Marathon Oil Corp. is an American independent exploration and production (E&P) company that is primarily engaged in the exploration, production, and marketing of crude oil and natural gas. The company has a rich history that dates back to its founding in 1887. Originally known as The Ohio Oil Company, Marathon Oil has evolved over the years to become a global player in the energy industry. Marathon Oil is listed on the New York Stock Exchange (NYSE) under the ticker symbol "MRO."
The company was founded in Findlay, Ohio, in 1887, initially focusing on oil refining and marketing. It later expanded its operations to include exploration and production activities. Over time, Marathon Oil has grown through various acquisitions and divestitures, strategically shaping its portfolio to focus on key areas with significant hydrocarbon reserves.
Marathon Oil is involved in the exploration and production of crude oil and natural gas reserves in the United States and certain international locations. The company's operations span across various regions, including the Permian Basin, Eagle Ford, Bakken, and the Gulf of Mexico in the U.S., as well as Equatorial Guinea, Gabon, and Kurdistan internationally.
The company explores and produces crude oil from its extensive portfolio of assets. Crude oil is a vital energy resource used for various purposes, including transportation, electricity generation, and manufacturing. Marathon Oil plays a significant role in meeting the global demand for crude oil and contributing to the energy supply chain.
In recent years, Marathon Oil has focused on optimizing its portfolio by divesting non-core assets and directing investments towards high-value opportunities. The company has been committed to capital discipline, cost management, and operational efficiency to enhance shareholder value and achieve sustainable growth in a dynamic energy market.