1、Dear Fellow Shareholders,We are pleased to report that the Marathon Oil global team continued to deliver solid operational and financial results and long-term shareholder value during 2013.These achievements were driven by a relentless focus on fundamentals and consistent execution of our strategic
2、business plans.This year also marked the transition of Marathon Oils leadership upon the retirement of Clarence P.Cazalot,Jr.Clarence led the Company for 14 years as president and CEO,adding the duties of chairman of the board with the spin-off of our Downstream businesses in 2011.We appreciate and
3、thank Clarence for his leadership.We also appreciate the Board of Directors confidence in our respective appointments to president and CEO,and to non-executive chairman of the board.We are grateful for the continued trust of our shareholders in our leadership team and in all our employees to profita
4、bly and responsibly grow Marathon Oil.Strategic imperatives drive business growthOur stated goal is to be recognized as the premier independent exploration and production(E&P)company,and to accomplish this,we must excel against seven strategic imperatives.These imperatives begin with an uncompromisi
5、ng focus on our core values to protect our license to operate and drive business performance.We believe our differentiated safety performance promotes Marathon Oil as a partner and operator of choice.A safe business is a well-run business.Our human capital is our most important resource,and we will
6、invest in our people,capabilities and competencies to ensure shareholders access to the full global opportunity set.Relentless pursuit of operational and capital efficiencyDuring 2013,we delivered 97 percent reliability in our operated assets,significantly contributing to production growth,income an