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 *
CAMPBELL EILEEN M
  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)
Vice President, Public Policy
(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)   7,930 A $ 0 91,569.338 (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) $ 37.818 06/30/2011   J(3)     15,200 06/01/2007(4) 06/01/2016 Common Stock 15,200 $ 0 0 D  
Employee Stock Option (Right to Buy) $ 23.69 06/30/2011   J(3)   14,468   06/01/2009 06/01/2016 Common Stock 14,468 $ 0 14,468 D  
Employee Stock Option (Right to Buy) $ 61.05 06/30/2011   J(3)     15,600 05/30/2008(5) 05/30/2017 Common Stock 15,600 $ 0 0 D  
Employee Stock Option (Right to Buy) $ 38.25 06/30/2011   J(3)   14,852   05/30/2010 05/30/2017 Common Stock 14,852 $ 0 14,852 D  
Employee Stock Option (Right to Buy) $ 54.36 06/30/2011   J(3)     16,500 02/27/2009(6) 02/27/2018 Common Stock 16,500 $ 0 0 D  
Employee Stock Option (Right to Buy) $ 34.06 06/30/2011   J(3)   15,697   02/27/2011 02/27/2018 Common Stock 15,697 $ 0 15,697 D  
Employee Stock Option (Right to Buy) $ 23.82 06/30/2011   J(3)(7)     27,000 02/25/2010(8) 02/25/2019 Common Stock 27,000 $ 0 0 D  
Employee Stock Option (Right to Buy) $ 14.92 06/30/2011   J(3)(7)   31,494   02/25/2011(9) 02/25/2019 Common Stock 31,494 $ 0 31,494 D  
Employee Stock Option (Right to Buy) $ 29.17 06/30/2011   J(3)(7)     32,600 02/24/2011(10) 02/24/2020 Common Stock 32,600 $ 0 0 D  
Employee Stock Option (Right to Buy) $ 18.28 06/30/2011   J(3)(7)   45,045   02/24/2011(11) 02/24/2020 Common Stock 45,045 $ 0 45,045 D  
Employee Stock Option (Right to Buy) $ 49.18 06/30/2011   J(7)     22,400 02/23/2012(12) 02/23/2021 Common Stock 22,400 $ 0 0 D  
Employee Stock Option (Right to Buy) $ 30.81 06/30/2011   J(7)   35,695   02/23/2012(13) 02/23/2021 Common Stock 35,695 $ 0 35,695 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
CAMPBELL EILEEN M
C/O MARATHON OIL CORPORATION
5555 SAN FELIPE ROAD
HOUSTON, TX 77056
      Vice President, Public Policy  

Signatures

 Yvonne R. Kunetka, Attorney-in-Fact for Eileen M. Campbell   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 10.561 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 June 1, 2007, 2008 and 2009, respectively.
(5) Vested in cumulative installments on May 30, 2008, 2009 and 2010, respectively.
(6) Vested in cumulative installments on February 27, 2009, 2010 and 2011, respectively.
(7) 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.
(8) Vests in cumulative annual installments of 18,000 and 9,000 shares on February 25, 2011 and 2012, respectively.
(9) Vests in cumulative annual installments of 17,133 and 14,361 shares on February 25, 2011 and 2012, respectively.
(10) Vests in three cumulative annual installments of 10,866, 10,867 and 10,867 shares on February 24, 2011, 2012, and 2013, respectively.
(11) Vests in three cumulative annual installments of 10,347, 17,349 and 17,349 on February 24, 2011, 2012, and 2013, respectively.
(12) Vests in three cumulative annual installments of 7,466, 7,467 and 7,467 on February 23, 2012, 2013, and 2014, respectively.
(13) Vests in three cumulative annual installments of 11,897, 11,899 and 11,899 on February 23, 2012, 2013, and 2014, respectively.

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