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Marathon Oil benefits from higher oil and gas prices. Bakken & Eagle Ford are its focus, with operations also in Oklahoma & Permian. Overseas it produces gas from Equatorial Guinea.
This $10.5 billion market-cap company just increased dividends slightly for a 1.2% yield. The impact of low 2020 prices is seen in YE20 $4.0 billion SEC PV-10 reserve value.
The company plans to pay down debt and reinvest at maintenance levels, then eventually pay higher returns to equity investors.