Marathon Oil has maintained its full-year development capital expenditure target of $2.4 billion despite reporting a large drop in profit and revenue in the first quarter.
The US independent made a net profit of $174 million in the period, down from $356 million a year earlier.
On an adjusted basis – adjusting from items like gains or losses from assets sales and derivatives instruments – the net income rose, however, to $256 million from $154 million a year ago.
