Marathon Oil
Marathon Oil Corporation is an American company engaged in hydrocarbon exploration incorporated in Ohio and headquartered at 990 Town and Country Boulevard in Houston, Texas. A direct descendant of Standard Oil, it also runs international gas operations focused on Equatorial Guinea, offshore Central Africa.
Marathon Oil Tower, former company headquarters | |
| Formerly | The Ohio Oil Company (1887–1962) |
|---|---|
| Company type | Public |
| NYSE: MRO S&P 500 component | |
| Industry | Petroleum |
| Predecessor | |
| Founded | 1887 as "The Ohio Oil Company" |
| Fate | Acquired by Standard Oil in 1889; after the SO breakup of 1911 it continued as an independent company |
| Headquarters | 990 Town and Country Boulevard Houston, Texas U.S. |
Key people | Lee M. Tillman, President & CEO Dane E. Whitehead, CFO |
| Products | Fuel Natural gas |
Production output | 383 thousand barrels of oil equivalent (2,340,000 GJ) per day |
| Brands | Marathon (1930–) |
| Revenue | $3.086 billion (2020) |
| 3,951,000,000 United States dollar (2022) | |
| -$1.451 billion (2020) | |
| Total assets | $17.956 billion (2020) |
| Total equity | $10.561 billion (2020) |
Number of employees | 1,672 (2020) |
| Subsidiaries |
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| Website | marathonoil.com |
| Footnotes / references | |
The company is ranked 534th on the Fortune 500 and 1900th on the Forbes Global 2000.
As of December 31, 2020, the company had 972 million barrels of oil equivalent (5.95×109 GJ) of estimated proven reserves, of which 86% was in the United States and 14% was in Equatorial Guinea. The company's proved reserves consisted 52% of petroleum, 30% natural gas and 18% natural gas liquids. In 2020, the company sold 383 thousand barrels of oil equivalent (2,340,000 GJ) per day, of which 26% was from the Eagle Ford Group, 27% was from the Bakken formation, 17% was from Oklahoma, 7% was from the Northern Delaware Basin, 2% was from other U.S. sources, and 20% was from Equatorial Guinea.