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Cautionary Note to U.S. Investors - The information contained in this website is provided solely for convenience. The documents contained herein are historical in nature. Therefore, events following the date of publication or subsequently available information may have rendered obsolete the estimates, assertions or other information contained in these documents. All information is provided without warranty of any kind. Marathon Oil assumes no duty to update the information contained in any of the documents and further assumes no responsibility for the accuracy of the information. Marathon Oil further reserves the right to change the content of the site at any time without notice.

Any person who uses, or makes decisions upon, information contained in this website does so at their own risk and agrees to hold Marathon Oil Corporation and its subsidiaries and affiliates harmless. Marathon Oil Corporation and its employees and representatives further expressly disclaim all liability for any costs, expenses, damages or consequences of any type that may result from reliance on the information obtained from this website or any website linked hereto.

The United States Securities and Exchange Commission (the "SEC") permits oil and gas companies, in their filings with the SEC, to disclose only proved probable and possible reserves. From time to time, we may use certain terms on this website or the documents contained herein, such as net unrisked mean resource potential, net unrisked resource potential, net resource, 2P resource, 2P net resource, net 2P resource, gross unrisked potential resource, gross resources, gross discovered resources, gross resource potential, gross block resource potential, resources, resource potential, potential resource, and other similar terms or variations of the foregoing terms. The SEC guidelines strictly prohibit us from including these terms in filings with the SEC. U.S. Investors are urged to consider closely the disclosures in our Forms 10-K, 10-Qs and 8-Ks, Commission File No. 1-5153, available from us at Marathon Oil Corporation, Attn. Investor Relations, 5555 San Felipe Street, Houston, TX 77056-2723. Our Form 10-K and other filings with the SEC can also be electronically accessed from our website or the SEC's website at http://www.sec.gov/.

Marathon Oil Closes Acquisition of Northern Delaware Acreage and Sale of Canadian Business

Jun 1, 2017

HOUSTON, June 01, 2017 (GLOBE NEWSWIRE) -- Marathon Oil Corporation (NYSE: MRO) announced today it has closed the acquisition of approximately 21,000 net surface acres in the Northern Delaware basin of New Mexico from Black Mountain Oil & Gas and other private sellers for $700 million, excluding closing adjustments. The effective date of this transaction is March 1, 2017. Combined with the acquisition from BC Operating, which closed May 1, Marathon Oil's total position in the Permian Basin is 91,000 net surface acres.

On May 31, the Company closed on the sale of its Canadian subsidiary to Shell and Canadian Natural Resources Limited for a total transaction value of $2.5 billion in cash, excluding closing adjustments. Marathon Oil received proceeds of approximately $1.75 billion, with the remaining proceeds to be paid in first quarter 2018. The effective date of the transaction is Jan. 1, 2017. The Canadian sale includes the Company's 20 percent non-operated interest in the Athabasca Oil Sands Project (AOSP).

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This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, including statements regarding the payment of the remaining proceeds, are forward-looking statements. While the Company believes its assumptions concerning future events are reasonable, certain factors could cause actual results to differ from those projected. Except as required by law, the Company undertakes no obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise.

Media Relations Contact
Lee Warren: 713-296-4103

Investor Relations Contact
Zach Dailey: 713-296-4140