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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