the writings on the wall........ eek
http://seekingalpha.com/article/4011248-marathon-oil-corporation-stock-buy
4 replies (most recent on top)
The board has shown the patience of. Job in allowing this lightweight CEO drain MRO's coffers dry. That they continue to put up with him is simply another manifestation of the crying need to do away with the interlocking boards of directors that are rampant in the oil industry.
https://www.thestreet.com/story/13855725/1/marathon-oil-mro-stock-slips-on-ratings-downgrade-lower-oil-prices.html?puc=yahoo&cm_ven=YAHOO
The article is balanced, noting the healthy balance sheet and ample liquitiy at present but also noting declining production, near term debt maturity and lack of free cash flow. The article also observes that MRO trades at a discount to most peer companies, which motivates the risk of investing.
I am not an accountant, but overall, the article seems fair. Someone with more knowledge than me should fact check though. The future of the company turns on whether the "trade" of Wyoming for more Oklahoma acreage is a good deal. Whille I want to believe it is, I don't honestly know.
Lee is a poor leader despite his fondness for endless blather about "leadership," but that does not automatically mean he has made a poor deal. Cazalot was a great leader but definitely not a great deal maker, and exploration during his time at the helm was generally unsuccessful. Lee may yet do something great for Marathon, but I'd say that the clock is ticking loudly and the Board is not going to be endlessly patient.
And the writing is?