SOURCE: Industrial Info Resources

Industrial Info Resources

November 06, 2015 06:30 ET

Marathon Oil Guts Capital Spending Plans as Losses Widen in Third-Quarter 2015, Despite Growth in Eagle Ford, Other U.S. Shales, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwired - Nov 6, 2015) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Finding rosy lenses unfashionable, executives at oil and gas giant Marathon Oil Company (NYSE:MRO) (Houston, Texas) acknowledged that oil prices likely will remain low for a "longer period of time" in a presentation accompanying third-quarter 2015 results. The company's capital-spending plan for 2016 is now expected to be 29% lower than the plan for 2015, although operational improvements have helped to boost output in the profitable U.S. resource plays, including the Eagle Ford Shale. Industrial Info is tracking $9.89 billion in active projects involving Marathon Oil.

Within this article: Details on Marathon Oil's quarter and projects, including the expansion a crude-oil storage terminal in Louisiana.

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