The LeadersIn Maritime Law

Marathon Oil Corporation

Address:
5555 San Felipe Road
Houston, TX 77056-2723
Phone: (888) 346-5024

Marathon Oil Corporation, headquartered in Houston, Texas, is an international oil and natural gas exploration and production company with four operating segments: exploration and production, oil sands mining, integrated gas, and refining, marketing and transportation. Marathon Oil’s primary operations are located in the United States, Angola, Canada, Equatorial Guinea, Indonesia, Libya, Norway, and the United Kingdom.

U.S. operations accounted for 26 percent of Marathon Oil’s 2009 worldwide liquid hydrocarbon sales volumes, with the Gulf of Mexico continuing to be a significant area. During 2009, the company held interests in seven producing fields and four platforms in the Gulf of Mexico and operated one platform.

Marathon has interests in more than 24 prospects in the Gulf of Mexico, with more than four years of drilling opportunities. In 2008, Marathon entered into a four-year contract for the Noble Jim Day deepwater rig to drill Gulf of Mexico prospects. The rig is expected to commence drilling operations in late 2010.

Marathon Oil Corporation’s current major United States upstream project is Droshky, a major Gulf of Mexico subsea oil development 160 miles off the Louisiana coast. Marathon owns a 100 percent working interest in Droshky, which is expected to produce approximately 50 thousand net barrels of oil equivalent per day at its peak.

Marathon Oil Corp. also sells gasoline through Speedway and SuperAmerica. These retail outlets are owned and operated by Marathon Oil subsidiary SSA, headquartered in Enon, Ohio. Of Marathon Oil’s 28,855 active employees as of December 31, 2009, 18,325 were employees of SSA, employed primarily at retail marketing outlets.

The principal market on which Marathon common stock is traded is the New York Stock Exchange under the symbol “MRO”. Marathon common stock is also traded on the Chicago Stock Exchange. The company earned $53 billion in revenue and $1.5 billion in net income in 2009.

Marathon faces direct competition from companies such as BP, Chevron Corporation, ConocoPhillips, Motiva Enterprises, and Sunoco.

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