01 aug: Federal Reserve's FOMC Meeting Resumes Wednesday Morning
01 aug: PRECIOUS METALS HIGHLIGHTS: Top Stories Of The Day
01-08-2012 15:25:00

Marathon Oil 2nd Quarter Net Falls 61% Amid Low Crude Prices

Relateret indhold

By Melodie Warner

Marathon Oil Corp.'s (MRO) second-quarter earnings fell 61% as lower prices for crude and natural gas liquids hurt its exploration and production earnings.

Last year, Marathon Oil spun off its downstream and petroleum assets--creating Marathon Petroleum Corp. (MPC)--as it looks to focus its drilling efforts on unconventional U.S. oil shales, like the Bakken in North Dakota, Anadarko Woodford in Oklahoma and Eagle Ford in Texas.

The company said Wednesday it will reduce its rig count in the Bakken and Anadarko Woodford plays for the remainder of 2012, and perhaps into 2013, due to lower commodity prices, especially in the inland U.S. crude and natural gas liquids markets.

Marathon Oil reported a profit of $393 million, or 56 cents a share, down from $996 million, or $1.39, a year earlier. Excluding items such as gains or losses on asset sales and impairments, adjusted earnings fell to 59 cents from 96 cents. Revenue fell 2.1% to $3.78 billion.

Analysts polled by Thomson Reuters had most recently forecast earnings of 59 cents on revenue of $3.35 billion.

Gross margin rose to 39% from 24%.

Exploration and production earnings dropped 44% from a year earlier.

On Tuesday, Marathon Petroleum reported its second-quarter profit edged up 1.5% in its first full year as a standalone entity, as the refining and pipeline company booked profit gains in its Speedway and refining and marketing segments.

Shares closed Tuesday at $26.47 and were inactive premarket. The stock has fallen 14% over the past year.

Write to Melodie Warner at melodie.warner@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

August 01, 2012 09:25 ET (13:25 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Branchegruppe tror på mindre vind i Europa

23-07-2014 15:11:15
Den europæiske vindmøllebranches fællesorganisationen, EWEA, skruer i en ny rapport ned for fremtidsudsigterne for mængden af nye vindmøller i verdensdelen.I en..

Nordea i russisk offensiv - netmedie

23-07-2014 12:15:50
Selvom Ukraine-krisen, der begyndte i februar-marts har medført, at udenlandske banker har trukket sig fra det russiske lånemarked, er det ikke tilfældet for No..

Aktier/åbning: Investorer børster ja-hatten af fra start

23-07-2014 09:24:32
Trods udsigt til fald i futuremarkedet og et totalt fravær af nævneværdige nøgletal har investorerne fundet det gode humør frem onsdag morgen. Dermed stiger de ..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Pandora/JPMorgan: Kursmål hævet til 490 kr.
2
Onsdagens aktier: Bunden gik ud af GN og Pandora
3
Aktier/tendens: Let negativ start i kortene
4
Finanstilsynet hæver værdien af landbrugsjord - avis
5
Nordea i russisk offensiv - netmedie

Relaterede aktiekurser

Marathon Oil Corp 40,48 0,7% Stigning i aktiekurs
Marathon OIL Corp 59,00 0,3% Stigning i aktiekurs

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Relaterede selskaber
Få adgang til information og anbefalinger af relaterede selskaber med PLUS pakken.

Du får adgang til 7 værdifulde investorværktøjer til investering.

Klik her og læs mere om PLUS pakken.
Euroinvestor i andre lande: Euroinvestor.com | Euroinvestor.se | Euroinvestor.no | Euroinvestor.fr | Forexinvestor.com| Wisselkoersen.nl | Valuta.se | Valutaveksel.no | Divisas.es | Valute.it
Copyright Euroinvestor A/S 2014  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
24. juli 2014 08:25:49
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20140723.1 - EUROWEB5 - 2014-07-24 08:25:49 - 2014-07-24 08:25:49 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x