Marathon Oil

Oil and refinery company.

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Headquarters:
5555 San Felipe Road
Houston, TX 77056
Employees: 29,677
CEO: Clarence Cazalot Jr.
Stock Symbol: MRO

Website: http://www.marathon.com

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Marathon Oil is engaged in the worldwide exploration and production of crude oil and natural gas, as well as the domestic refining, marketing and transportation of petroleum products. Headquartered in Houston, Marathon is among the leading energy industry players, applying innovative technologies to discover valuable energy resources and deliver the highest quality products to the marketplace.

Marathon is the fourth-largest U.S.-based fully integrated energy company, with operations in the U.S., Angola, Equatorial Guinea, Gabon, Indonesia, Ireland, Libya, Norway, Poland and the U.K. Marathon owns a 20 percent outside-operated interest in the Athabasca Oil Sands Project (AOSP), which includes the Muskeg River Mine, the Scotford Upgrader and additional prospective acreage in Alberta, Canada.

The company is also the nation's fifth-largest refiner and its retail marketing system is made up of 6,450 locations in 18 states.

Marathon’s operations include a seven-plant refining network with 1,016,000 barrels per day of crude oil refining capacity.

Marathon had total revenues in 2010 of $73.6 billion and net income of $2.56 billion.

“During 2010 Marathon continued to deliver significant value by fully integrating the expanded Garyville refinery, increasing the Company’s oil sands mining capacity and adding considerably to the Company’s Upstream portfolio, including expansion of our liquids-rich U.S. resource acreage by more than 60 percent and our entry into the Iraqi Kurdistan Region,” said Clarence P. Cazalot Jr., Marathon’s president and CEO. “With significant investment in these and other major projects over the past few years, and our focus on oil production and reserves, we have a solid foundation that will benefit from improving global economic conditions and, in particular, from wider crude differentials, stronger commodity prices and higher overall demand for our products.”

History

The company was founded in Ohio in 1887 by Henry Ernst as the Ohio Oil Company. Ohio was the leading center of oil production in the country at the time. John D. Rockefeller's Standard Oil Trust purchases The Ohio in 1889 and the company would grow by adding pipelines and acquiring other oil companies including the Marathon product name. In 1962, the company changed its name to Marathon in honor of its 75th anniversary.

In 1982, Marathon became a subsidiary of US Steel Corporation. In 2002, Marathon Oil became a standalone company trading on the New York Stock Exchange.

On October 18, 2007, Marathon Oil completed the acquisition of Western Oil Sands Inc. through a cash and securities transaction of approximately US$5.8 billion, plus Western's outstanding debt valued at approximately US$1.1 billion, for a total transaction value of US$6.9 billion.

Benefits

Marathon offers a highly competitive pay package that includes base pay, annual cash bonuses and long-term incentives for qualifying employees.

Other benefits include flex time, 9/80 work schedules, part-time work with benefits, fitness centers, intramural sports and numerous wellness programs for employees and families.

Updated August 6, 2011