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Since 1887, Marathon Oil Corporation has been making energy history. The following is a timeline tracking the Company’s growth and evolution as a leader in worldwide energy innovations.
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1887
The Ohio Oil Company is founded under the leadership of president Henry M. Ernst in northwestern Ohio-the country’s leading center for crude oil production at this time. "The Ohio" becomes the largest oil producer in the state.
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1889
John D. Rockefeller’s Standard Oil Trust purchases The Ohio.
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1905
The company moves its headquarters from Lima, Ohio, to Findlay, Ohio.
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1908
Establishing itself as a major pipeline company, The Ohio now controls one half of the field production in three states.
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1911
The Ohio resumes independent operation following the dissolution of the Standard Oil monopoly, as a result of Teddy Roosevelt’s trust busting campaign. James C. Donnell becomes president of the company.
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1915
The Ohio assigns 1,800 miles of pipeline, as well as gathering and storage facilities, to the newly acquired Illinois Pipe Line Company.
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1924
The Ohio purchases the Lincoln Oil Refining Company to better integrate and develop crude oil outlets.
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1926
The Ohio discovers the Yates Field in West Texas. The Ohio forms the Ohio-Mexico Oil Company to manage seven concessions in northern Mexico.
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1930
The Ohio purchases the Transcontinental Oil Company, acquiring the Marathon product name, the Pheidippides Greek runner trademark, and the "Best in the long run" slogan. The Ohio Oil Company’s stock is publicly traded on the New York Stock Exchange for the first time.
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1931
Drilling discoveries in Mexico result in The Ohio’s first international natural gas production.
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1943
The Ohio dissolves the Illinois Pipe Line Company and creates its own internal pipeline department. The Ohio begins prospecting in Canada and Guatemala.
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1948
Amerada, Conoco and The Ohio Oil Company combine to form the Conorado Petroleum Corporation to identify geologically promising production sites worldwide.
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1949
Drilling discoveries in Alberta, Canada, result in The Ohio’s first international oil production.
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1959
The Ohio purchases the Aurora Gasoline Company, taking the company’s gasoline sales beyond the national industry average. The Ohio’s pipeline department forms Marathon Pipe Line Company. The company opens an office in the United Kingdom to handle interests in the Eastern Hemisphere.
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1961
Following the discovery of the Kenai natural gas field in 1959, The Ohio begins supplying natural gas to Anchorage, the largest city in Alaska.
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1962
In celebration of its 75th anniversary, The Ohio changes its name to Marathon Oil Company in honor of its brand-name motor fuel and launches its new logo design. Marathon Oil Company acquires Plymouth Oil Company, launching the company into the wholesale gasoline business. Marathon, Amerada Hess and Conoco form The Oasis Group and achieve world-class commercial oil discoveries in Libya’s Sirte Basin.
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1965
Pioneers in the region, Marathon discovers the McArthur River oilfield in the Cook Inlet region-fully establishing the company in the state of Alaska.
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1967
Marathon Oil Company leads the development of the world’s first ocean tankers specially designed to transport liquefied natural gas (LNG). Exports of LNG to Japan begin in 1969.
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1971
Marathon discovers the Kinsale Head natural gas field offshore Ireland. Production from two platforms begins in the late 1970s, providing Ireland with its first indigenous source of natural gas to date.
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1976
Marathon purchases international exploration and production company, Pan Ocean Oil Corporation, gaining assets in the United Kingdom, Nigeria, Norway and Indonesia.
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1977
To meet the fuel demands of modern catalytic-converter equipped cars, Marathon Oil Company acquires a new refinery in Garyville, Louisiana, the nation’s first grassroots refinery in more than a decade.
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1982
Marathon Oil Company becomes a wholly owned subsidiary of the United States Steel Corporation.
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1983
Marathon’s Brae A platform in the South Brae Field comes onstream in the North Sea, beginning production in the United Kingdom.
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1984
Marathon Oil Company acquires the exploration and production properties of Husky Oil, a premier producer in the state of Wyoming.
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1985
The Yates Field produces its billionth barrel of oil.
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1986
As a result of large-scale restructuring, the United States Steel Corporation changes its name to USX Corporation, which includes the Marathon Group and United States Steel LLC. Marathon brings the KH Field in Indonesia’s offshore Kakap Block onstream.
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1990
Marathon establishes its headquarters in Houston, Texas.
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1998
Marathon and Ashland Inc. form Marathon Ashland Petroleum LLC (MAP), a joint venture combining the companies’ refining, marketing and transportation businesses. At the end of its start-up year, MAP emerges as one of the foremost firms in the downstream sector of the American petroleum industry. Marathon also adds Canadian assets through its acquisition of Tarragon Oil & Gas Ltd.
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2001
Marathon acquires Pennaco Energy adding a leading coal bed methane asset and expanding its natural gas resources in North America. The USX Corporation’s Board of Directors vote to separate the Marathon Group and United States Steel LLC and re-establish them as two independent companies.
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2002
Marathon Oil Corporation established as a standalone company trading on the New York Stock Exchange under the symbol MRO. Marathon acquires CMS Energy’s assets in Equatorial Guinea.
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2003
Marathon acquires Khanty Mansiysk Oil Corporation (KMOC), forming the basis for a new core area in Russia.
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2005
Marathon becomes 100 percent owner of Marathon Ashland Petroleum LLC. Marathon Ashland Petroleum LLC changes name to Marathon Petroleum Company LLC.
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2006
Marathon finalizes plans for $3.2 billion Garyville, Louisiana, refinery expansion that will increase plant’s capacity by 180,000 barrels per day. When completed in late 2009, Marathon will supply an additional 7.5 million gallons of clean transportation fuels to the market each day.
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2007
Marathon completes its acquisition of Western Oil Sands Inc. through a cash and securities transaction of approximately US$5.8 billion, plus Western's outstanding debt valued at approximately US$1.1 billion, for a total transaction value of US$6.9 billion.
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