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History

Since 1887, Marathon Oil Corporation has been making energy history. The following is a timeline tracking the Company’s growth and evolution as a leader in worldwide energy innovations.

  • 1887 - 1931
  • 1943-1967
  • 1971-1986
  • 1990-Present

1887

The Ohio Oil Company is founded under the leadership of president Henry M. Ernst in northwestern Ohio-the country’s leading center for crude oil production at this time. "The Ohio" becomes the largest oil producer in the state.

History-1887

1889

John D. Rockefeller’s Standard Oil Trust purchases The Ohio.

History-1889

1905

The company moves its headquarters from Lima, Ohio, to Findlay, Ohio.

History-1905

1908

Establishing itself as a major pipeline company, The Ohio now controls one half of the field production in three states.

History-1908

1911

The Ohio resumes independent operation following the dissolution of the Standard Oil monopoly, as a result of Teddy Roosevelt’s trust busting campaign. James C. Donnell becomes president of the company.

History-1911

1912

The Ohio goes prospecting for oil in Wyoming, with its first entry into the state.

 

1915

The Ohio assigns 1,800 miles of pipeline, as well as gathering and storage facilities, to the newly acquired Illinois Pipe Line Company.

History-1915

1924

The Ohio purchases the Lincoln Oil Refining Company to better integrate and develop crude oil outlets.

History-1924

1926

The Ohio discovers the Yates Field in West Texas. The Ohio forms the Ohio-Mexico Oil Company to manage seven concessions in northern Mexico.

History-1926

1930

The Ohio purchases the Transcontinental Oil Company, acquiring the Marathon product name, the Pheidippides Greek runner trademark, and the "Best in the long run" slogan. The Ohio Oil Company’s stock is publicly traded on the New York Stock Exchange for the first time.

History-1930

1931

Drilling discoveries in Mexico result in The Ohio’s first international natural gas production.

 

1943

The Ohio dissolves the Illinois Pipe Line Company and creates its own internal pipeline department. The Ohio begins prospecting in Canada and Guatemala.

History-1943

1948

Amerada, Conoco and The Ohio Oil Company combine to form the Conorado Petroleum Corporation to identify geologically promising production sites worldwide.

 

1949

Drilling discoveries in Alberta, Canada, result in The Ohio’s first international oil production.

 

1954

The Ohio and partners lease the Swanson River Area, entering Alaska.

 

1959

The Ohio purchases the Aurora Gasoline Company, taking the company’s gasoline sales beyond the national industry average. The Ohio’s pipeline department forms Marathon Pipe Line Company. The company opens an office in the United Kingdom to handle interests in the Eastern Hemisphere.

History-1959

1961

Following the discovery of the Kenai natural gas field in 1959, The Ohio begins supplying natural gas to Anchorage, the largest city in Alaska.

History-1961

1962

In celebration of its 75th anniversary, The Ohio changes its name to Marathon Oil Company in honor of its brand-name motor fuel and launches its new logo design. Marathon Oil Company acquires Plymouth Oil Company, launching the company into the wholesale gasoline business. Marathon, Amerada Hess and Conoco form The Oasis Group and achieve world-class commercial oil discoveries in Libya’s Sirte Basin.

History-1962

1965

A pioneer in the region, Marathon discovers the McArthur River oilfield in the Cook Inlet region - fully establishing the company in the state of Alaska.

History-1965

1967

Marathon Oil Company leads the development of the world’s first ocean tankers specially designed to transport liquefied natural gas (LNG). Exports of LNG to Japan begin in 1969.

History-1967

1971

Marathon discovers the Kinsale Head natural gas field offshore Ireland. Production from two platforms begins in the late 1970s, providing Ireland with its first indigenous source of natural gas to date.

History-1971

1976

Marathon purchases international exploration and production company, Pan Ocean Oil Corporation, gaining assets in the United Kingdom, Nigeria, Norway and Indonesia.

 

1977

To meet the fuel demands of modern catalytic converter- equipped cars, Marathon Oil Company acquires a new refinery in Garyville, Louisiana, the nation’s first grassroots refinery in more than a decade.

History-1977

1982

Marathon Oil Company becomes a wholly owned subsidiary of the United States Steel Corporation.

History-1982

1983

Marathon’s Brae A platform in the South Brae Field comes onstream in the North Sea, beginning production in the United Kingdom.

History-1983

1984

Marathon Oil Company acquires the exploration and production properties of Husky Oil, a premier producer in the state of Wyoming.

History-1984

1985

The Yates Field produces its billionth barrel of oil.

History-1985

1986

As a result of large-scale restructuring, the United States Steel Corporation changes its name to USX Corporation, which includes the Marathon Group and United States Steel LLC. Marathon brings the KH Field in Indonesia’s offshore Kakap Block onstream.

History-1986



1990

Marathon establishes its headquarters in Houston, Texas.

UpdatedHistory-1990

1998

Marathon and Ashland Inc. form Marathon Ashland Petroleum LLC (MAP), a joint venture combining the companies’ refining, marketing and transportation businesses. At the end of its start-up year, MAP emerges as one of the foremost firms in the downstream sector of the American petroleum industry. Marathon also adds Canadian assets through its acquisition of Tarragon Oil & Gas Ltd.

History-1998

2001

Marathon acquires Pennaco Energy, adding a leading coal bed methane asset and expanding its natural gas resources in North America. The USX Corporation’s Board of Directors votes to separate the Marathon Group and United States Steel LLC and re-establish them as two independent companies.

History-2001

2002

Marathon Oil Corporation established as a standalone company trading on the New York Stock Exchange under the symbol MRO. Marathon acquires CMS Energy’s assets in Equatorial Guinea.

History-2002

2003

Marathon acquires Khanty Mansiysk Oil Corporation (KMOC), forming the basis for a new core area in Russia.

History-2003

2005

Marathon becomes 100 percent owner of Marathon Ashland Petroleum LLC. Marathon Ashland Petroleum LLC changes name to Marathon Petroleum Company LLC.

History-2005


2006

Marathon finalizes plans for $3.2 billion Garyville, Louisiana, refinery expansion that will increase plant’s capacity by 180,000 barrels per day. When completed in late 2009, Marathon will supply an additional 7.5 million gallons of clean transportation fuels to the market each day.

 UpdatedHistory-1990


2007

Marathon completes its acquisition of Western Oil Sands Inc. through a cash and securities transaction of approximately US$5.8 billion, plus Western's outstanding debt valued at approximately US$1.1 billion, for a total transaction value of US$6.9 billion.

 History-2007WesternOilSands

2007

Delivered first liquefied natural gas (LNG) cargo from Equatorial Guinea Train 1 LNG project.

UpdatedHistory-2007

2008

Achieved first oil on the Alvheim/Vilje development offshore Norway, and the Neptune development in the deepwater Gulf of Mexico.

 UpdatedHistory-2008

2008

Announced the sale of non-core, outside-operated interests in the Heimdal area offshore Norway; Kinsale Head, Ballycotton and Seven Heads assets in Ireland; and 50 percent ownership interest in Pilot Travel Centers.

 


2009

Announced first oil from the Volund Field offshore Norway

 

 

2009

Completed the Garyville, Louisiana, refinery expansion that increased the plant's capacity by 180,000 barrels per day.

 UpdatedHistory-1990

2009

Acquired concessions in Poland.

History-2009Poland

2010

Announced first oil from the Deepwater Gulf of Mexico Droshky development.

History-2010GOM

2010

Acquired position in the Iraqi Kurdistan Region.

History-2010IraqiKurdistanRegion


2010

Entered the Eagle Ford Shale in Texas.

History-2010EagleFord



2011

Completed a $3.5 billion investment the Eagle Ford Shale play in Texas.

History-2010EagleFord



2011

Marathon Oil Corporation becomes independent upstream company.

History-2010EagleFord



2012

Marathon Oil Corporation celebrates 125 years in the oil and gas business.

History-2010EagleFord



2012

Marathon Oil Corporation celebrates 100 years in Wyoming.

History-2010EagleFord



2012

Marathon Oil Corporation announces entry into Ethiopia and Kenya and re-entry into Gabon.

History-2010EagleFord



2012

First production from the PSVM Development offshore Angola commences.

History-2010EagleFord



2013

Marathon Oil Corporation sells Alaska business unit.

History-1961