Marathon Oil Posts Loss In Q2 - Quick Facts

(RTTNews) - Marathon Oil Corp. (MRO) reported a second quarter loss from continuing operations of $386 million, or $0.57 per share compared to profit of $360 million or $0.53 per share, last year. Second quarter 2015 adjusted loss from continuing operations was $155 million, or $0.23 per share.

Revenue decreased to $1.53 billion from $2.94 billion last year. North America Exploration and Production (E&P) production available for sale averaged 274,000 net barrels of oil equivalent per day (boed) for second quarter 2015, a 21 percent increase over the year-ago quarter.

For third quarter 2015, the company expects North America E&P production available for sale to average 260,000 to 270,000 net boed, reflecting a full quarter at reduced drilling activity levels across the U.S. resource plays.

The company said it is raising the lower end of full-year 2015 E&P production guidance range, resulting in a new range of 375,000 to 390,000 net boed. Full-year 2015 guidance for the total company production growth rate remains 5-7 percent.