Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
REINBOLT PAUL C
  2. Issuer Name and Ticker or Trading Symbol
MARATHON OIL CORP [MRO]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
V.P., Finance and Treasurer
(Last)
(First)
(Middle)
C/O MARATHON OIL CORPORATION, 5555 SAN FELIPE ROAD
3. Date of Earliest Transaction (Month/Day/Year)
06/30/2011
(Street)

HOUSTON, TX 77056
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Marathon Oil Corporation Common Stock 06/30/2011   J(1)   5,187 A $ 0 54,653.147 (2) D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (Right to Buy) $ 23.825 06/30/2011   J(3)     25,000 05/25/2006(4) 05/25/2015 Common Stock 25,000 $ 0 0 D  
Employee Stock Option (Right to Buy) $ 14.93 06/30/2011   J(3)   23,804   05/25/2008 05/25/2015 Common Stock 23,804 $ 0 23,804 D  
Employee Stock Option (Right to Buy) $ 37.818 06/30/2011   J(3)     11,400 06/01/2007(5) 06/01/2016 Common Stock 11,400 $ 0 0 D  
Employee Stock Option (Right to Buy) $ 23.69 06/30/2011   J(3)   10,851   06/01/2009 06/01/2016 Common Stock 10,851 $ 0 10,851 D  
Employee Stock Option (Right to Buy) $ 61.05 06/30/2011   J(3)     9,000 05/30/2008(6) 05/30/2017 Common Stock 9,000 $ 0 0 D  
Employee Stock Option (Right to Buy) $ 38.25 06/30/2011   J(3)   8,568   05/30/2010 05/30/2017 Common Stock 8,568 $ 0 8,568 D  
Employee Stock Option (Right to Buy) $ 54.36 06/30/2011   J(3)     7,800 02/27/2009(7) 02/27/2018 Common Stock 7,800 $ 0 0 D  
Employee Stock Option (Right to Buy) $ 34.06 06/30/2011   J(3)   7,420   02/27/2011 02/27/2018 Common Stock 7,420 $ 0 7,420 D  
Employee Stock Option (Right to Buy) $ 23.82 06/30/2011   J(3)(8)     18,800 02/25/2010(9) 02/25/2019 Common Stock 18,800 $ 0 0 D  
Employee Stock Option (Right to Buy) $ 14.92 06/30/2011   J(3)(8)   21,929   02/25/2011(10) 02/25/2019 Common Stock 21,929 $ 0 21,929 D  
Employee Stock Option (Right to Buy) $ 29.17 06/30/2011   J(3)(8)     20,100 02/24/2011(11) 02/24/2020 Common Stock 20,100 $ 0 0 D  
Employee Stock Option (Right to Buy) $ 18.28 06/30/2011   J(3)(8)   27,772   02/24/2011(12) 02/24/2020 Common Stock 27,772 $ 0 27,772 D  
Employee Stock Option (Right to Buy) $ 49.18 06/30/2011   J(8)     14,300 02/23/2012(13) 02/23/2021 Common Stock 14,300 $ 0 0 D  
Employee Stock Option (Right to Buy) $ 30.81 06/30/2011   J(8)   22,787   02/23/2012(14) 02/23/2021 Common Stock 22,787 $ 0 22,787 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
REINBOLT PAUL C
C/O MARATHON OIL CORPORATION
5555 SAN FELIPE ROAD
HOUSTON, TX 77056
      V.P., Finance and Treasurer  

Signatures

 Yvonne R. Kunetka, Attorney-in-Fact for Paul C. Reinbolt   07/05/2011
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) In connection with the spin-off of Marathon Petroleum Corporation on June 30, 2011 by Marathon Oil Corporation ("MRO"), MRO restricted stock awards of MRO officers or employees, who continued as officers or employees of MRO immediately after the spin-off, were replaced with adjusted MRO restricted stock awards, each of which will generally preserve the value of the original award determined as of the distribution date.
(2) Includes dividends of 11.854 shares previously not reported pursuant to Rule 16a-11.
(3) In connection with the spin-off of Marathon Petroleum Corporation ("MPC") on June 30, 2011 by Marathon Oil Corporation ("MRO"), outstanding MRO stock options that are vested, whether held by a current or former officer or employee of MRO or MPC were adjusted, so that the holders hold stock options to purchase both MRO common stock and MPC common stock. The MRO and MPC stock options received, when combined, will generally preserve the instrinsic value of each original stock option grant and the ratio of the exercise price to the fair market value of MRO common stock on the distribution date.
(4) Vested in cumulative installments on May 25, 2006, 2007 and 2008, respectively.
(5) Vested in cumulative installments on June 1, 2007, 2008 and 2009, respectively.
(6) Vested in cumulative installments on May 30, 2008, 2009 and 2010, respectively.
(7) Vested in cumulative installments on February 27, 2009, 2010 and 2011, respectively.
(8) In connection with the spin-off of Marathon Petroleum Corporation on June 30, 2011 by Marathon Oil Corporation ("MRO"), outstanding MRO stock options that are not vested and are held by MRO officers or employees, who continued as officers or employees of MRO immediately after the spin-off, were replaced with adjusted MRO stock options to purchase MRO common stock, which will generally preserve the intrinsic value of each original stock option grant and the ratio of the exercise price to the fair market value of MRO common stock on the distribution date.
(9) Vests in cumulative annual installments of 12,533 and 6,267 shares on February 25, 2011 and 2012, respectively.
(10) Vests in cumulative annual installments of 11,929 and 10,000 shares on February 25, 2011 and 2012, respectively.
(11) Vests in three cumulative annual installments of 6,700, 6,700 and 6,700 on February 24, 2011, 2012, and 2013, respectively.
(12) Vests in three cumulative annual installments of 6,380, 10,696 and 10,696 on February 24, 2011, 2012, and 2013, respectively.
(13) Vests in three cumulative annual installments of 4,766, 4,767 and 4,767 on February 23, 2012, 2013, and 2014, respectively.
(14) Vests in three cumulative annual installments of 7,595, 7,596 and 7,596 on February 23, 2012, 2013, and 2014, respectively.

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