Marathon Oil became an independent E&P company on July 1, 2011. Based in Houston, we`re focused on the most significant oil-rich resource plays in the U.S. -- the Eagle Ford in Texas, Permian in New Mexico, STACK and SCOOP in Oklahoma, and the Bakken in North Dakota. We also have international operations in Europe and Africa. While we feel like a start-up in many ways, our roots go back 130 years to our company`s formation in 1887. Our stock trades on the New York Stock Exchange under the ticker symbol: MRO.
Marathon Oil traces our history back to 1887. From the beginning, we focused on oil production, starting as The Ohio Oil Company, based in northwestern Ohio, which was the leading center for crude oil production in the U.S. at that time. Because of our early success, John D. Rockefeller’s Standard Oil Trust purchased The Ohio in 1889, and we remained part of Standard Oil until it was broken up in 1911. We entered the refining business in 1924, and operated as an integrated oil company for nearly 90 years of our history.
In 1930, we purchased the Transcontinental Oil Company, acquiring the Marathon product name, the Pheidippides Greek runner trademark, and the 'Best in the long run' slogan. That same year we began trading on the New York Stock Exchange. More than three decades later, in 1962, we adopted Marathon Oil Company as our corporate name. From 1982 until 2002, we were part of US Steel. In 1990, we moved our headquarters from Ohio to Houston, where we have remained. When we pulled apart from US Steel, we once again became a standalone company in 2002. In 2011, we spun off the refining business and became an independent E&P company.
Our strategy is focused on the lower cost, higher margin U.S. resource plays that are liquids rich. Our playbook is simple: a strengthened balance sheet, relentless focus on costs, simplifying and concentrating our portfolio, and profitable growth within cash flows.
Are you looking for a company whose values align with yours?
As we work to produce the energy the world needs, we are defined by our shared values. We start with a commitment that doing the right thing is non-negotiable. Safety, social responsibility and ethical behaviors enable our license to operate.
Integrity will help us compete successfully in everything we do. Our Code of Business Conduct reinforces our long-standing commitment to high ethical standards and summarizes the fundamental importance of acting with integrity.
It’s important that our employees, stakeholders and business partners understand our position regarding ethical business conduct.