This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Marathon Oil Corporation Reports Fourth Quarter And Full-Year 2012 Results

E&P sales volumes per day (excluding Libya) during the fourth quarter of 2012 averaged 423,000 net boed, up 6 percent compared to 399,000 net boed for the third quarter. For full-year 2012, sales volumes (excluding Libya) averaged 388,000 net boed, an 8 percent increase from the 2011 average of 358,000 boed. The increases in the quarter and for the full year were largely the result of ramped up production in the Company's U.S. resource plays, particularly the Eagle Ford and Bakken shale plays.

E&P production available for sale for the fourth quarter of 2012 averaged 420,000 net boed (excluding Libya), which was 7 percent higher than the third quarter 2012 average of 392,000 net boed. For full-year 2012, E&P production available for sale (excluding Libya) increased 8 percent over 2011 volumes, with 2012 available for sale volumes averaging 386,000 net boed compared to 357,000 net boed for full-year 2011.

The difference between production volumes available for sale and recorded sales volumes was primarily due to the timing of international liftings.

Production operations in Libya were suspended in the first quarter of 2011 and resumed with limited production in the fourth quarter of 2011. During the fourth quarter of 2012, net production available for sale averaged 42,000 boed, compared to 74,000 boed in the third quarter, and net sales averaged 64,000 boed compared to 53,000 boed in the third quarter. Production available for sale was higher in the third quarter compared to the fourth quarter because of a natural gas sales agreement executed in the third quarter. Fourth quarter sales were higher than third quarter sales because of the lifting of the majority of the previous liquid hydrocarbon underlift.

Marathon Oil estimates first quarter 2013 E&P production available for sale will be between 415,000 and 430,000 net boed, which includes one month of Alaska production but excludes Libya. Full-year 2013 E&P production available for sale is projected to be between 395,000 and 420,000 net boed, reflecting the sale of the Alaska business on Jan. 31, 2013 as well as planned turnarounds in Norway, Equatorial Guinea and the U.K. during the year. This guidance excludes the effect of acquisitions or dispositions not previously announced.

6 of 14

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.24 -0.41%
FB $117.81 -0.21%
GOOG $701.43 0.82%
TSLA $211.53 -4.96%
YHOO $36.94 2.61%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs