Marathon Oil Announces 2023 Capital Budget and Reports Fourth Quarter and Full Year 2022 Results

Returned $3 Billion of Capital to Shareholders in 2022

HOUSTON, Feb. 15, 2023 /PRNewswire/ -- Marathon Oil Corporation (NYSE: MRO) reported full year 2022 net income of $3,612 million, or $5.26 per diluted share, which includes the impact of certain items not typically represented in analysts' earnings estimates and that would otherwise affect comparability of results. Adjusted net income was $3,078 million, or $4.48 per diluted share. Net operating cash flow was $5,428 million, or $5,410 million before changes in working capital (adjusted CFO). Free cash flow was $3,978 million, or $3,947 million before changes in working capital and including Equatorial Guinea (E.G.) distributions (adjusted FCF).

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