Marathon Oil Corporation

NYSE:MRO   3:59:59 PM EDT
26.89
+0.12 (+0.45%)
5:01:15 PM EDT: $26.99 +0.10 (+0.37%)
Share Repurchases, Other Pre-Announcement

Marathon Oil Reports Q1 Adj EPS $1.02

Published: 05/04/2022 20:48 GMT
Marathon Oil Corporation (MRO) - Marathon Oil Reports First Quarter 2022 Results.
Q1 Adjusted Earnings per Share $1.02.
First Quarter Oil-equivalent Production of 345,000 Net Boed; Oil Production of 168,000 Net Bopd.
U.S. Production Averaged 281,000 Net Barrels of Oil Equivalent per Day (boed) for First Quarter 2022.
Qtrly EPS $1.78.
U.S. Unit Production Costs Averaged $5.59 per Boe During First Quarter.
Raising 2022 Equatorial Guinea Equity Income Guidance by $200 Million.
Qtrly Total Revenues and Other Income $1,753 Million Versus $1,071 Million.
Marathon Oil -updated 2022 Capital Budget Incorporates 8% Inflation Adjustment to Reflect Sustained $100/bbl Wti & $6/mmbtu Commodity Price Environment.
Marathon Oil -raised Quarterly Base Dividend by Approximately 15%.company's Board of Directors Approved an Increase in Total Share Repurchase Authorization to $2.5 Billion, As of May 4th.
Expect Over $4.5 Billion of 2022 Adjusted Free Cash Flow at a Reinvestment Rate of About 20% on a $1.3 Billion Capital Budget.
Marathon Oil -equatorial Guinea Production Averaged 64,000 Net Boed for First Quarter 2022.company is Also Raising Its 2022 Eg Equity Income Guidance by $200 Million, to a New Range of $480 Million to $520 Million.
Marathon Oil -2022 Production Guidance Remains Unchanged.
Q1 Earnings per Share View $0.92, Revenue View $1.71 Billion -- Refinitiv Ibes Data (analyst estimates).