Marathon Oil Corporation (NYSE: MRO), at its Analyst Day in New York today, is providing investors with a comprehensive report on the Company’s global operations, including a review of strategic plans to achieve profitable growth and competitive returns for shareholders.

“When you look at the three priorities for our 2014 business plan – accelerating our rig activity in three of the highest-value domestic resource plays, marketing our North Sea assets and increasing our share repurchase authorization – we believe they definitively reinforce our stated strategy of creating long-term shareholder value and a commitment to rigorous portfolio management integrated with robust capital allocation,” said Marathon Oil President and CEO Lee Tillman.

“Our continued focus on operations and execution excellence across all our assets will help drive approximately 10 percent production growth in 2013, excluding Alaska and Libya. We believe this standard of performance, coupled with continued resource growth, fully supports an accelerated investment in our three high-quality resource plays — the Eagle Ford, Bakken and Oklahoma Woodford. This increased activity underpins our confidence in delivering approximately 4 percent year-on-year growth in overall 2014 volumes, excluding Alaska, Angola and Libya.

“Additionally, the marketing of our North Sea assets represents another example of our ongoing commitment to portfolio management. In the past three years, we have closed or agreed upon nearly $3.5 billion in non-core asset divestitures, surpassing the upper end of our stated $1.5 to $3 billion target. Our plan to market our assets in the UK and Norway provides an option to simplify and concentrate our portfolio while increasing our growth rate and accelerating cash flows. This, in turn, presents an opportunity to redeploy capital for long-term value creation for our shareholders.

“To that end and to provide financial optionality as we head into 2014, we’ve secured authorization from our board of directors to increase our remaining share repurchase authorization to $2.5 billion.

“Marathon Oil has demonstrated its ability to execute on its strategy and deliver results – an essential element to becoming the industry’s premier independent exploration and production company. With dedicated employees across the globe and a steadfast commitment to safe, responsible operations, skillful execution and delivering industry-leading results will remain our focus in 2014 and beyond,” Tillman added.