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Stock Market & Financial Investment News

News Breaks
December 11, 2013
07:30 EDTMROMarathon Oil to accelerate U.S. resource play activity
Marathon Oil announced plans to accelerate Eagle Ford and Bakken rig activity 20% each, with a 100% rig activity increase planned for Oklahoma Woodford. The company announced a 28-rig program underpinned by 2.4B Boe of 2P unconventional resource, doubled since 2011, and over 4,500 net well locations. The company will allocate over 60% of 2014's $5.9B capital, investment and exploration budget to resource plays, projects a 2014 resource play production growth rate greater than 30% relative to 2013, and forecasts overall production growth rate of approximately 4%, excluding Alaska, Angola and Libya. The company also projects a resource play production compound annual growth rate for the period 2012-2017 of greater than 25%.
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April 22, 2014
07:37 EDTMROIncreased refiner exporting playing a role in high gas prices, WSJ says
Gasoline futures climbed a bit over 1% a gallon Monday and are up 11% for the year. While gasoline prices often rise ahead of summer, more gasoline being exported by refiners plays a "prominent" role in the current rally, said The Wall Street Journal, citing analysts. Publicly traded refiners include HollyFrontier (HFC), Marathon Oil (MRO), Phillips 66 (PSX), Tesoro (TSO), Valero (VLO) and Western Refining (WNR). Reference Link

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