Employees and contractors at our Brae platform add profitable production from the North Sea. Other core regions include the U.S., Canada and Equatorial Guinea.
Africa
Asia
Europe
Marathon assets, such as those in the Bakken and Eagle Ford plays, are indicative of our steady growth and the exciting opportunities that are yet to come.
At Marathon, we realize the importance of being transparent and regularly sharing company and industry information with our customers, employees and stakeholders.
Pablo Ondo Zetmayer, a gas plant operator in Equatorial Guinea, is a prime example of Marathon’s globally diverse workforce, which enjoys worldwide experiences and world-class opportunities.
With a focus on safety, innovation and environmental stewardship, Marathon is among the world’s leading independent exploration and production companies.
Audit and Finance Committee
All the members of the Audit and Finance Committee (formerly known as the "Audit Committee") are independent (as independence is defined in Exchange Act Rule 10A-3, as well as the general independence requirements of NYSE Rule 303A.02).
Audit and Finance Committee Charter
The Audit and Finance Committee has a written charter adopted by the Board of Directors. The Audit and Finance Committee Charter, as amended and restated effective October 28, 2009, is set forth below. The charter requires the committee to reassess and report to the Board on the adequacy of the charter on an annual basis, which the committee did in 2010.
Audit and Finance Committee Charter (24 KB)
Audit and Finance Committee Policy For Pre-Approval of Audit, Audit-Related, Tax and Permissible Non-Audit Services
This policy is set forth below. Among other things, this policy sets forth the procedure for the committee to pre-approve all audit, audit-related, tax and permissible non-audit services, other than as provided under the de minimus exception. Notwithstanding the de minimus exception, it is the intent of the committee that standard practice will be to pre-approve all permissible non-audit services. The committee delegated pre-approval authority of up to $500,000 to the Audit and Finance Committee Chair for unbudgeted items.
Audit Committee Financial Expert
Based on the attributes, education and experience requirements set forth in Section 407 of the Sarbanes-Oxley Act of 2002 and associated regulations, the Board of Directors determined that Michael E. J. Phelps and Dennis H. Reilley each qualify as an "Audit Committee Financial Expert."
Guidelines for Hiring of Employees or Former Employees of the Independent Auditor
These guidelines provide that the Company shall not hire any employee or former employee of its independent auditor for a position in a financial reporting oversight role if such employee or former employee was the lead or concurring partner, or any other member of the audit engagement team who provides more than ten hours of audit, review or attest services during the one-year period preceding the date of the initiation of the audit. A complete set of these guidelines is set forth below.
Guidelines for Hiring of Employees or Former Employees of Independent Auditor (10 KB)
Policy for Whistleblowing Procedures
This policy establishes procedures for the receipt, retention and treatment of complaints received by the Company regarding accounting, internal accounting controls, or auditing matters, and the confidential, anonymous submission by employees of the Company of concerns regarding questionable accounting or auditing matters. The policy is set forth below.
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Marathon’s commitment to the community is deeply rooted in our core values. Our employee-run Books for Bioko program collects supplies for schools in Equatorial Guinea.
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