U.S. Resource Play
Focused E&P
This is Marathon Oil
MRO Announces $500 Million Reduction to 2020 Capital Budget, Prioritizing Financial Flexibility and Dividend
In light of the dramatic fall in commodity prices, Marathon Oil (NYSE: MRO) has announced an immediate capital spending reduction of at least $500 million relative to its previously communicated 2020 capital spending budget of $2.4 billion. The revised capital spending budget of $1.9 billion or less represents an approximate 30% reduction in comparison to actual 2019 capital spending.
Additional Resources
Get to know Marathon Oil
CURRENT STOCK PRICE
$MRO Performance
Stock Feed
Focused Returns
Framework for Success
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
Powered by our Foundation
GET IN TOUCH
 |
Contact Us
We look forward to hearing from you.
Get timely alerts for MRO news releases and IR presentations.