in the SCOOP and STACK. Outside operated assets in the Gulf of Mexico, includes Louisiana Austin Chalk play. In FY2022, the segment’s capital expenditure stood at US$1,463 million, which increased 43.7% YoY.

Performance

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