=Marathon Oil (MRO) reported earnings on Wed 2 Nov 2016 (a/h)

• Shares up on revenue beat, plans to increase activity to 5 rigs in Q4 in the Oklahoma Resource Basins.

HOUSTON (AP) _ Marathon Oil Corp. (MRO) on Wednesday reported a loss of $192 million in its third quarter.

On a per-share basis, the Houston-based company said it had a loss of 23 cents. Losses, adjusted for one-time gains and costs, came to 11 cents per share.

The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 19 cents per share.

The energy company posted revenue of $1.23 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $1.09 billion.

Marathon Oil shares have climbed 1.5 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed roughly 3 percent. In the final minutes of trading on Wednesday, shares hit $12.78, a decline of 33 percent in the last 12 months.