Marathon Oil Corp was incorporated in 2001. It is an independent global exploration and production company based in Houston, Texas, with operations in North America, Europe and Africa. Its three reportable operating segments are North America E&P, International E&P and Oil Sands Mining. North America E&P explores, produces and markets crude oil and condensate, NGLs and natural gas in North America. International E&P explores, produces and markets crude oil and condensate, NGLs and natural gas outside of North America and produces and markets products manufactured from natural gas, such as LNG and methanol, in E.G. Oil Sands Mining segment mines, extracts and transports bitumen from oil sands deposits in Alberta, Canada, and upgrades the bitumen to produce and market synthetic crude oil and vacuum gas oil. The Company competes with integrated and independent oil and gas companies, as well as national oil companies for the acquisition of oil and natural gas leases.