petroleum . marathon oil corporation type public company traded as nyse mro s & p 500 component industry petroleum industry predecessor the ohio oil company u.s. steel founded 1887 1887 headquarters marathon oil tower houston texas key people lee m. tillman president & ceo 1 products petroleum natural gas production output 438 thousand barrels of oil equivalent 2 680 000 gj per day 1 revenue us 5.522 billion 2015 1 operating income us 3.03 billion 2015 1 net income us 2.204 billion 2015 1 total assets us 32.311 billion 2015 1 total equity us 18.553 billion 2015 1 number of employees 2 611 2015 1 website www.marathonoil.com marathon oil tower the headquarters of marathon oil marathon oil corporation is an american petroleum and natural gas exploration and production company headquartered in the marathon oil tower in houston texas . contents 1 current operations 2 history 3 see also 4 references 5 external links current operations edit as of december 31 2015 the company had 2.163 billion barrels of oil equivalent 1.323 1010 gj of estimated proved reserves of which 44 % was in the united states 32 % was in canada 12 % was in equatorial guinea and 11 % was in other countries in africa primarily libya . the company has concessions with the waha oil company in libya . libya accounts for 235 million barrels of oil equivalent 1.44 109 gj of estimated proved reserves although the company did not sell any product from these operations in 2015 since operations were interrupted by civil and political unrest . 1 in canada the company is focused on the athabasca oil sands project in which the company owns a 20 % interest . 1 the company s proved reserves consisted 40 % of petroleum 32 % synthetic crude 19 % natural gas and 9 % natural gas liquids . 1 in 2015 the company sold 438 thousand barrels of oil equivalent 2 680 000 gj per day . 1 in 2015 the company derived 13 % of its revenues from sales to irving oil and 11 % of its revenues from sales to shell oil . 1 in 2016 the company plans to spend 1.4 billion on capital expenditures of which 1.2 billion will be spent in north america including 600 million in the eagle ford and 200 million in the bakken formation . 1 the company owns 277 000 net acres in the bakken formation . 1 history edit marathon began as the ohio oil company in 1887 . in 1889 it was purchased by john d. rockefeller s standard oil . it remained a part of standard oil until standard oil was broken in 1911 . in 1930 the ohio oil company bought the transcontinental oil company and established the marathon brand name . in 1962 the company changed its name to marathon oil company . in 1982 mobil made a hostile offer to buy the company ; however the board of marathon oil rejected the offer and instead sold the company to united states steel . a legal battle ensued thereafter . 2 after the merger the headquarters was moved to houston texas in 1990 but the company s refining subsidiary maintained its headquarters in findlay . in 1984 marathon purchased the u.s. unit of husky energy for 505 million . 3 in 1998 marathon and ashland inc. contributed their refining operations to marathon ashland petroleum llc now marathon petroleum . 4 in 2001 usx the holding company that owned united states steel and marathon spun off the steel business and in 2002 usx renamed itself marathon oil corporation . 5 in 2003 marathon sold its canadian operations to husky energy . 6 in 2003 the company sold its interest in the yates oil field to kinder morgan for 225 million . 7 in late 2003 marathon oil and its partners noble energy and ampco started the bioko island malaria control project bimcp in equatorial guinea . malaria control activities included indoor residual spraying improved diagnosis and case management and capacity building to contain future outbreaks . bimcp had proven being successful in reducing malaria transmission reducing the proportion of children with malaria parasites and improving iron status . bimcp is perceived as a model of hands on corporate involvement in a humanitarian effort with government non profits and academic organizations to reduce the burden of malaria in countries located in equatorial africa . 8 the president of equatorial guinea obiang nguema is one of the world s worst dictators according to parade magazine . marathon s humanitarian efforts have mitigated some of the criticism resulting from its dealings with nguema s regime . 9 in 2011 marathon completed the corporate spin off of marathon petroleum distributing a 100 % interest to its shareholders . 10 in june 2013 marathon sold its angolan oil and gas field to sinopec for 1.52 billion . 11 in september 2013 marathon announced it would sell a 10 % stake in an oil and gas field offshore angola for around 590 million to sonangol group . 12 in june 2014 marathon oil norge as marathon norway was acquired by det norske oljeselskap asa for usd 2.1 billon . 13 see also edit houston portal companies portal energy portal marathon petroleum standard oil james c. donnell list of oil exploration and production companies references edit a b c d e f g h i j k l m n o marathon oil corporation 2015 form 10 k mobil corp. v. marathon oil co. tender offeror s right to injunctive relief recognized . pace law review . april 1983 . salpukas agis march 30 1984 . marathon will buy husky unit . new york times . breed alan g. may 16 1997 . ashland marathon announce alliance . kentucky new era . united states steel corporation form s 4 september 7 2001 husky snaps up marathon assets . globe and mail . august 21 2003 . marathon to sell interest in yates field to kinder morgan energy partners . prnewswire . october 30 2003 . bioko island malaria control project more of the world s worst dictators . parade magazine . march 22 2009 . marathon spin off gives ohio fifth largest refiner . associated press via yahoo finance . june 30 2011 . china s sinopec buys marathon s angola oil fields for 1.52 billion reuters june 23 2013 marathon oil to sell stake in angolan field for 590 million reuters september 10 2013 det norske acquires marathon oil norge as june 2 2014 external links edit marathon oil company website marathon oil our history evaluating the welfare implications of the first round of indoor residual spraying in bioko island equatorial guinea marathon ceo discusses america s energy security bic magazine september 2007 droz r.v. 2004 . standard oil today v t e petroleum industry petroleum primary energy benchmarks argus sour bonny light brent dubai indonesian isthmus 34 light japan cocktail opec reference basket tapis urals western canadian select west texas intermediate data natural gas consumption production reserves imports exports price petroleum consumption production reserves imports exports price of gasoline and diesel exploration core sampling geophysics integrated asset modelling petroleum engineering reservoir simulation seismic to simulation petroleum geology petrophysics reflection seismology seismic inversion seismic source drilling blowout completion squeeze job differential sticking directional drilling geosteering drilling engineering drilling fluid invasion drill stem test lost circulation measurement tracers underbalanced drilling well logging production petroleum fiscal regime concessions production sharing agreements artificial lift pumpjack submersible pump esp gas lift downstream enhanced oil recovery eor steam injection gas reinjection midstream petroleum product pipeline transport refining upstream water injection well intervention xt history 1967 oil embargo 1973 oil crisis 1979 energy crisis 1980s oil glut 1990 oil price shock 2000s energy crisis 2010s oil glut founders history of the petroleum industry nationalization opec seven sisters standard oil oil market timelines provinces and fields list of natural gas fields list of oil fields east midlands oil province east texas gulf of mexico niger delta north sea persian gulf prudhoe bay oil field russia venezuela western canadian sedimentary basin other topics acronyms peak oil mitigation timing people petrocurrency petrodollar recycling shale gas swing producer unconventional oil heavy crude oil sands oil shale companies and organisations major petroleum companies supermajors bp chevron conocophillips exxonmobil royal dutch shell total national oil companies adnoc uae cnooc china cnpc china ecopetrol colombia gazprom russia iraq national oil company indian oil corporation kuwait petroleum corporation lotos poland nigerian national petroleum corporation nioc iran nisoc iran ogdcl pakistan ongc india pdvsa venezuela pkn orlen poland pemex mexico pertamina indonesia petrobras brazil petrochina petronas malaysia petrovietnam ptt thailand qatar petroleum rosneft russia saudi aramco saudi arabia sinopec china socar azerbaijan sonangol angola sonatrach algeria statoil norway ypf argentina energy trading glencore gunvor mercuria naftiran intertrade trafigura vitol other anadarko apache bg group cenovus energy compa a espa ola de petr leos devon eni galp energia hess husky energy imperial oil lukoil marathon oil nippon oil occidental omv port harcourt refining company reliance industries repsol suncor energy surgutneftegas tnk bp tullow oil t pra major services companies amec foster wheeler baker hughes cameron cgg ch2m hill chicago bridge & iron company china oilfield services enbridge ensco ge oil & gas halliburton naftiran intertrade national oilwell varco petrofac saipem schlumberger snam subsea 7 technip transcanada transocean weatherford wood group other international association of oil & gas producers international energy agency international petroleum exchange opec society of petroleum engineers world petroleum council category commons retrieved from https en.wikipedia.org w index.php title marathon oil & oldid 743465753 categories marathon oilcompanies based in houstoneconomy of the western united statesautomotive companies of the united stateschemical companies of the united statesnatural gas companies of the united statesoil companies of the united statescompanies listed on the new york stock exchangecompanies established in 18871887 establishments in the united states navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version in other projects wikimedia commons languages deutschespa ol fran aisbahasa indonesiaitalianonederlandsnorsk nynorskrom n svenska edit links this page was last modified on 9 october 2016 at 19 54 . text is available under the creative commons attribution sharealike license ; 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