Marathon Announces Full Redemption of $900 3.85% Senior Notes Due 2025

Source: www.gulfoilandgas.com 9/7/2021, Location: North America

Marathon Oil Corporation announced that the Company fully redeemed its $900 million aggregate principal amount of 3.85% Senior Notes Due 2025, accelerating the realization of Marathon Oil's previously disclosed gross debt objective of approximately $4.0 billion. This transaction brings total 2021 gross debt reduction to $1.4 billion and will contribute to approximately $50 million of annualized cash interest expense savings.

"This meaningful acceleration of our gross debt reduction objective further enhances our investment grade balance sheet that is foundational to our framework for success," said Chairman, President, and CEO Lee Tillman. "As a result, we will be shifting our return of capital focus to equity holders while still retiring future debt at maturity, fully consistent with our message during our recent second quarter earnings call. We continue to believe that our commitment to a strong balance sheet, ESG excellence, sustainable free cash flow generation, and meaningful return of capital to shareholders is the best approach to maximizing shareholder value in our industry."


Norway >>  5/20/2022 - Equinor announced on 9 February 2022 an ordinary dividend per share of USD 0.20 and an extraordinary dividend per share of USD 0.20 for fourth quarter...
Norway >>  5/19/2022 - Reference is made to the Norwegian Energy Company ASA ("Noreco" or the "Company") convertible bond loan with ISIN NO 0010851520 (the "NOR13 Bonds") is...

Tanzania >>  5/19/2022 - Orca Energy Group Inc. announced that its Board of Directors has declared a quarterly cash dividend of $0.10 (Cdn) per Class A Common Voting Share (“C...
United States >>  5/19/2022 - KBR announced its Board of Directors has declared a regular quarterly dividend of $0.12 per share on the company's common stock, par value $0.001 per ...

United States >>  5/19/2022 - Halliburton Company announced that at its annual meeting of shareholders held in Houston, Texas, on May 18, 2022, the shareholders elected all eleven ...
Gabon >>  5/18/2022 - VAALCO Energy Inc. announced entry into a new credit agreement, effective May 16, 2022, for a new five-year Reserve Based Lending (“RBL”) facility wit...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.