HOUSTON, Jan. 25,
2023 /PRNewswire/ -- Marathon Oil Corporation
(NYSE: MRO) announced today that the Company's board of directors
has declared a dividend of 10 cents
per share on Marathon Oil Corporation common stock. The dividend is
payable on Mar. 10, 2023, to
stockholders of record on Feb. 15,
2023.
"This 11% base dividend increase is fully supported by the
incremental cash flow generation capacity from our recent
acquisition of the Eagle Ford assets of Ensign Natural Resources,"
said chairman, president and CEO Lee
Tillman. "This marks the seventh increase to our base
dividend in the last two years, representing a cumulative increase
of over 230% since the beginning of 2021, fully consistent with the
strength of our portfolio and our commitment to pay a competitive
and sustainable base dividend to our shareholders."
About Marathon Oil
Marathon Oil (NYSE: MRO) is an
independent oil and gas exploration and production (E&P)
company focused on four of the most competitive resource plays in
the U.S. - Eagle Ford, Texas, the
Bakken, North Dakota, the STACK
and SCOOP in Oklahoma and the
Permian in New Mexico,
complemented by a world-class integrated gas business in
Equatorial Guinea.
Our Framework for Success is founded in a strong balance sheet,
ESG excellence and the competitive advantages of our multi-basin
portfolio. For more information, please visit
www.marathonoil.com
Forward-Looking Statements
This release contains forward-looking statements. All
statements, other than statements of historical fact, including,
without limitation, statements regarding the cash flow generation
capacity of the Ensign assets and the Company's future dividend
payments, are forward-looking statements. Words such as
"anticipate," "believe," "continue," "could," "estimate," "expect,"
"forecast," "future," "guidance," "intend," "may," "outlook,"
"plan," "positioned," "project," "seek," "should," "target,"
"will," "would," or similar words may be used to identify
forward-looking statements; however, the absence of these words
does not mean that the statements are not forward-looking. While
the Company believes its assumptions concerning future events are
reasonable, a number of factors could cause actual results to
differ materially from those projected, including, but not limited
to: conditions in the oil and gas industry, including supply/demand
levels for crude oil and condensate, NGLs and natural gas and the
resulting impact on price; the risk that the Ensign assets do not
perform consistent with our expectations, including with respect to
future production or drilling inventory; changes in expected
reserve or production levels; changes in political or economic
conditions in the U.S. and Equatorial
Guinea, including changes in foreign currency exchange
rates, interest rates, inflation rates and global and domestic
market conditions; actions taken by the members of the Organization
of the Petroleum Exporting Countries and Russia affecting the production and pricing of
crude oil, and other global and domestic political, economic or
diplomatic developments; capital available for exploration and
development; risks related to the Company's hedging activities;
voluntary or involuntary curtailments, delays or cancellations of
certain drilling activities; well production timing; liabilities or
corrective actions resulting from litigation, other proceedings and
investigations or alleged violations of law or permits; drilling
and operating risks; lack of, or disruption in, access to storage
capacity, pipelines or other transportation methods; availability
of drilling rigs, materials and labor, including the costs
associated therewith; difficulty in obtaining necessary approvals
and permits; the availability, cost, terms and timing of issuance
or execution of, competition for, and challenges to, mineral
licenses and leases and governmental and other permits and
rights-of-way, and our ability to retain mineral licenses and
leases; non-performance by third parties of contractual or legal
obligations, including due to bankruptcy; unexpected events that
may impact distributions from our equity method investees; hazards
such as weather conditions, a health pandemic (including COVID-19),
acts of war or terrorist acts and the government or military
response thereto; security threats, including cybersecurity threats
and disruptions to our business and operations from breaches of our
information technology systems, or breaches of the information
technology systems, facilities and infrastructure of third parties
with which we transact business; changes in safety, health,
environmental, tax and other regulations, requirements or
initiatives, including initiatives addressing the impact of global
climate change, air emissions, or water management; impacts of the
Inflation Reduction Act of 2022; other geological, operating and
economic considerations; and the risk factors, forward-looking
statements and challenges and uncertainties described in the
Company's 2021 Annual Report on Form 10-K and other public filings
and press releases, available at https://ir.marathonoil.com/.
Except as required by law, the Company undertakes no obligation to
revise or update any forward-looking statements as a result of new
information, future events or otherwise.
Media Relations Contact:
Karina Brooks:
713-296-2191
Investor Relations Contacts:
Guy Baber: 713 296-1892
John Reid: 713 296-4380
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SOURCE Marathon Oil Corporation