OREANDA-NEWS. November 13, 2014. Marathon Oil Corporation (NYSE:MRO) today reported third quarter 2014 adjusted income from continuing operations of USD 388 million, or USD 0.57 per diluted share, and adjusted net income of USD 515 million, or USD 0.76 per diluted share, both excluding the impact of certain items not typically represented in analysts' earnings estimates, and that would otherwise affect comparability of results.

Reported income from continuing operations was USD 304 million, or USD 0.45 per diluted share, and reported net income was USD 431 million, or USD 0.64 per diluted share.

Key Quarterly Highlights

Three high-quality U.S. resource plays averaged net production of 192,000 boed, up 43% from the year-ago quarter and 13% higher than the second quarter of 2014. On track for greater than 30% production growth year-over-year as supported by:

Continued strong pace in the Eagle Ford with a record 87 gross operated wells to sales, up 14% quarter-on-quarter

Eight gross operated Austin Chalk wells brought to sales during the quarter, all within the previously delineated acreage; 16 additional wells being drilled, completed or awaiting first production

Nineteen gross operated Bakken wells brought to sales of which eight are piloting enhanced completions with encouraging early results

Incremental drilling rig added in the Bakken as of late September to provide additional capacity for high-density spacing and enhanced completion pilots

Six gross operated wells brought to sales in the Oklahoma Resource Basins, of which four were in the SCOOP and two in the Southern Mississippi Trend; best operated well to date with 30-day IP rate of 2,800 boed (55% liquids)

Executed agreements in late October to add approx. 12,000 net acres to SCOOP position, including prospective acres for the Springer formation

Began drilling the Company-operated Key Largo exploration well in the Gulf of Mexico

Recorded 96% average operational availability for Company-operated assets

Closed sale of the Norway business on Oct. 15 for approximately USD 2.1 billion in proceeds