More on Marathon Oil's Q2 results

|About: Marathon Oil Corporation (MRO)|By:, SA News Editor

Marathon Oil's (MRO) Q2 profit grew 8.4%, assisted by higher revenue and a sharp drop in marketing expenses.

Sales volume, excluding Libya, averaged 457K boe/day vs. 485K boe/day in Q2, a 5.8% drop, in part due to a planned turnaround in Equatorial Guinea and unplanned mine downtime.

Operating margin widened to 40.4% from 39%, as marketing expenses dropped 34%.

FY 2013 output guidance from North America E&P and international E&P, excluding Libya, is narrowed to 410K-425K boe/day vs. previous guidance of 405K-425K.