Marathon Oil (NYSE: MRO) reported Q1 EPS of $0.31, versus $0.07 reported last year. Revenue for the quarter came in at $1.2 billion versus the consensus estimate of $1.25 billion.

"First quarter featured strong execution across our advantaged multi-basin portfolio and was highlighted by solid well productivity and improving well costs in each of our basins," said Chairman, President and CEO Lee Tillman. "We remain fully committed to our well-established framework for success: improving bottom-line corporate returns, generating sustainable free cash flow with an organic break-even of only $45/bbl WTI, prioritizing return of capital to shareholders, and enhancing our capital efficiency and underlying resource base through differentiated execution. We've returned over $90 million to shareholders year-to-date, more than fully funded by organic free cash flow. As we look forward to second quarter, strong April performance underpins our confidence in expected 5% sequential U.S. oil growth. With this significant operational momentum, we expect returns and free cash flow generation to inflect higher while our capital spending plans remain unchanged."

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