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Tag Archives: marathon oil corp.

St. Paul Park Refinery increasingly focuses on Bakken oil

Minnesota’s oldest oil refinery sees a bigger future with Bakken crude. The refinery on the banks of the Mississippi River in St. Paul Park plans $100 million in upgrades that by next year will boost its refining capability to more than 100,000 barrels of crude oil per day. With that upgrade, on top of significant investment since 2011, the refinery ...

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Marathon reports increased production, profits in the Bakken and Eagle Ford

Marathon Oil Corp. (NYSE: MRO) reports that its production from its U.S. operations increased by 35 percent overall with an average net production of 181,000 barrels of oil equivalent per day (boe/d). Production in the Bakken shale play grew by 31 percent and production in the Eagle Ford increased by 38 percent. The production increase in the Bakken formation is ...

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Oil train disaster settlement growing

PORTLAND, Maine — A proposed settlement fund for victims of a fiery train derailment that claimed 47 lives in Canada is nearly halfway to a goal of $500 million in funding commitments ahead of its filing next month, the defunct railroad’s bankruptcy trustee said. More than a dozen corporations that face potential liability in the Lac Megantic, Quebec, oil train ...

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Plunging crude prices hammer energy companies

NEW YORK — A decision by OPEC this week to maintain current levels of oil production is hammering major energy companies in the U.S. and abroad. Many energy experts had expected the group of oil producing countries, which met in Vienna this week, to act to halt a free fall in the price of crude oil since this summer. A ...

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Oil firms lectured on caring for Eagle Ford

Jennifer Hiller | San Antonio Express-News SAN ANTONIO — The Eagle Ford Shale zoomed from basically nothing — a rock that companies drilled through on the way somewhere else — in 2008 to around 1.5 million barrels of liquid production per day now. But Marathon Oil Corp. President and CEO Lee Tillman said Tuesday that the industry now needs to address ...

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Refracking brings ‘vintage’ oil and gas wells to life

Anna Driver and Ernest Scheyder | Reuters NORTH DAKOTA Aug 20 – A fracking boom isn’t enough for U.S. oil and gas producers – they’re now starting the re-fracking boom. Wells sunk as little as three years ago are being fracked again, the latest innovation in the technology-driven shale oil revolution. Hydraulic fracturing, which has upended global energy markets by ...

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Marathon Oil selling Norway ops in $2.7B deal

Associated Press HOUSTON (AP) — Marathon Oil is selling its Norwegian business to Det Norske Oljeselskap ASA in a deal valued at about $2.7 billion as it streamlines operations and hones its focus on the U.S. Det Norske is buying the subsidiary Marathon Oil Norge AS, which comes with the Alvheim floating production, storage and offloading vessel, 10 company-run licenses ...

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CEO calls for oil exports to strengthen U.S. economy

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By Amy Dalrymple, Dickinson Press BISMARCK – The CEO of Marathon Oil Corp. called for lifting the U.S. ban on crude oil exports Wednesday during his keynote address at the Williston Basin Petroleum Conference. “Lifting today’s crude oil exports restrictions would help strengthen the U.S. economy, foster job creation and promote the efficient development of the domestic energy sector,” said ...

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