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MGY - Marathon Oil Drilling Break Conserved Cash For Good Recovery
Magnolia Oil & Gas Corporation Class A
Marathon Oil, a mainly-US producer, resumed drilling in the third quarter after stopping in the second. Its focus is four major basins: Bakken, Eagle Ford, STACK/SCOOP, and Permian.
This $5.6 billion market-cap company also resumed stepped-down dividends at a 1.7% yield.
The company reported good cash flow and free cash flow. 3Q production was 370,000 BOE/D and will stay at a similar year-exit rate, given focus on a maintenance budget.