$MRO Marathon Oil (NYSE:MRO) +1.5% after-hours as
Post# of 99225
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Posted On: 02/14/2018 8:22:16 PM
$MRO Marathon Oil (NYSE:MRO) +1.5% after-hours as it reports better than expected Q4 earnings and a 23% Y/Y revenue increase to $1.38B, also more than anticipated.
MRO plans a 2018 capital budget of $2.3B, up slightly vs. $2.2B in 2017, with ~60% to be spent in the Bakken shale and Eagle Ford shale and the remainder in the Permian Basin and in Oklahoma; the company says the budget should maintain breakeven at $50/bbl oil.
Q4 production rose 4% Q/Q to 383K boe/day, with U.S. resource play production climbing 10% Q/Q to average 249K net boe/day.
MRO forecasts total 2018 production available for sale will average 390K-410K net boe/day, up 12% Y/Y at the midpoint; annual oil output available for sale is seen increasing 18% at the midpoint, driven by 20%-25% oil growth in the U.S. resource plays.
MRO expects Q1 U.S. production will average 265K-275K net boe/day, while international output, excluding Libya, averages 105K-115K net boe/day.
MRO plans a 2018 capital budget of $2.3B, up slightly vs. $2.2B in 2017, with ~60% to be spent in the Bakken shale and Eagle Ford shale and the remainder in the Permian Basin and in Oklahoma; the company says the budget should maintain breakeven at $50/bbl oil.
Q4 production rose 4% Q/Q to 383K boe/day, with U.S. resource play production climbing 10% Q/Q to average 249K net boe/day.
MRO forecasts total 2018 production available for sale will average 390K-410K net boe/day, up 12% Y/Y at the midpoint; annual oil output available for sale is seen increasing 18% at the midpoint, driven by 20%-25% oil growth in the U.S. resource plays.
MRO expects Q1 U.S. production will average 265K-275K net boe/day, while international output, excluding Libya, averages 105K-115K net boe/day.
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