About the Company
Marathon Oil Corporation, or simply Marathon Oil, is an American independent exploration and production company that is primarily involved in crude petroleum and natural gas businesses. Headquartered in Houston, Texas, Marathon Oil Corporation is enlisted in the US Security and Exchange Commission and is headquartered in Houston, Texas. The company started trading its shares on the New York Stock Exchange (NYSE) on January 02, 1970, under the ticker symbol of ‘’MRO’’. The all-time high Marathon Petroleum stock closing price was $86.39 on October 3, 2018. MRO shares are also a component of the S&P 500 list. As of 2020, the company manages its operations with approximately 2000 employees.
The company’s operations are divided into two segments, namely the United States (US) and the International. The operations of US segments revolve around oil and gas exploration, and development and production in the US. On the other hand, the International segment is involved in oil and gas development, and production in Equatorial Guinea. The business activities of Marathon Oil Corporation are concentrated on the four oil-enriched resource-plays i.e basins in the US. These include the Eagle Ford in Texas, the Bakken in North Dakota, the Stack and Scoop in Oklahoma and the Permian in New Mexico.
Focusing on oil production, Marathon Oil Corporation started its journey as the Ohio Oil Company in 1887. Throughout its existence, the company’s operations came under several ownerships and brand names. After 90 years of collaboration with the Ohio Oil Company, Marathon Oil Corporation started as an independent E&P Company in 2011. The present-day name of Marathon Oil Corporation came into effect in 1962. Started as an oil production company, Marathon Oil Corporation continued to grow and expand its business. Marathon Oil Corporation has nearly acquired more than 8 companies, and 1 of the acquisitions occurred in the previous 5 years. Marathon Oil Corporation witnessed its largest acquisition in 2007 when it acquired Marathon Oil Canada for $6.2 billion. In the year 2019, the company revealed its largest sale as Marathon Oil Corporation sold Marathon Oil-U.K. Business to RockRose Energy for $140 million.
Apart from its business to provide fuel, Marathon Oil Corporation is also associated with various environmental and cultural activities. To mitigate Malaria outbreak, Marathon Oil Corporation, together with its partners Noble Energy and AMPCO, initiated the Bioko Island Malaria Control Project (BIMCP) in Equatorial Guinea. Marathon Oil Corporation also is associated with the Pecos Watershed Conservation Initiative.
The year 2020 was particularly significant for Marathon Oil Corporation as it bagged several awards and praises. The company ranked on Forbes’ lists in a total of five categories. Marathon Oil Corporation sealed the 173rd position in the World’s Best Employers 2020 segment. In 2020, the company also ranked 534th in the Fortune 500 list.;
|Organisation||Marathon Oil Corporation|
|Industry||Oil & Gas E&P|