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Marathon Oil Announces $2.4 Billion Development Capital Budget for 2019;Reports Fourth Quarter and Full-Year 2018 Results
2019年预算有机自由现金流正高于45美元/桶水国际;Returned Over 25% of 2018 Annual Operating Cash Flow to Shareholders

HOUSTONFeb.13,2019/PRNewswire/ -- Marathon Oil Corporation (NYSE:MRO) today announced its 2019 capital expenditure budget in addition to its fourth quarter and full-year 2018 financial results.The 2019 plan and 2018 financial and operating results together reflect the Company's ongoing commitment to its core strategy: corporate returns improvement,bet188官网sustainable free cash flow generation at conservative oil prices,以及向股东返还资本。

(PRNewsfoto/Marathon Oil Corporation)

2019 Capital Budget Highlights

  • 2019年资本预算总额$2.6 billion, down from 2018
    • Total capital budget includes approx.24亿美元开发资本和大约$200 millionof resource play leasing and exploration (REx) spend
    • Organic free cash flow positive above approx.45美元/bbl WTI,后股利
    • Designed to generate meaningful organic free cash flow at$50/bbl WTI,后股利
  • 累计两年(2019-2020年)以上有机自由现金流7亿5000万美元at flat$50/BBL WTI及以上22亿美元at flat$60/bbl WTI
    • Continue to prioritize bet188官网sustainable free cash flow and return of capital to shareholders
    • Shareholder return of capital metric incorporated into executive compensation scorecard complementing already well-established corporate cash return on invested capital (CROIC) and cash flow per debt adjusted share (CFPDAS) metrics
  • 资本效率高的美国oil growth of 12% in 2019 with annual gross operated wells to sales flat to 2018
    • 2019年公司石油总增长10%
    • High value oil growth exceeds BOE growth,an outcome of returns-first capital allocation
  • More than 95% of24亿美元分配给四个美国的发展资本预算资源使用大约60% to the Eagle Ford and Bakken and approx.40%至Oklahomaand theNorthern Delaware
    • Continues underlying rate of change improvement in key enterprise financial performance metrics of CROIC and CFPDAS
    • Development capital includes dedicated funding to organic resource base enhancement initiatives including core extension efforts
  • REx spend is expected to decline to a more ratable$200 million,支持路易斯安那州奥斯汀粉笔和其他新兴机会的发展,重点是全周期回报

Full-year 2018 Results
Marathon Oil reported full-year 2018 net income of10亿9600万美元,或1.29美元稀释每股,which includes the impact of certain items not typically represented in analysts' earnings estimates and that would otherwise affect comparability of results.Adjusted net income was6亿100万美元,或0.71美元per diluted share.净营运现金流为32亿3400万美元,或32亿1100万美元before changes in working capital.

Full-year 2018 Highlights

  • Delivered on commitment to capital discipline with no change to initial23亿美元development capital budget
  • 实现了CRIC年改善78%,CFPDA年改善65%
  • Generated more than$865 millionof organic free cash flow,后股利
  • Prioritized return of capital to shareholders by paying annual dividend of$169 millionand executing7亿美元of share repurchases,leaving$800 millionof remaining repurchase authorization;超过2018年净经营现金流的25%返还给股东
  • 资本效率的提高推动了石油生产的跑赢大市;公司石油总产量增长24%,资产剥离调整后,outperformed initial midpoint guidance of 18%;美国资源开采石油产量增长32%超过22.5%的初始中点指导值。
  • Maintained focus on resource base enhancement and full-cycle returns by advancing successful core extension tests in Eagle Ford and Bakken and progressing REx program;获得约不到26万净英亩$850per acre in the emerging Louisiana Austin Chalk play
  • 成功销售的持续投资组合管理Libyaand receipt of final payment for the sale of oil sands mining business;disposition proceeds more than fully funded REx and all other resource capture activities,包括成功参与新墨西哥州土地管理局(BLM)的租赁销售
  • Drillbit F&D costs of less than$12.50/boe at 125% reserve replacement
  • 通过增加现金和现金等价物,进一步增强资产负债表和财务灵活性9亿美元to$1.5 billionat year-end

"2018 was a year of differentiated execution for Marathon Oil," said Chairman,President and CEO李蒂尔曼."While many in our industry talked about capital discipline,我们交货了。In 2018,we budgeted conservatively and never wavered,我们投入的每一美元资本都会得到更多。We drove significant improvement to our corporate returns and cash flow per debt adjusted share.Through improving capital efficiency we delivered more oil growth,generated$865 million股息后的有机自由现金流,and returned most of that cash back to our shareholders via share repurchases.As we turn to 2019 and beyond,we remain committed to this same framework for success.在同行领先的资产负债表和我们的多流域投资组合的竞争优势的基础上,our 2019 capital program will drive improving corporate returns and generate organic free cash flow above45美元WTI,as we continue to prioritize return of cash to our shareholders."

Fourth Quarter 2018 Results
马拉松石油公司报告2018年第四季度净收入$390 million,或$0.47per diluted share.Adjusted net income was$121 million,或$0.15per diluted share.净营运现金流为$855 million,或$787 millionbefore changes in working capital.

Fourth Quarter 2018 Highlights

  • Generated more than$255 millionof organic free cash flow,后股利
  • 开发资本支出$503 million,down 10% sequentially
  • 公司总产量平均为41.1万桶油当量;total oil production averaged 206,000 net bopd,比上一季度增长17%,divestiture adjusted
  • 美国资源利用产量平均为29.5万桶油当量;oil production averaged 174,000 net bopd,up 22% from the year-ago quarter
  • Eagle Ford production averaged 107,000 net boed;38 wells achieved an average 30-day IP rate of 1,810 boed (72% oil)
  • Bakken平均净产量为94000桶油当量;邓恩县Ajax地区的岩心延伸试验明显超出预期,四个井场平均30天IP率为2370 boed(81%的石油),平均完工成本约为。$5 million
  • Oklahoma平均产量为6.7万桶油当量;transition to multi-well pads continued with another successful SCOOP Woodford infill development that also included a positive Springer delineation test
  • Northern Delawareproduction increased to 26,000 net boed;12 gross Company-operated wells to sales with an average 30-day IP rate of 1,935 boed (49% oil)

美国
美国production averaged 306,000 net barrels of oil equivalent per day (boed) for fourth quarter 2018,including oil production of 180,000 net barrels of oil per day (bopd).Oil production was up 4 percent compared to the prior quarter and up 22 percent from the year-ago quarter on a divestiture-adjusted basis.Fourth quarter production from the U.S.resource plays was 295,000 net boed,including oil production of 174,000 net bopd.美国第四季度unit production costs were$5.31per barrel of oil equivalent (boe),连续减少14%。

EAGLE FORD: Marathon Oil's Eagle Ford production averaged 107,000 net boed in the fourth quarter,up 2 percent from the year-ago quarter.The Company brought 38 gross Company-operated wells to sales in the quarter with an average 30-day initial production (IP) rate of 1,810 boed (72% oil).

BAKKEN: In fourth quarter 2018,马拉松石油公司的巴肯石油平均净产量为94000桶。up 37 percent from the year-ago quarter.与去年同期相比,石油产量增长了40%以上。该公司带来27口公司运营的油井,平均30天的IP率为3335 boed(76%的石油)。with activity primarily concentrated in Myrmidon.公司还在邓恩县Ajax地区进行了一次成功的核心扩展测试。由于四口井的Gloria Pad平均30天IP速率为2370 boed(81%的石油),平均完工井成本约为。$5 million.

OKLAHOMA: Marathon Oil'sOklahomaproduction averaged 67,000 net boed during fourth quarter 2018,比去年同期增长4%,公司运营的油井只有12口。在伍德福德的独家新闻中,seven infill wells on the 3R pad (eight wells per section spacing) achieved an average 30-day IP rate of 2,600 boed (69% liquids).在同一个垫子上,Marathon Oil also brought online a Springer delineation well that achieved a 30-day IP rate of 1,825 boed (81% oil).

NORTHERN DELAWARE: Marathon Oil'sNorthern Delawareproduction increased to an average of 26,000 net boed in fourth quarter 2018,up 138 percent from the year-ago quarter.The Company brought 12 gross Company-operated wells to sales in the Malaga andRed Hillsareas with an average 30-day IP rate of 1,935 boed (49% oil),or 360 boed per 1,000 foot lateral.Fourth quarter activity was primarily focused on delineating the Company's acreage position,包括马拉加的更低Wolfcamp间隔测试。在第四季度,公司签署了一份全面的水管理协议,涵盖了整个Red Hillsprospect area,complementing a previously announced agreement in伊迪康尼.

RESOURCE CAPTURE:在发展资本计划之外,REX第四季度资本支出总计$75 million,consistent with guidance,and bringing full-year 2018 REx spending to$369 million.In addition to REx,2018年全年的资源捕获还包括之前宣布的$105 million接入式采集New Mexicothrough the BLM lease sale.Total 2018 resource capture spend of$474 millionwas more than fully funded through divestiture proceeds received in first quarter 2018.

International
International production averaged 105,000 net boed for fourth quarter 2018,down 13 percent compared to the year-ago quarter on a divestiture-adjusted basis.The decrease reflects unscheduled downtime at the non-operated Foinaven complex as well as natural decline and planned maintenance activities in E.G.Fourth quarter 2018 International unit production costs averaged5.40美元每英国央行。

Production Guidance
For full year 2019,the Company forecasts total oil production growth of 10 percent,with U.S.oil growth of 12 percent,both at the midpoint of guidance and on a divestiture adjusted basis.Oil growth is expected to outpace boe production growth,consistent with a focus on corporate returns.For first quarter 2019,the Company forecasts total oil production of 195 - 215 bopd,with U.S.石油产量为175-185桶/天。The first quarter 2019 U.S.production guidance range accounts for extreme weather conditions experienced early in the quarter.The first quarter 2019 International production guidance range reflects a planned triennial shutdown in E.G.开展周转活动,consistent with prior disclosure.For more specific detail regarding 2019 production guidance,请参阅本版本中包含的指导表。

公司
The Company has executed7亿美元of share repurchases,向股东返还额外资本$169 millionannual dividend.Share repurchases were more than fully funded by organic free cash flow of over$865 millionpost-dividend.

截至Dec.三十一大约是49亿美元,which consisted of$1.5 billionin cash and cash equivalents and an undrawn revolving credit facility of34亿美元延长一年至2022年。

The adjustments to net income for fourth quarter 2018 totaled$256 millionbefore tax,主要是由于与衍生工具未实现收益相关的收入影响,partially offset by a write off related to historical International exploration expenses and associated well costs.

For 2019,the Company's open crude hedge positions (as of2月12日) include an average of 60,000 bopd at a weighted average floor price of$56.67加权平均最高限价为$73.18,hedged through three-way collars.

Reserves
2018期间,马拉松石油增加探明储量1.86亿桶,储量置换率125%,不包括处置。at a drillbit finding and development (F&D) cost of$12.41.实际上,所有新增的项目都在美国。Net proved reserves were approximately 1.28 billion boe at year-end 2018,与2017年末相比,主要是由于Libya.

A slide deck and Quarterly Investor Packet will be posted to the Company's website following this release today,Feb.十三.论星期四,Feb.十四,at9:00 a.m.ET,the Company will conduct a question and answer webcast/call,which will include forward-looking information.The live webcast,重播和所有相关材料将在//www.wpdice.com/Investors.

Definitions
CROIC - Cash return on invested capital;calculated by taking cash flow (operating cash flow before working capital + net interest after tax) divided by (average stockholder's equity + average net debt).
自由现金流——经营性现金流,减去资本支出,更少的股息,plus other.
Organic free cash flow - Operating cash flow before working capital (excluding exploration costs other than well costs),less development capital expenditures,更少的股息,plus other.

非GAAP措施
In analyzing and planning for its business,马拉松石油公司用非公认会计原则财务措施补充其对公认会计原则财务措施的使用,including adjusted net income (loss),调整后每股净收益(亏损)net cash provided by continuing 188体育比分operations before changes in working capital,and organic free cash flow because the Company believes this information is useful to investors to help evaluate the Company's financial performance between periods and to compare the Company's performance to certain competitors.管理层还使用营运资本变动前持续经营提供的净现金,以证明公司有能力为资本支出提供内部资金。188体育比分pay dividends and service debt.The Company considers adjusted net income (loss),adjusted income (loss) from continuing 188体育比分operations,调整后的每股净收入(亏损)和调整后的每股持续经营收入(亏损),作为另一种方式,有意义地代表公司在所列期间的经营业绩;188体育比分consequently,不包括市值计价会计的影响,impairment charges,dispositions,pension settlements,and other items that could be considered "non-operating" or "non-core" in nature.These non-GAAP financial measures reflect an additional way of viewing aspects of the business that,when viewed with GAAP results may provide a more complete understanding of factors and trends affecting the business and are a useful tool to help management and investors make informed decisions about Marathon Oil's financial and operating performance.这些措施不应被视为其最直接可比的公认会计准则财务措施的替代品。A reconciliation to their most directly comparable GAAP financial measures can be found in our investor package on our website atwww.wpdice.comand in the tables below.马拉松石油公司强烈鼓励投资者全面审查公司的合并财务报表和公开提交的报告,而不依赖任何单一的财务措施。

Forward-looking Statements
本公告包含《1933年证券法》第27A节和《1934年证券交易法》第21E节所指的前瞻性声明。All statements,other than statements of historical fact,including without limitation statements regarding the Company's 2019 capital budget and allocations (including development capital budget and resource play leasing and exploration spend),未来表现,organic free cash flow,free cash flow,公司层面的投资资本现金回报,商业战略,资产质量,drilling plans,production guidance,cash margins,CRIC和CFPDA的变化率,asset sales and acquisitions,租赁和勘探活动,生产,石油增长和未来运营的其他计划和目标,188体育比分are forward-looking statements.Words such as "anticipate," "believe," "could," "estimate," "expect," "forecast," "guidance," "intend," "may," "plan," "project," "seek," "should," "target," "will," "would," or similar words may be used to identify forward-looking statements;however,the absence of these words does not mean that the statements are not forward-looking.While the Company believes its assumptions concerning future events are reasonable,a number of factors could cause actual results to differ materially from those projected,including,but not limited to: conditions in the oil and gas industry,包括供需水平及其对价格的影响;changes in expected reserve or production levels;changes in political or economic conditions in the jurisdictions in which the Company operates;risks related to the Company's hedging activities;勘探开发资金;drilling and operating risks;油井生产时机;availability of drilling rigs,materials and labor,including associated costs;难以获得必要的批准和许可;non-performance by third parties of contractual obligations;unforeseen hazards such as weather conditions,acts of war or terrorist acts and the government or military response thereto;cyber-attacks;安全方面的变化,健康,environmental,tax and other regulations;其他地质operating and economic considerations;and the risk factors,forward-looking statements and challenges and uncertainties described in the Company's 2017 Annual Report on Form 10-K,Quarterly Reports on Form 10-Q and other public filings and press releases,available atwww.wpdice.com.除非法律要求,the Company undertakes no obligation to revise or update any forward-looking statements as a result of new information,future events or otherwise.

Media 188bet备用网站Relations Contact:
Lee Warren: 713-296-4103

Investor 188bet备用网站Relations Contacts:
Guy Baber: 713-296-1892
约翰·里德: 713-296-4380

合并损益表(未经审计)

三个月结束

Year Ended


Dec.三十一

Sept.30

Dec.三十一

Dec.三十一

Dec.三十一

(以百万计,except per share data)

2018

2018

二千零一十七

2018

二千零一十七

收入和其他收入:






客户合同收入

$

1,380


$

1,538


$

一千三百三十六


$

五千九百零二


$

四千二百四十七


Net gain (loss) on commodity derivatives

三百一十


(70)


(151)


(14)


(36)


营销收入

-


-


四十五


-


一百六十二


Income from equity method investments

六十四


六十四


73


二百二十五


256


资产处置净损益

(4)


16


32


319


58


Other income

15


119


四十七


一百五十


78


Total revenues and other income

1,765


1,667


1,382


6,582


4,765


成本和费用:






Production

二百零五


二百一十五


188


八百四十二


716


Marketing,including purchases from related parties

-


-


四十七


-


168


Shipping,handling and other operating

167


152


122


五百七十五


431


Exploration

一百一十六


56


57


289


409


Depreciation,depletion and amortization

613


626


五百八十三


2,441


2,372


Impairments

25


8


24


75


229


Taxes other than income

84


86


五十五


299


一百八十三


General and administrative

88


101


95


三百九十四


371


Total costs and expenses

1,298


一千二百四十四


1,171


四千九百一十五


4,879


经营收入(亏损)188体育比分

467


423


211


1,667


(114)


Net interest and other

(58)


(58)


(71)


(226)


(270)


Other net periodic benefit costs

(3)


(8)


(3)


(14)


(19)


Loss on early extinguishment of debt

-


-


(5)


-


(51)


Income (loss) from continuing 188体育比分operations before income taxes

406


357


132


1,427


(454)


Provision (benefit) for income taxes

16


103


160


三百三十一


三百七十六


Income (loss) from continuing 188体育比分operations

390


254


(28)


1,096


(830)


终止经营的收入(损失)(a)188体育比分

-


-


-


-


(4,893)


Net income (loss)

$

390


$

254


$

(28)


$

1,096


$

(5,723)








Adjusted Net Income (Loss)






Income (loss) from continuing 188体育比分operations

390


254


(28)


1,096


(830)


Adjustments for special items from continuing 188体育比分operations (pre-tax):






资产处置净(收益)损失

4


(16)


(32)


(319)


(57)


证实的财产损失

25


8


24


75


二百二十五


Exploratory dry well costs,unproved property impairments and other

四十


-


-


四十


二百五十


Pension settlement

5


10


7


21


32


Unrealized (gain) loss on derivative instruments

(336)


(19)


145


(267)


81


Reduction of U.K.ARO estimated costs

-


(113)


(53)


(121)


(53)


其他

6


-


5


6


(2)


Provision (benefit) for income taxes related to special items from continuing 188体育比分operations

(13)


76


(12)


70


(13)


Valuation allowance

-


-


-


-


四十一


Adjustments for special items

(269)


(54)


84


(495)


504


Adjusted income (loss) from continuing 188体育比分operations (a)

$

121


$

200


$

56


$

六百零一


$

(326)


Income (loss) from discontinued 188体育比分operations (b)

-


-


-


-


(4,893)


Adjustments for special items from discontinued 188体育比分operations (pre-tax):






Canadian oil sands business impairment (b)

-


-


-


-


6,636


处置净(收益)损失(b)

-


-


-


-


43


Provision (benefit) for income taxes related to special items from discontinued 188体育比分operations (b)

-


-


-


-


(1,674)


Adjusted net income (loss) (a)

$

121


$

200


$

56


$

六百零一


$

(214)


稀释每股:






Income (loss) from continuing 188体育比分operations

$

零点四七


$

零点三零


$

(0.03)


$

1.30


$

(0.97)


Net income (loss)

$

零点四七


$

零点三零


$

(0.03)


$

1.30


$

(6.73)


Adjusted income (loss) from continuing 188体育比分operations (a)

$

0.15


$

0.24


$

0.07


$

0.71


$

(0.38)


Adjusted net income (loss) (a)

$

0.15


$

0.24


$

0.07


$

0.71


$

(0.25)


Weighted average diluted shares

829


八百四十九


八百五十


847


八百五十


(a)

The Company closed on its sale of the Canadian oil sands business in the second quarter of 2017 which is reflected as discontinued 188体育比分operations for the year ended December 31,2017.

(b)

Non-GAAP financial measure.See "Non-GAAP Measures" above for further discussion.


补充统计(未审计)

三个月结束

Year Ended


Dec.三十一

Sept.30

Dec.三十一

Dec.三十一

Dec.三十一

(In millions)

2018

2018

二千零一十七

2018

二千零一十七

Segment income (loss)






美国

$

一百五十九


$

201


$

76


$

六百零八


$

(148)


International

83


一百一十六


118


473


374


Segment income (loss)

二百四十二


三百一十七


一百九十四


1,081


226


Not allocated to segments

148


(63)


(222)


15


(1056)


Income (loss) from continuing 188体育比分operations

390


254


(28)


1,096


(830)


终止经营的收入(损失)(a)188体育比分

-


-


-


-


(4,893)


Net income (loss)

$

390


$

254


$

(28)


$

1,096


$

(5,723)


勘探费用






美国

$

76


$

五十五


$

57


$

二百四十六


$

154


International

-


1


-


3


5


分部勘探费用

76


56


57


二百四十九


一百五十九


Not allocated to segments

四十


-


-


四十


二百五十


Total

$

一百一十六


$

56


$

57


$

289


$

409


现金流






持续经营活动产生的现金净额188体育比分

$

855


$

963


$

五百零一


$

3,234


$

一千九百八十八


Minus: changes in working capital

六十八


103


(2)


23


(26)


Minus: U.K.tax payment

-


-


(108)


-


(108)


Total net cash provided from continuing 188体育比分operations before changes in working capital and the U.K.tax payment (b)

$

七百八十七


$

860


$

611


$

三千二百一十一


$

2,122


终止经营活动产生的现金净额(a)188体育比分

$

-


$

-


$

-


$

-


$

141








财产现金增加,厂房和设备

$

(684)


$

(769)


$

(669)


$

(2,753)


$

(1,974)


(a)

The Company closed on its sale of the Canadian oil sands business in the second quarter of 2017 which is reflected as discontinued 188体育比分operations for the year ended December 31,2017.

(b)

Non-GAAP financial measure.See "Non-GAAP Measures" above for further discussion.

补充统计(未审计)

三个月结束

Year Ended

(In millions)

Dec.31,2018

Dec.31,2018

Organic Free Cash Flow



Net cash provided by operating activities

$

855


$

3,234


Minus: changes in working capital

六十八


23


减:除钻井费用外的勘探费用

(5)


(34)


开发资本支出

(503)


(2,286)


Dividends

(41)


(169)


EG LNG return of capital and other

9


78


Organic free cash flow (a)

$

二百五十七


$

868


(a)

Non-GAAP financial measure.See "Non-GAAP Measures" above for further discussion.

补充统计(未审计)

三个月结束

Year Ended


Dec.三十一

Sept.30

Dec.三十一

Dec.三十一

Dec.三十一

(MBOD)

2018

2018

二千零一十七

2018

二千零一十七

Net production






美国

三百零六


三百零四


二百六十二


298


二百三十五


国际,excluding Libya (a)

一百零五


115


121


114


123


持续经营的净生产总值,188体育比分excluding Libya (a)

411


419


383


412


三百五十八


Libya (a)

-


-


三十三


7


十九


持续经营净生产总值188体育比分

411


419


四百一十六


419


377


(a)

The Company closed on the sale of its Libya subsidiary in the first quarter 2018.

补充统计(未审计)

三个月结束

Year Ended


Dec.三十一

Sept.30

Dec.三十一

Dec.三十一

Dec.三十一

(MBOD)

2018

2018

二千零一十七

2018

二千零一十七

Net production






美国

三百零六


三百零四


二百六十二


298


二百三十五


Less: Divestitures (a)

-


1


4


3


8


Total divestiture-adjusted United States

三百零六


303


258


295


227








International

一百零五


115


154


121


一百四十二


Less: Divestitures (b)

-


1


35


8


20


Total divestiture-adjusted International

一百零五


114


119


113


122








Total net production divestiture-adjusted (a)(b)

411


417


377


四百零八


三百四十九


Discontinued 188体育比分operations (c)

-


-


-


-


18


(a)

The Company closed on the sale of certain United States non-core conventional assets primarily in the Gulf of Mexico in the third quarter of 2018,Oklahoma and Colorado in the third quarter of 2017.These production volumes have been removed from all historical periods shown in arriving at total divestiture-adjusted United States net production.

(b)

The Company closed on the sale of its Libya subsidiary in the first quarter 2018.  Additionally,剥离包括出售在2018年第三季度结束的某些非核心国际资产。These production volumes have been removed from all historical periods shown in arriving at total divestiture-adjusted International net production.

(c)

The Company closed on its sale of the Canadian oil sands business in the second quarter of 2017 which is reflected as discontinued 188体育比分operations for the year ended December 31,2017.

补充统计(未审计)

三个月结束

Year Ended


Dec.三十一

Sept.30

Dec.三十一

Dec.三十一

Dec.三十一


2018

2018

二千零一十七

2018

二千零一十七

United States - net sales volumes






Crude oil and condensate (mbbld)

180


173


一百五十


一百七十一


一百三十三


鹰福特

62


66


61


六十三


五十九


Bakken

82


72


58


71


四十六


Oklahoma

16


18


16


18


15


Northern Delaware

十四


12


8


12


4


其他美国(a)

6


5


7


7


9


Natural gas liquids (mbbld)

五十五


58


四十九


五十五


43


鹰福特

24


26


23


23


21


Bakken

6


6


6


7


6


Oklahoma

十九


21


18


20


十四


Northern Delaware

5


4


1


4


1


其他美国(a)

1


1


1


1


1


天然气(MMCFD)

四百二十二


433


三百七十六


四百二十九


348


鹰福特

127


137


127


129


125


Bakken

35


36


26


35


25


Oklahoma

192


二百零八


180


213


149


Northern Delaware

四十二


30


十四


26


9


其他美国(a)

26


22


29


26


四十


Total United States (mboed)

305


303


二百六十二


298


234


International - net sales volumes






Crude oil and condensate (mbbld)

29


二十七


58


39


52


Equatorial Guinea

16


18


20


17


21


大不列颠联合王国

10


6


5


十一


10


Libya (b)

-


-


29


7


十九


Other International

3


3


4


4


2


Natural gas liquids (mbbld)

10


十一


十三


十一


12


Equatorial Guinea

10


十一


12


十一


十一


大不列颠联合王国

-


-


1


-


1


天然气(MMCFD)

411


441


四百九十三


435


485


Equatorial Guinea

四百


426


四百六十四


四百一十六


459


英国(C)

十一


15


15


十四


22


Libya (b)

-


-


十四


5


4


国际总计(MBOED)

108


一百一十二


一百五十三


122


145


公司总销售额-净销售额(MBOED)

413


四百一十五


四百一十五


420


379


Net sales volumes of equity method investees






LNG (mtd)

五千三百八十四


六千一百五十二


6,353


5,805


6,423


Methanol (mtd)

1,119


1,334


一千六百三十七


1,241


1,374


Condensate and LPG (boed)

一万五千零七十一


一万一千九百四十二


14,605


13,034


14,501


(a)

Includes sales volumes from the sale of certain United States non-core conventional assets primarily in the Gulf of Mexico in the third quarter of 2018,Oklahoma and Colorado in the third quarter of 2017,respectively.

(b)

The Company closed on the sale of its Libya subsidiary in the first quarter 2018.

(c)

Includes natural gas acquired for injection and subsequent resale.

补充统计(未审计)

三个月结束

Year Ended


Dec.三十一

Sept.30

Dec.三十一

Dec.三十一

Dec.三十一


2018

2018

二千零一十七

2018

二千零一十七

United States - average price realizations (a)






原油和凝析油(美元/桶)(b)

$

56.01


$

六十八点五一


$

55.46


$

63.11


$

49.35


鹰福特

63.27


72.00


57.82


六十七点一九


49.93


Bakken

五十一点一一


67.26


54.42


60.39


四十九点二八


Oklahoma

58.42


七十点一四


53.90


六十四点六三


48.79


Northern Delaware

48.04


55.01


五十三点七四


五十五点二三


48.84


Other United States (c)

六十点四一


66.67


48.87


63.11


46.98


天然气液体(美元/桶)

$

24.71


$

二十八点零七


$

23.60


$

24.54


$

20.55


鹰福特

21.46


28.62


22.54


24.08


19.32


Bakken

十九点零一


31.92


24.09


24.98


18.38


Oklahoma

29.55


25.29


二十四点一六


24.38


22.74


Northern Delaware

28.99


三十一点四四


26.79


26.30


24.04


Other United States (c)

二十六点六八


34.71


三十点零六


二十八点六三


24.61


Natural gas ($ per mcf) (d)

$

3.27


$

二点五五


$

二点六五


$

二点六五


$

2.84


鹰福特

三点六九


2.84


2.82


3.09


二点八九


Bakken

3.46


2.64


2.82


2.95


2.80


Oklahoma

3.22


2.40


2.54


二点三八


2.82


Northern Delaware

1.80


2.24


二点三七


2.08


二点七零


Other United States (c)

三点六五


2.48


2.56


二点七三


2.82


International - average price realizations






原油和凝析油(每桶美元)

$

58.25


$

64.08


$

61.32


$

六十四点二五


$

53.05


Equatorial Guinea

46.35


61.23


52.92


55.28


46.02


大不列颠联合王国

78.49


七十三点二八


61.94


74.34


54.51


Libya (e)

-


-


68.31


73.75


60.72


Other International

52.52


六十二点三零


四十八点八九


58.89


44.73


天然气液体(美元/桶)

$

2.25


$

2.04


$

4.66


$

2.27


$

三点一五


赤道几内亚(F)

1.00


1.00


1.00


1.00


1.00


大不列颠联合王国

33.44


50.37


四十五点七一


41.66


39.65


Natural gas ($ per mcf)

$

零点四九


$

0.50


$

0.59


$

0.54


$

0.55


赤道几内亚(F)

0.24


0.24


0.24


0.24


0.24


大不列颠联合王国

九点一三


8.60


7.20


八点零三


6.28


Libya (e)

-


-


5.03


四点五七


5.03


Benchmark






WTI crude oil (per bbl)

$

五十九点三四


$

六十九点四三


$

55.30


$

64.90


$

50.85


布伦特(欧洲)原油(每桶)(g)

$

六十七点七一


$

七十五点二二


$

六十一点五三


$

71.06


$

五十四点二五


亨利枢纽天然气(每百万英热单位)(h)

$

3.64


$

2.90


$

2.93


$

3.09


$

三点一一


(a)

不包括商品衍生工具的收益或损失。

(b)

将已实现收益(损失)计入原油衍生工具将影响平均价格实现(1.50美元)。$(5.70),$(0.76),2018年第四和第三季度分别为4.60美元和0.75美元,2017年第四季度,and the years 2018 and 2017,respectively.

(c)

Includes sales volumes from the sale of certain United States non-core conventional assets primarily in the Gulf of Mexico in the third quarter of 2018,Oklahoma and Colorado in the third quarter of 2017,respectively.

(d)

Inclusion of realized gains (losses) on natural gas derivative instruments would have a minimal impact on average price realizations for the periods presented.

(e)

The Company closed on the sale of its Libya subsidiary in the first quarter 2018.

(f)

Represents fixed prices under long-term contracts with Alba Plant LLC,Atlantic Methanol Production Company LLC and/or Equatorial Guinea LNG Holdings Limited,即权益法投资对象。The Alba Plant LLC processes the NGLs and then sells secondary condensate,丙烷,以及以市场价格计算的丁烷。Marathon Oil includes its share of income from each of these equity method investees in the International segment.

(g)

从能源信息管理网站获得的月平均价格。

(h)

Settlement date average per mmbtu.

Full-Year 2019

Production Guidance

石油产量(mbbld)


当量产量(MBOED)

2019

2018


2019

2018


Low

High

资产剥离调整(a)


Low

High

资产剥离调整(a)

Net production








美国

185


195


169



320


330


295


International

20


30


二十七



90


100


110


总净产量

二百零五


二百二十五


196



410


430


405


(a)

Divestiture-adjusted also removes volumes associated with Atrush which is treated as held for sale.

Q1 2019

Production Guidance

石油产量(mbbld)


当量产量(MBOED)

Q1 2019

Q4 2018

Q1 2018


Q1 2019

Q4 2018

Q1 2018


Low

High

资产剥离调整(a)

资产剥离调整(a)


Low

High

资产剥离调整(a)

资产剥离调整(a)

Net production










美国

一百七十五


185


180


160



295


305


三百零六


278


International

20


30


23


30



85


95


102


110


总净产量

195


二百一十五


203


190



三百八十


四百


四百零八


三百八十八


(a)

Divestiture-adjusted also removes volumes associated with Atrush which is treated as held for sale.





Estimated Net Proved Reserves from Continuing 188体育比分Operations (mmboe)

U.S

国际航空公司

Total

截至12月31日,二千零一十七

1,020


四百二十九


一千四百四十九


Additions

100


2


102


Revisions

71


十三


84


Acquisitions

-


-


-


处置

(4)


(197)


(201)


Production

(109)


(44)


(153)


截至12月31日,2018

1,078


203


1,281






储量有机变化(不包括处置)(MMBOE)



186


生产(不包括处置)(MMBOE)(A)



149


Organic Reserve Replacement Ratio (excluding dispositions)



125

%





Finding Costs ($ in millions,except as indicated)



2018

房地产收购成本-已证实



$

222


Property Acquisition Costs - Unproved



144


Exploration



921


Development



一千二百零四


Total Company - Costs Incurred



$

2,491






产生的成本



$

2,491


储量有机变化(不包括处置)(MMBOE)



186


Finding and Development Costs per BOE



$

13.39






Costs Incurred



$

2,491


Property Acquisition Costs (Proved and Unproved)



(366)


资本化资产报废成本



一百八十三


有机发现和开发成本



$

2,308


储量有机变化(不包括处置)(MMBOE)



186


Organic Finding and Development Costs per BOE



$

十二点四一


(a)

Excludes approximately 4 mmboe related to certain dispositions,primarily the sale of our Libya subsidiary in the first quarter 2018.

The following tables set forth outstanding derivative contracts as ofFebruary 12,2019以及这些合同的加权平均价格:



2019



2020

原油


First Quarter


第二季度


Third Quarter


第四季度



Full Year

Three-Way Collars












Volume (Bbls/day)


七万


七万


50,000


50,000



-

Weighted average price per Bbl:












Ceiling


71.21美元


71.21美元


$75.88


$75.88



-

Floor


55.86美元


55.86美元


57.80美元


57.80美元



-

卖出卖出期权


48.71美元


48.71美元


$50.80


$50.80



-

基础互换(a)(b)












Volume (Bbls/day)


一万


11,000


16,000


16,000



一万五千

Weighted average price per Bbl


$(0.82)


$(1.06)


$(1.53)


$(1.53)



$(0.94)

NYMEX Roll Basis Swaps












Volume (Bbls/day)


60,000


60,000


60,000


60,000



-

Weighted average price per Bbl


$0.38


$0.38


$0.38


$0.38



-

Natural Gas












Three-Way Collars












Volume (MMBtu/day)


200,000


-


-


-



-

Weighted average price per MMBtu:












Ceiling


$5.25


-


-


-



-

Floor


3.43美元


-


-


-



-

卖出卖出期权


$2.88


-


-


-



-

(a)

The basis differential price is between WTI Midland and WTI Cushing.

(b)

Between January 1,2019年和2月12日,2019,公司于2019年7月至12月签订了5000桶/天的米德兰基础掉期合约,平均价格为2.55美元,2019年3月至12月签订了1000桶/天的Clearbrook基础掉期合约,平均价格为3.50美元。

源马拉松石油公司

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