Marathon Shrugs off Harvey and Beats High End of Guidance With Solid Shale Execution
No-moat-rated Marathon exceeded the top end of guidance with third-quarter production of 371 thousand barrels of oil equivalent per day (excluding Libya), trouncing our 359 mboe/d forecast. Although the firm’s international segment also outperformed, the surprise was primarily driven by better-than-expected growth in U.S. resource plays (which now comprise 60% of the firm’s non-Libya output and account for 95% of its capital). Full-year production guidance was raised slightly to 350-360 mboe/d (...Marathon Oil is an independent exploration and production company focused on the United States resource plays. The company also has international operations in Equatorial Guinea (E.G.). The company's segments are: United States, which explores for, produces and markets crude oil and condensate, natural gas liquids (NGLs) and natural gas in the United States; and International, which explores for, produces and markets crude oil and condensate, NGLs and natural gas outside of the United States as well as produces and markets products manufactured from natural gas, such as liquefied natural gas and methanol, in E.G.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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