Marathon Oil still considering splitting into two publicly traded companies

By Lisa Kerner

Charlotte, N.C., Dec. 11 - Marathon Oil Corp.'s board of directors is continuing to evaluate a possible separation of Marathon Oil into two independent, publicly traded companies.

It was previously reported that one company would consist of Marathon's exploration and production, integrated gas and oil sands mining businesses, while the other would consist of the company's refining, marketing and transportation business.

In July, the company announced it had been evaluating a split for several months.

"Our review thus far indicates that a separation of the businesses may enhance shareholder value, however, the recent extreme volatility in the capital and commodity markets requires further evaluation before a decision can be reached," president and chief executive officer Clarence P. Cazalot Jr. said in a company news release.

"Concluding this evaluation remains a high priority with timing of a decision largely dependent on external market factors."

According to Cazalot, the Houston-based integrated energy company is in a strong financial and operational position.

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