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DENVER-In another blow to the already struggling economy, Marathon Oil plans to close its Denver office. Marathon plans to close its office in Lower Downtown at 16th and Market streets, where it leases about 15,000 sf in a Class A building. A total of 51 employees will either lose their jobs or be offered a transfer to Houston, where Marathon Oil is based.

Marathon, the nation’s fourth-largest oil company, is cutting a total of 265 jobs across the country, a move that will save it more than $65 million per year.

In addition to Denver, it is shutting down operations or will reduce work forces in Wyoming, Oklahoma, Texas, Louisiana and Alaska.

This is not the first time Marathon has made cutbacks in the Denver area. In 2000, in Littleton, it closed its 80-acre research and development center at South Broadway and Dry Creek Road. Now, D.R. Horton is planning a residential and retail center on the site.

Marathon has had a presence in Colorado for about 70 years. It first came here in the 1930s, when it was known as Ohio Oil Co., to drill for natural gas near Craig, CO.

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