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Marathon Oil Corporation

5/20/2013, 3:16 AM ET

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Thursday, May 9, 11:30 AM The shale bonanza has sparked a switch in the behavior of oil firms: Companies have been selling off assets overseas and pumping money back into the U.S. Conoco (COP) has been involved in six major foreign sales in the past year totaling $11B, and much of it is being redirected into North Dakota and Texas shale. Other firms redirecting overseas assets to the U.S.: HES, DVN, APA, MRO, MUR, NBL. 3 Comments [Energy]
Wednesday, May 8, 10:16 AM Marathon Oil (MRO +0.3%) joins Talisman Energy (TLM) in quitting its Polish shale gas operations due to poor drilling results, anticipating a complete exit by H2 2014. MRO says it is evaluating disposition options for its concessions, for which it gives a book value of $12M. TLM also said today it's pulling the plug on its Polish operations. Comment! [Energy, Global & FX]
Tuesday, May 7, 7:07 PM More on Marathon Oil's (MRO) Q1 results: Earnings fell 8.2% Y/Y as $1.03B was set aside for income taxes, masking a slight rise in revenue to $4.1B. Operating margins grew to 36% from 34.5%. Oil and gas for sale excluding Libya averaged 427K boe/day, at the top end of its estimate of 415K-430K boe/day. Raises 2013 production growth target to 7%-10%. Shares -1.7% AH. 1 Comment [Energy, Earnings, On the Move]
Tuesday, May 7, 5:33 PM Marathon Oil (MRO): Q1 EPS of $0.51 misses by $0.21. Revenue of $4.11B (+1.6% Y/Y) misses by $450M. (PR) Comment! [Earnings, Energy, Breaking News]
Tuesday, May 7, 12:10 AM Notable earnings after Tuesday’s close: ANDE, ARAY, AWK, AXLL, BIO, BIOL, BMC, BWC, CA, CDXS, CHRW, CODI, DGI, DGIT, DIS, DVA, EA, ENPH, EXEL, GA, GPOR, HTA, IAG, JAZZ, KGC, LYV, MAKO, MCEP, MCK, MDLZ, MITK, MRO, MYGN, NVTL, OAS, OCLR, OHI, ONXX, ORA, PRI, RBCN, SD, SGEN, SYMC, SYNC, TRIP, TWO, URS, VCLK, WBMD, WFM, WMB, WPZ, WTI, Z 1 Comment [Earnings]
Monday, May 6, 5:35 PM Notable earnings after Tuesday’s close: ANDE, ARAY, AWK, AXLL, BIO, BIOL, BMC, BWC, CA, CDXS, CHRW, CODI, DGI, DGIT, DIS, DVA, EA, ENPH, EXEL, GTEK, GA, GPOR, IAG, JAZZ, KGC, LYV, MAKO, MCEP, MCK, MDLZ, MITK, MRO, MYGN, NVTL, OAS, OCLR, OHI, ONXX, ORA, PRI, RBCN, SD, SGEN, SYMC, SYNC, TRIP, TWO, URS, VCLK, WBMD, WFM, WMB, WPZ, WTI, Z 1 Comment [Earnings]
Thursday, April 25, 10:43 AM Cobalt Energy (CIE +1.8%), which has doubled in value since going public in 2009 but still trades at a substantial discount to the value of its underlying assets, is turning into a takeover target for energy companies attracted to its oil finds from Africa to the Gulf of Mexico, Bloomberg writes. CIE’s assets are "a needle mover" for a large international player, Guggenheim says. 1 Comment [Energy, M&A, On the Move]
Wednesday, April 3, 5:20 AM Marathon Oil (MRO) has reportedly put its 10% holdings in two Angolan offshore oil and gas fields up for sale, possibly as part of its plans to offload up to $3B worth of assets. China National Petroleum Corp and Malaysia's Petronas are considering making bids for the assets in what would be the third major energy deal in Africa in 2013. 1 Comment [Energy, M&A]
Wednesday, March 20, 11:48 AM The big Shenandoah oil deposit, potentially one of the largest discoveries ever in the Gulf of Mexico, could contain 500M-1B boe, Citi analyst Robert Morris says in backing his Buy ratings for Anadarko (APC +3%), Cobalt (CIE +7.7%) and Marathon (MRO +0.8%). The discovery could boost APC's profits by $3-$6/share, CIE's by $2.50-$5/share and MRO's by $0.75-$1.50. 9 Comments [Energy, On the Move]
Wednesday, March 20, 8:43 AM Potential bidders for today’s Gulf of Mexico oil-lease round (including BP), with 7,000 deepwater blocks up for grabs, surely are heartened by Anadarko’s "potentially giant" find that dwarfs other discoveries in the Shenandoah Basin region. The success raises hopes the Gulf will remain an important oil-producing region for years to come. Premarket: APC +3%, COP +1.7%, CIE +7.3%, MRO +1.3%. Comment! [Energy]
Tuesday, March 19, 5:19 PM Anadarko Petroleum (APC) +1.6% AH on news the Shenandoah-2 well in the deepwater Gulf of Mexico encountered more than 1,000 net feet of oil pay, in one of its largest oil discoveries in the Gulf. APC is operator of the well; partners include COP +0.3%, CIE +4.3%, MRO +0.6% AH. Comment! [Energy, On the Move]
Monday, March 4, 2:59 PM Marathon Oil (MRO) hasn’t said publicly it’s searching for a successor to current CEO Clarence Cazalot, but Bloomberg says December's surprise resignation of its no. 2 man has it joining the growing ranks of energy firms seeking new leaders, including OXY, CHK, ECA, BBG and KKR's Samson Resources. With a bidding war looming, it's a good time to be an out-of-work energy exec. Comment! [Energy]
Tuesday, February 19, 3:56 PM Marathon Oil (MRO +2.9%) shares hit a 52-week high after Oppenheimer raises its target price to $45 from $40 to reflect an improved outlook and attractive valuation. With an estimated free cash flow of $900M this year and $1.5B next year, the firm notes MRO is among a very few cash-flow-positive E&P companies; also, Eagle Ford volume should double this year, boosting MRO's production growth to 6%-8%. Comment! [Energy, Quick Ideas, On the Move]
Wednesday, February 6, 8:18 AM More on Marathon Oil's (MRO) Q4 results: Total exploration costs doubled to $238M, prompting the 41% drop in net income. Income from exploration and production fell 10% to $501M. Oil and mining income dropped 70% to $19M; integrated gas income rose 75% to $35M. Projects 2013 production from upstream businesses 6%-8% higher Y/Y. Shares -2.8% premarket. Comment! [Energy, Earnings, On the Move]
Wednesday, February 6, 7:34 AM Marathon Oil (MRO): Q4 EPS of $0.55 misses by $0.12. Revenue of $4.23B beats by $0.14B. (PR) 9 Comments [Earnings, Breaking News]
Wednesday, February 6, 12:05 AM Notable earnings before Wednesday’s open: ABMD, AINV, CMI, CMP, CVH, CVS, ELN, GAS, ICE, IVR, MPEL, MRO, MT, NUS, PLD, RL, TWX, USG, VICL, VMED Comment! [Earnings]

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