Last $38.61 USD
Change Today -0.14 / -0.36%
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marathon oil corp (MRO) Snapshot

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07/24/14 - $40.74
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02/6/14 - $31.57
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marathon oil corp (MRO) Details

Marathon Oil Corporation operates as an energy company worldwide. The company’s North America Exploration and Production segment explores for, produces, and markets liquid hydrocarbons and natural gas in North America. Its International Exploration and Production segment explores for, produces, and markets liquid hydrocarbons and natural gas in Angola, Equatorial Guinea, Ethiopia, Gabon, Kenya, the Kurdistan Region of Iraq, Libya, Norway, and the United Kingdom; and produces and markets products manufactured from natural gas, such as liquefied natural gas and methanol in Equatorial Guinea. Its Oil Sands Mining segment mines, extracts, and transports bitumen from oil sands deposits in Alberta, Canada; and upgrades the bitumen to produce and market synthetic crude oil and vacuum gas oil. As of December 31, 2013, it had rights to participate in developed and undeveloped leases totaling approximately 32,000 net acres. The company was formerly known as USX Corporation and changed its name to Marathon Oil Corporation in July 2001. Marathon Oil Corporation was founded in 1887 and is headquartered in Houston, Texas.

3,359 Employees
Last Reported Date: 02/28/14
Founded in 1887

marathon oil corp (MRO) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $4.3M
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $947.3K
Executive Vice President, General Counsel and...
Total Annual Compensation: $1.3M
Vice President of North America Production Op...
Total Annual Compensation: $918.2K
Vice President of International & Offshore Ex...
Total Annual Compensation: $766.9K
Compensation as of Fiscal Year 2013.

marathon oil corp (MRO) Key Developments

Marathon Oil Corporation Announces 11% Increase in Quarterly Dividend Payable on Sept. 10, 2014

Marathon Oil Corporation announced that the Company's board of directors has approved an 11% increase in the quarterly dividend payable on Marathon Oil Corporation common stock, resulting in a new quarterly dividend rate of 21 cents per share. The dividend is payable on Sept. 10, 2014 to stockholders of record on Aug. 20, 2014.

Investors to Collect in Marathon Case $467,709 Award Filed Against Marathon Ashland Petroleum LLC, Speedway Superamerica LLC and Marathon Oil Co. Tied to Gas Stations Reduced to Blight

Nearly two years after a jury ruled in their favor, a group of investors entangled in a lawsuit with Marathon Oil over damaged properties can collect nearly half a million dollars. Bitler Investment Venture LLC, Melching Investment Venture LLC, and Two Portland Properties LLC sued Marathon Ashland Petroleum LLC, Speedway Superamerica LLC and Marathon Oil Co. in December 2004. In their 28-count lawsuit, the plaintiffs claimed that properties they leased to the defendants as commercial gas stations in a number of Michigan and Indiana locations including Angola, Huntington, Ligonier and North Manchester, among others were damaged and left in deplorable conditions by Marathon. After years of bickering back and forth between one another in motions and requests for summary judgment more than 304 entries were filed in the case docket - six properties remained by November, with 22 having been dismissed in favor of Marathon. Those properties in Angola and North Manchester in Indiana, and in Coldwater, Battle Creek, Portland and Owosso in Michigan were the subject of a six-day jury trial in November 2012. At issue was whether the defendants damaged the properties by committing waste and whether the company needed to pay damages to the investors. The U.S. District Court jury in Fort Wayne found that Marathon had damaged the properties, and it awarded $274,000 in damages in amounts ranging from $13,200 for the Coldwater, Michigan, property to $75,800 to the North Manchester property. The jury also found that the investors were not entitled to punitive damages concerning the Angola and North Manchester properties, according to court documents. Even though the investors won their lawsuit, the awarding of the judgment was on hold while the U.S. Court of Appeals reviewed the matter and a modification to the damage award for the sites in Michigan. With those adjustments, the amount of money now owed to the investors is $467,709.08, not including interest. Late last week, the court entered a final judgment order in the case, according to court records.

Marathon Oil Corporation Announces Resignation of Linda Z. Cook, Member of Board of Director, Effective July 4, 2014

Effective July 4, 2014, Linda Z. Cook will resign as a member of the Board of Directors of Marathon Oil Corporation. The resignation of Ms. Cook from the Board is not due to any disagreement with company on any matter relating to its operations, policies or practices.


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