HOUSTON—Like other oil companies operating in an evolving energy sector, Marathon Oil Corp. remains focused on capital discipline as it optimizes development and takes advantage of the optionality that comes with being a multi-basin operator.

Navigating headwinds—whether they are takeaway capacity challenges in the Permian Basin, volatile oil prices or regulatory uncertainty—and having the ability to pivot has become a necessity for oil and gas players in the U.S. shale plays.

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