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Marathon Oil Corporation - Corporate Headquarters
5555 San Felipe Road
Houston, TX 77056-2723
Tel: +1 713.629.6600
Marathon Oil
Description
Since 1887, when it began trading as the Ohio Oil Company, Marathon Oil Corporation has been making energy history. The Company was founded under the leadership of president Henry M. Ernst in northwestern Ohio-the country’s leading center for crude oil production at this time.
Today, Marathon Oil Corporation is an independent international energy company engaged in exploration and production, oil sands mining and integrated gas.
Based in Houston, Texas, the Company's operations are located in the United States and Equatorial Guinea.
In July 2011, Marathon completed the spin-off of Marathon Petroleum Corporation, making Marathon Oil an independent upstream company.
Production and reserves
Year-end 2021 proved reserves totaled 1,106 million barrels of oil equivalent (mmboe), an increase of 134 mmboe, or 14%, in comparison to year-end 2020 proved reserves. 2021 proved reserve additions were attributable to higher commodity prices, performance improvements, extensions in proved areas, and 5-year plan changes. Oil accounted for 52% of the Company's year-end 2021 proved reserves.
Marathon reported full year 2021 oil production of 173,000 net bopd and oil-equivalent production of 348,000 net boed.