Marathon Oil Reports First Quarter 2021 Results
Generates Significant Free Cash Flow, Reduces Gross Debt, Raises Base Dividend
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HOUSTON, May 5, 2021 /PRNewswire/ Marathon Oil Corporation (NYSE:MRO) reported first quarter 2021 net income of $97 million, or $0.12 per diluted share, which includes the impact of certain items not typically represented in analysts earnings estimates and that would otherwise affect comparability of results. The adjusted net income was $166 million, or $0.21 per diluted share. Net operating cash flow was $622 million, or $637 million before changes in working capital
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First quarter free cash flow of $443 million
First quarter capital expenditures of $184 million; committed to capital discipline with no change to $1 billion 2021 capital expenditure budget
Marathon Oil Announces Executive Compensation Changes and GHG Emissions Intensity Reduction Initiatives
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HOUSTON, Jan. 27, 2021 /PRNewswire/ Marathon Oil Corporation (NYSE: MRO) today announced an update regarding its environmental, social, and governance (ESG) performance, including significant changes to its executive compensation framework as well as new quantitative greenhouse gas (GHG) emissions reduction initiatives. The Company believes continuously improving all elements of its ESG performance is essential to successfully executing its long-term strategy of maximizing shareholder value, including the delivery of strong financial returns and sustainable free cash flow while maintaining a solid balance sheet and returning capital to shareholders.
Former Noble Energy Exec Brent Smolik Joins Marathon Oil Board
The addition of Brent Smolik, formerly president and COO of Noble Energy, increases the size of the Marathon Oil board of directors to nine, according to a company filing.
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Marathon Oil Corp. said Jan. 11 that Brent Smolik, a former executive at Noble Energy, has been elected to the company’s board of directors.
Brent Smolik
Smolik, 59, has over 35 years of experience in the oil and natural gas industry. He recently retired from his role as president and COO of Houston-based Noble Energy following its merger with Chevron Corp. in 2020.
/PRNewswire/ Marathon Oil Corporation (NYSE:MRO) announced today that Brent Smolik has been elected to the Company s board of directors, effective January.