uploads///MRO Q EBITDA per boe

Understanding Marathon Oil’s EBITDA Normalized to Production


Sep. 27 2016, Updated 4:05 p.m. ET

Marathon Oil’s EBITDA normalized to production

In 2Q16, Marathon Oil (MRO) reported adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) normalized to total production of ~$6.96 per boe (barrel of oil equivalent), which was ~52% lower than in 2Q15.

Marathon Oil’s adjusted EBITDA normalized-to-total production peaked in 3Q14. In 1Q16, MRO reported the lowest-ever adjusted EBITDA normalized to total production of only ~$2.20 per boe. Sequentially, Marathon Oil’s 2Q16 adjusted EBITDA normalized-to-total production rose ~216% over 1Q16.

For 2Q16, other upstream companies like Murphy Oil (MUR), California Resources (CRC), and Denbury Resources (DNR) have also reported much lower year-over-year adjusted EBITDA normalized for total production.

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