Marathon Oil narrows loss, cuts capex

U.S. oil and gas company Marathon Oil tightened its net loss for the second quarter and reduced capex for the year. 

On Wednesday, the oil company reported a second quarter 2017 net loss of $139 million, compared to $170 million net loss in the prior-year quarter.

The result for this year’s quarter includes the impact of certain items not typically represented in analysts’ earnings estimates and that would otherwise affect comparability of results. The adjusted net loss was $145 million.

The company’s total revenues decreased for the quarter and amounted to $1.059 billion compared to $1.103 billion in the same period last year.

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