Posts filtered on Tag
Marathon Oil CEO Lee Tillman writes that the U.S. shale revolution needs a bigger funnel for the glut of crude it has created.
The cut is the second the company has made since crude prices began falling last summer.
It joins a slew of competitors of various sizes, from Marathon Oil to Continental Resources to ConocoPhillips, who have all cut their planned 2015 capital budgets as well.
Firms like Continental Resources, Apache Corp., ConocoPhillips and Marathon Oil have all announced big cuts this winter to their planned capital expenditures.
About 75 workers were transferred to shore from the Brae Alpha and Brae Bravo platforms.
Chevron told Canada’s National Energy Board Wednesday that it would pull out of Beaufort Sea.
Marathon Oil Corp. will spend about 20 percent less looking for and producing oil next year, the company said on Thursday.
The Houston-based independent oil and gas company said Monday that the Jisik-1 exploration well discovered multiple stacked oil and natural gas producing zones at its Harir Block in the northern reaches of Iraq.
Despite falling oil prices, Marathon Oil said it remains committed to key U.S. shale plays.
Marathon Oil reported a 24 percent drop in third-quarter profit, as lower crude prices offset higher production.