Marathon Oil (NYSE: MRO) reported Q4 EPS of $0.15, in-line with the analyst estimate of $0.15. Revenue for the quarter came in at $1.77 billion versus the consensus estimate of $1.42 billion.

Fourth Quarter 2018 ResultsMarathon Oil reported fourth quarter 2018 net income of $390 million, or $0.47 per diluted share. Adjusted net income was $121 million, or $0.15 per diluted share. Net operating cash flow was $855 million, or $787 million before changes in working capital.

"2018 was a year of differentiated execution for Marathon Oil," said Chairman, President and CEO Lee Tillman. "While many in our industry talked about capital discipline, we delivered. In 2018, we budgeted conservatively and never wavered, getting more for every dollar of capital we invested. We drove significant improvement to our corporate returns and cash flow per debt adjusted share. Through improving capital efficiency we delivered more oil growth, generated $865 million of organic free cash flow post-dividend, and returned most of that cash back to our shareholders via share repurchases. As we turn to 2019 and beyond, we remain committed to this same framework for success. With the foundation of a peer leading balance sheet and the competitive advantages of our multi-basin portfolio, our 2019 capital program will drive improving corporate returns and generate organic free cash flow above $45 WTI, as we continue to prioritize return of cash to our shareholders."

Production Guidance

For full year 2019, the Company forecasts total oil production growth of 10 percent, with U.S. oil growth of 12 percent, both at the midpoint of guidance and on a divestiture adjusted basis. Oil growth is expected to outpace boe production growth, consistent with a focus on corporate returns. For first quarter 2019, the Company forecasts total oil production of 195 - 215 bopd, with U.S. oil production of 175 - 185 bopd. The first quarter 2019 U.S. production guidance range accounts for extreme weather conditions experienced early in the quarter. The first quarter 2019 International production guidance range reflects a planned triennial shutdown in E.G. to conduct turnaround activity, consistent with prior disclosure. For more specific detail regarding 2019 production guidance, please refer to the guidance tables included within this release.

For earnings history and earnings-related data on Marathon Oil (MRO) click here.