Marathon Oil Corporation (MRO) 2012年年度报告「NYSE」.pdf

1、Dear Fellow Shareholders,The Marathon Oil team delivered liquids-focused volume and value growth through superior execution and financial discipline in 2012.With outstanding leadership at every level across the organization,we achieved 8 percent growth in production available for sale in 2012 compar

2、ed to 2011,excluding Libya,exceeding our original full-year production target.This volume growth was driven largely by the performance of our liquids-focused growth assets,particularly in our strong operated positions in the South Texas Eagle Ford and North Dakota Bakken shale resource plays,along w

3、ith excellent operational reliability from our base assets.In addition,we rebalanced our global exploration portfolio with more high-value,high-potential,lower-risk prospects,while maintaining approximately$500 million in exploration spending.This provides us important upside exposure to additional

4、value-added opportunities.Based on continued robust performance in our resource plays and high reliability in our base assets,Marathon Oil expects 2013 production available for sale to be 6 to 8 percent higher than 2012,excluding Libya and Alaska,and heavily weighted to liquids.We continue to push o

5、ur growth projections further into the future and maintain strong confidence in our 5 to 7 percent compound annual growth rate(CAGR)for 2010-2017,with upside potential from successful exploration projects.Fueling this growth is an expected greater than 10 year drilling inventory in our shale resourc

6、e plays that can create value for shareholders.While we have captured significant growth opportunities,we remain committed to financial discipline,a strong balance sheet and delivering value for our shareholders.Marathon Oil strives to fund our capital spending with internally generated funds.We rec