HOUSTON, June 30, 2011 – Marathon Oil Corporation (NYSE: MRO) unveiled a new corporate logo today as it prepares to become an independent upstream company with the spin-off of its downstream business expected to be effective at 11:59 p.m. EDT tonight.
The new Marathon Oil logo (see attached logo) is an abstracted tri-color energy wave that symbolizes the momentum resulting from its upstream activity as well as the drive and innovation of the Company’s employees.
The process for creating a new logo began in February with an employee survey. Results of the feedback emphasized eight key attributes of the Company: focused, energetic, innovative, nimble, socially responsible, ethical, driven and global. The logo was designed based on these key descriptors.
An animation of the Marathon Oil energy wave is available on the Company’s YouTube channel at http://www.youtube.com/marathonoilcorp.
A redesigned corporate website at a new URL, http://www.marathonoil.com, is expected to go live on July 1. The Company will also update on July 1 its branding on Twitter @MarathonOil, as well as on Linkedin, StockTwits and Flickr.
This is the third graphical logo the Company has used for corporate branding in its 124-year history. The Marathon hexagon shield, which was instituted in 1962 when the Company changed its name to Marathon, will be retained by Marathon Petroleum Corporation (NYSE: MPC) upon completion of the spin-off.
On May 25, 2011, Marathon's Board of Directors approved the spin-off of Marathon's downstream business, which will create two independent, highly focused energy companies. MPC, to be headquartered in Findlay, Ohio, is expected to be the fifth largest U.S. refiner with a top-tier downstream portfolio of strategically aligned assets concentrated mainly in the Midwest, Gulf Coast and Southeast regions of the U.S. Marathon Oil, which will remain based in Houston, will be a global exploration and production company with a strong portfolio of assets delivering defined growth leveraged to crude oil production with exploration upside. Marathon Oil Corporation currently has principal operations in the United States and Angola, Canada, Equatorial Guinea, Norway, the United Kingdom and other international locations.
This release contains forward-looking statements with respect to the completion of the spin-off of Marathon Petroleum Corporation and expectations of additional growth leveraged to crude oil production. Although we believe the expectations set forth in the forward-looking statements are reasonable, we can give no assurance those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous uncertainties and risks, including that the spin-off distribution may not be completed as anticipated or at all and that delays or other difficulties in completing the distribution may be experienced. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may differ materially from those set forth in the forward-looking statements. In accordance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, Marathon Oil Corporation has included in its Annual Report on Form 10-K for the year ended December 31, 2010, and subsequent Forms 10-Q and 8-K, cautionary language identifying other important factors, though not necessarily all such factors, that could cause future outcomes to differ materially from those set forth in the forward-looking statements.
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