Company: Marathon Oil Company

Founder: Henry M. Ernst

Industry: Oil and Natural Gas / Energy

History:

Henry M. Ernst founded The Ohio Oil Company in 1887.Two years later the enterprise was purchased by Standard Oil Trust, a company owned by John D. Rockefeller. For twelve years, Ohio Oil was a part of the company until it split and operated separately. In 1930, Ohio Oil acquired Transcontinental Oil Company, owner of the Marathon brand. Not until 32 years later did Ohio Oil change its name to Marathon Oil Company, after its flagship product name.

Over the years, Marathon Oil expanded through acquisitions of other companies and drilling explorations outside United States. Listed below are several drill locations explored and developed by Marathon Oil:

• Mexico, 1931
• Alberta, Canada, 1949
• Kenai, Alaska, 1961
• Cook Inlet, Alaska, 1965
• Kinsale Head, Ireland, 1971

Mobil sought to buy Marathon Oil in 1981 but it was United States Steel who bought the company in 1982. The company headquarters was relocated to Houston Texas in 1990, but facilities in Findlay, Ohio remained in operation.

In 1998, Marathon Oil and Ashland, Inc. formed the Marathon Ashland Petroleum LLC. This move further expanded Marathon Oil’s base in the United States since Ashland primarily operated in the Upper Plains, the Midwest regions, and the southwestern United States.

In 2001, USX, the company that held both Marathon Oil and United States Steel, sold the steel firm to shareholders and shifted its attention to oil production and distribution. The company was named Marathon Oil Corporation.

Presently, Marathon Oil maintains facilities in Robinson, Illinois; Canton, Ohio; Detroit, Michigan; Garyville, Louisiana; Catlettsburg, Kentucky; Texas City, Texas and St. Paul Park, Minnesota. Marathon Oil also continues to probe for oil reserves in the following countries aside from the United States: Norway, Equatorial Guinea, Angola and Canada.

Leadership:

Marathon Oil Board of Directors

• Charles F. Bolden Jr. – Chief Executive Officer—JackandPanther LLC
• Gregory H. Boyce – Chairman and Chief Executive Officer—Peabody Energy Corporation
• Clarence P. Cazalot Jr. – President and Chief Executive Officer—Marathon Oil Corporation
• David A. Daberko – Retired Chairman of the Board—National City Corporation
• William L. Davis – Retired Chairman, President and Chief Executive Officer—R.R. Donnelley & Sons Company
• Dr. Shirley Ann Jackson – President—Rensselaer Polytechnic Institute
• Philip Lader – Non-Executive Chairman—WPP Group plc
• Charles R. Lee – Retired Non-Executive Chairman of the Board—Verizon Communications Inc.
• Dennis H. Reilley – Chairman of the Board—Covidien Ltd.
• Seth E. Schofield – Retired Chairman and Chief Executive Officer—USAir Group
• John W. Snow – Chairman—Cerberus Capital Management, L.P.,
• Thomas J. Usher – Non-Executive Chairman of the Board—Marathon Oil Corporation

Trivia: Marathon is the sponsor of Kyle Petty (#45) in the NASCAR Sprint Cup series.