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Marathon Oil reports a decline in the quarterly profits
Nov. 7, 2019
Source: Reuters

Marathon Oil reports a decline in the quarterly profits

US oil major, Marathon Oil Corp yesterday registered a 44.5% dip in quarterly adjusted profit, stressed by weak crude and gas prices which limited the gains from higher output in its U.S. shale basins. Marathon Oil’s total production in the quarter rose 6.5% to an average of 425,000 barrels of oil equivalent per day (boepd), excluding divestitures.

RockRose concludes acquisition of Marathon Oil’s UK business
July 2, 2019
Source: Energy Voice

RockRose concludes acquisition of Marathon Oil’s UK business

British E&P firm, RockRose Energy has concluded the acquisition of Marathon Oil’s UK business. RockRose entered into an acquisition agreement in February this year to buy out Marathon’s UK division. The acquisition has gained RockRose the ownership to 40% operated stake in the Greater Brae Area, apart from a 28% stake in BP-operated Foinaven development and its satellite fields.

RockRose acquires Marathon’s North Sea business
Feb. 26, 2019
Source: Insider

RockRose acquires Marathon’s North Sea business

UK-based RockRose Energy has entered into an agreement to acquire Marathon Oil’s North Sea business. In a deal worth £107 million, RockRose will gain ownership to Marathon’s interests in the Greater Brae, Foinaven East and Foinaven field. The acquisition is estimated to add approximately 35 million barrels of oil reserves in RockRose’s portfolio. Post-completion, Marathon’s assets and teams in North Sea will be transferred to RockRose.

HSE reprimands Marathon for lifting incident
Sept. 6, 2018
Source: Energy Voice

HSE reprimands Marathon for lifting incident

The UK Health and Safety Executive (HSE) have sent an improvement notice to Texas-based Marathon Oil following the “lifting incident” in April on the East Brae platform, offshore Aberdeen. HSE has fixed a revised compliance date for Marathon in January next year. Marathon’s spokesperson has said that they are fully engaged with HSE on the matter. The lifting incident on the platform left one injured.

Marathon Oil report Q2 profits
Aug. 2, 2018

Marathon Oil report Q2 profits

Houston-based Marathon Oil yesterday released its earnings of the second quarter. The net income of the company was $96 million in the recent quarter. CEO, Marathon Oil appreciated the efforts of Eagle Ford, Bakken, Oklahoma and Northern Delaware assets teams. He further added that the efforts of the company have enabled them to raise their annual resource play production guidance in this quarter.

Flour Corp finishes substantial engineering for Marathon Petroleum
June 21, 2018
Source: Compelo

Flour Corp finishes substantial engineering for Marathon Petroleum

Fluor Corp has reported completion of substantial engineering for Marathon Petroleum’s Tier 3 gasoline sulfur standard reconfiguration project at the Galveston Bay refinery. Fluor is offering engineering, procurement and construction management services for the Texas refinery to achieve newly-formulated U.S. Environmental Protection Agency Tier 3 gasoline sulfur norms, by 2020.

Total acquires Marathon Oil Libya Limited and owns a stake in Waha Concessions
March 5, 2018
Source: World Oil

Total acquires Marathon Oil Libya Limited and owns a stake in Waha Concessions

Marathon Oil Libya Ltd. which holds a 16.33% stake in Waha Concessions, Libya, has been acquired by French Total. With this, Total will get access to the potential area of exploration which measures 53 kilometre squares in the prolific Sirte basin. Currently, NOC (59.18%), Total (16.33%), ConocoPhillips (16.33%) and Hess (8.16%) jointly own the Waha Concessions. The Waha Oil Company, a 100% NOC owned entity, operates the asset.

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