News Releases

HOUSTON, Feb. 1, 2012 - Marathon Oil Corporation (NYSE:MRO) today reported fourth quarter 2011 net income of $549 million, or $0.78 per diluted share. Net income in the fourth quarter of 2010 was $706 million, or $0.99 per diluted share, but included income from the Refining, Marketing and Transportation business, which was spun off June 30, 2011 and is now reported as discontinued operations. As a result, income from continuing operations is best suited for comparison. For the fourth quarter of 2011, adjusted income from continuing operations was $552 million, or $0.78 per diluted share, compared to adjusted income from continuing operations of $494 million, or $0.70 per diluted share, for the fourth quarter 2010.

Marathon reported full-year 2011 net income of $2.946 billion, or $4.13 per diluted share. Net income in 2010 was $2.568 billion, or $3.61 per diluted share. For the full-year 2011, adjusted income from continuing operations was $2.293 billion, or $3.21 per diluted share, compared to adjusted income from continuing operations of $1.891 billion, or $2.66 per diluted share, for full-year 2010.