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News Releases

MRO Prioritizes Financial Strength With $1.3 Billion Capital Budget

In response to current market conditions, Marathon Oil (NYSE: MRO) has announced an updated 2020 capital spending budget and has also provided a hedging update. The revised capital budget of $1.3 billion or less represents a cumulative budget reduction of $1.1 billion from initial 2020 capital spending guidance. 2020 capital spending is now expected to be approximately 50% below actual capital spending in 2019.
Featured Stories
Our Pledge to Work Safe
Employees

Our Pledge to Work Safe

Our top priority during this challenging time is the health and safety or our employees, contractors and our communities.

We’re proud to be a "Work Safe" company by pledging to the 10 Principles for Work Safe companies created by the Greater Houston Partnership. These principles were created to encourage essential businesses that continue operations to do so as safely as possible, to protect the health of their employees and minimize the risk of transmission of the COVID-19 virus.

Our Response to the Coronavirus Pandemic
Community

Our Response to the Coronavirus Pandemic

In addition to focusing on keeping our workforce safe, our Health, Environment and Safety teams in Texas and Oklahoma have organized donations of more than 8,000 N95 masks from our warehouses to local healthcare organizations in both states. These organizations are on the frontlines serving our communities, recipients include: OU Medical Center, Norman Regional Health Foundation, Chickasaw Nation Medical Center, and the Harris County Office of Emergency Management in Houston.

Working together to address conservation needs
Environment

Working together to address conservation needs

The National Fish and Wildlife Foundation (NFWF), the U.S.D.A.’s Natural Resources Conservation Service (NRCS), and a coalition of seven oil and gas corporations -- including MRO -- recently announced a number of early successes. Results from investments in fish and wildlife and their habitats in the Pecos River watershed, which in large part overlays the energy resource-rich Permian Basin.

Our Strategy

U.S. Resource Play Focused

Marathon Oil is an independent E&P company, based in Houston. Building on a rich history, with pride in our past achievements, our strategy is resolutely focused on U.S. unconventional resource plays. We're active in the Eagle Ford, Bakken, STACK/SCOOP and Permian.
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