Following the oil price collapse, Marathon Oil Corporation made a strategic decision to simplify and concentrate its portfolio on lower-cost, higher-margin US resource plays. Its portfolio has undergone deep restructuring, with most conventional, international assets being offloaded, and capital recycled into tight oil acquisitions. Conventional exploration has largely been dropped as a growth option. The company now has exposure to the four leading US tight oil plays – the Eagle Ford, Bakken, Mid-Continent and the Permian – all of which compete for capital following operating performance improvements and cost reductions achieved through the downturn. As the company continues to focus on these plays, its conventional exploration going forwards is effectively limited to fulfilling its commitments, primarily in the US GoM and West Africa. Full details are provided in our report, and all data and analysis can be downloaded in excel and pdf format.