U.S. Resource Play
Focused E&P

This is Marathon Oil

MRO Reports 1Q 2020 Results

Prioritizing Financial Strength and Flexibility

May 6, 2020

Marathon Oil Corporation (NYSE: MRO) today reported a first quarter 2020 net loss of $(46) million, or $(0.06) per diluted share, which includes the impact of certain items not typically...

May 1, 2020

Marathon Oil Corporation (NYSE: MRO) announced today that effective May 4, 2020, Mike Henderson will be promoted to senior vice president, operations, and will oversee the U.S. Resource Play...

Apr 29, 2020

Marathon Oil Corporation (NYSE:MRO) announced today that its Board of Directors approved changing its 2020 Annual Meeting of Stockholders to a virtual-only, audio-only meeting. The previously...

Apr 16, 2020

Marathon Oil Corporation (NYSE: MRO) announced today it plans to issue its first quarter 2020 earnings news release on Wednesday, May 6, after the close of U.S. financial markets. The company will...

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$MRO Performance

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Focused Returns

Framework for Success

FOCUSED RETURNS

Building On Another Successful Year

2019 was another year of differentiated execution as we comprehensively delivered on our framework for success for the second year in a row. We continue to improve our underlying corporate returns, we've delivered positive organic free cash flow for eight consecutive quarters, and we've returned over 20% of our cash flow from operations back to our shareholders since the beginning of 2018.

We improved our capital efficiency in 2019 through meaningful reductions in both completed well cost and unit production expense, and further optimized and simplified our portfolio. We also enhanced our resource base through success across all elements of our comprehensive resource capture framework, adding over three years of inventory through organic enhancement, Resource Play Exploration, and bolt-on acquisitions and trades.

Looking To The future

Looking ahead to 2020 and beyond, our focus on differentiated execution will remain unchanged. We'll continue to be guided by our unwavering commitment to capital discipline and sustainability.

Committed to our Framework

Corporate Returns
Portfolio transformation and focused capital allocation drive multi-year corporate returns improvement through capital efficient growth
Free Cash Flow
Sustainable free cash flow at conservative pricing
Return of Capital
Return of incremental capital to shareholders in addition to peer competitive dividend; funded through free cash flow; not dispositions
Differentiated Execution
Continuous improvement in capital efficiency and operating costs while enhancing our resource base; delivering on our commitments

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Multi-Basin Portfolio
Capital allocation flexibility, broad market access, supplier diversification, rapid sharing of best practices, platform for talent development
Balance Sheet Strength
Financial flexibility to execute businesss plan across broad range of pricing; current net debt/EBITDAX among lowest in peer group

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Guy Baber
VP, Investor Relations

1.866.984.7755

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Stephanie Gentry
Communications Mgr.

1.713.296.3307

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