Marathon Oil Corp. (NYSE: MRO) raised its annual production forecast on Aug. 1, after a surge in U.S quarterly output helped the oil producer top its own estimates.

The Houston-based company bumped up its annual total production forecast to between 400,000 and 415,000 net barrels of oil equivalent per day (boe/d) from an earlier range of 390,000 to 410,000 net boe/d.

The company produced 298,000 boe/d in the second quarter ended June 30, compared with its May forecast of between 280,000 and 290,000 boe/d.

Marathon Oil reported net income of $96 million, or 11 cents per share, in the quarter, compared with a net loss of $139 million, or 16 cents per share, a year earlier.

Total production rose to 419,000 boe/d from 349,000 boe/d.

Marathon's portfolio includes assets throughout the Bakken, Eagle Ford, Permian and Stack/Scoop shale plays.