Marathon Oil Raises 2017 Production Guidance - Quick Facts

(RTTNews) - Marathon Oil Corporation (MRO) raised its full-year 2017 production available for sale forecast from the combined U.S. and International E&P segments, excluding Libya, to a range of 345,000 to 360,000 net boed, an increase to 7 percent at the midpoint on a divestiture-adjusted basis. U.S. resource plays are expected to exit the year with both oil and BOE production 23 to 27 percent higher than fourth quarter 2016, up from the previous estimate of 20 to 25 percent growth. Marathon Oil expects its 2017 capital program to be in a range of $2.1 to $2.2 billion, down from $2.4 billion.

Second-quarter U.S. E&P production available for sale averaged 222,000 net barrels of oil equivalent per day (boed), up 9 percent from the year-ago quarter, adjusted for dispositions.

The company reported a second quarter 2017 net loss of $139 million, or $0.16 per share, which includes the impact of certain items. The adjusted net loss was $145 million, or $0.17 per share.