Marathon Oil Corporation

Latest Marathon Oil Corporation News

• Combined 3,391 bopd and 1.227 mmcf gross initial production rates from four wells in the Bakken / Three Forks Sanish Formations in North Dakota and the Hunton Formation in Oklahoma.
• Now participating in 74 producing wells with operators including Marathon Oil ('Marathon') and Chesapeake Energy.

• Closing is expected to occur in the third quarter of 2012.

• For the first quarter of 2012, adjusted net income was $478 million, or $0.67 per diluted share, compared to adjusted net income of $552 million, or $0.78 per diluted share, for the fourth quarter of 2011.

• EOG Resources Inc.'s Jake well produced 50,000 bbl in its first 90 days.
• Noble Energy's Gemini well had an Initial Production of 1,110 BOEPD, and had a 100,000 BOE for its first four months online.
• Anadarko's Dolph well had an Initial Production greater than 1,500 BOEPD.

• he companies expect to close the transaction, subject to completion of the necessary Government and regulatory approvals, by this fall.

• Marathon Oil's Exploration and Production and Oil Sands Mining segments are projected to deliver a combined 5 - 7 percent compound annual growth rate (CAGR) on production from 2010 to 2016.

• Marathon Oil Corporation reported fourth quarter 2011 net income of $549 million, or $0.78 per diluted share.

• Marathon Petroleum Corporation announce that the board of directors has authorized a share repurchase plan of up to $2 billion of the company's shares of common stock over a two-year period.

• First Titan Corp. finalized a joint operating agreement today placing Intrepid Drilling, LLC, in charge of drilling and operating a new oil and gas well at the South Lake Charles Prospect in Calcasieu, La.
• First Titan plans to announce the project's spud date soon.

• Plans call for Intrepid to drill down 15,300 feet in the South Lake Charles Field, where two existing wells have already produced 21.3 billion cubic feet of gas and 1.7 million barrels of oil.
• First Titan is working to develop new energy solutions to compete in a booming global industry alongside Marathon Oil Corp., Exxon Mobil Corp., TOTAL S.A. and SandRidge Energy Inc.

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