Marathon Oil Q1 2024: Adj. EPS $0.55; returned $349M to shareholders; sanctioned EG drilling program

MARATHON OIL CORP

2024-Q1 EPS reported $0.52 revenue$1,551,000,000

Net income $297M ($0.52 diluted EPS); adjusted net income $317M ($0.55 diluted EPS).
Net operating cash flow $757M; adjusted CFO $861M; free cash flow $271M; returned $349M (41% of adjusted CFO) to shareholders.
Sanctioned two Alba infill wells in Equatorial Guinea; first gas expected H2 2025; capex ~$100M in 2025.
Brought online 12 three-mile lateral wells; first Permian three-mile pad avg 5,265 boed per well 30-day IP; per-ft cost >20% below 2-mile wells.
FY2024 guidance unchanged: capex $2B, production 190K bopd/390K boed, adj FCF ~$2.2B at $80 WTI.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MARATHON OIL CORP reported the quarter ended March 31, 2024 results: net income $297 million or $0.52 per diluted share.

Period: the quarter ended March 31, 2024
Net income: $297 million or $0.52 per diluted share
Result: reported results

Exact text from the filing

On May 1, 2024 , Marathon Oil Corporation issued a press release announcing results for the quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0000101778-24-000094

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