- Marathon Oil (MRO) says it will increase its remaining stock buyback authorization to 2.5B, and announces a $5.9B capital spending budget for 2014, more than 60% percent of which is directed toward its liquids-rich North America resource assets.
- MRO plans to accelerating Eagle Ford and Bakken rig activity 20% each, including drilling 80-90 net new Bakken wells, and expects to double activity for the Oklahoma Woodford.
- Plans to market U.K. and Norway assets to continue its portfolio optimization strategy.
- Expects production to average 405K-430K boe/day in 2014, excluding production from Alaska and Libya.
Marathon Oil to buy back more shares, announces $5.9B capex budget
Dec 11 2013, 07:43 ET