The company's capital spending will rise to $5.9 billion next year. Of that, $3.6 billion is earmarked for unconventional prospects in the U.S. and Canada.
Marathon plans to invest $2.3 billion next year in the Eagle Ford Shale of South Texas, where up to 400 new wells will be drilled. The company will put $1 billion into Bakken prospects in North Dakota, and another $236 million toward work in Oklahoma's Woodford basin. Houston-based Marathon has focused on drilling for oil instead of natural gas since 2011, when it exited the refining business.
AZZ Price at posting:
52.0¢ Sentiment: LT Buy Disclosure: Held