Marathon Oil Corporation: How Is Their Multi-basin U.S. Portfolio and Market Position Evolving? 

Marathon Oil Corporation witnessed a strong financial and operational performance in the first quarter of 2024. Despite not receiving any cash distributions from equity affiliates for timing reasons, the company was able to generate 41% or $350 million from its operations which were returned to investors. The catch up for EG cash distributions is anticipated for the second quarter. Oil production crossed the guidance at 181,000 barrels of oil per day. The free cash flow momentum is expected to increase significantly in the later part of the year, contingent upon factors like anticipated recovery of EG cash distributions, a considerable rise in oil production in the second and third quarter and a moderating capital spending profile in the second half of the year.