Marathon Oil Reports Q1 Oil Production Of 172K Bopd

(RTTNews) - Marathon Oil Corp. (MRO) Tuesday provided certain preliminary first-quarter financial and operational estimates in light of uncertainty from Winter Storm Uri.

The company said its total oil production was 172,000 net barrels of oil per day, with sales of 168,000 net bopd. Total company oil-equivalent production was 345,000 net boed with sales of 341,000 net boed.

Estimated unhedged U.S. segment realizations were of approximately $55/bbl for oil, $24/bbl for NGLs, and $6.30/mcf for natural gas.

The company recorded general and administrative expense of around $90 million, including $11 million of severance expense and $13 million of corporate aircraft lease termination expense, both related to cost reduction actions during first quarter 2021.