Edition:
United Kingdom

Marathon Oil announces 2017 capital program


Wednesday, 15 Feb 2017 

Marathon Oil Corp : Marathon Oil Corp announces 2017 capital program; accelerating activity and raising long-term growth rates for U.S. resource plays . Marathon Oil Corp says announcing 10 % - 12% total company CAGR, excluding Libya for 2017 . Announced 2017 capital program of $2.2 billion with over 90 percent allocated to its high return U.S. resource plays . Marathon Oil Corp says plans to increase its Oklahoma rig count to average approximately 10 rigs, while bringing 90 to 100 gross company-operated wells to sales . Marathon Oil Corp says for Q1 2017, North America E&P production guidance is expected to average 195,000 to 205,000 net boed . Marathon Oil Corp says in Bakken, plans to focus on its highest return west and east myrmidon areas where it completed several basin-leading wells in 2016 . OSM synthetic crude oil production is expected to range from 45,0000 to 50,000 net bbld in Q1 2017 . Marathon Oil Corp says for 2017, sees production available for sale from North America, international E&P units, excluding Libya, 335,000 to 355,000 net boed . Marathon Oil Corp says for Q1 2017 international E&P is expected to average 120,000 to 125,000 net boed, excluding Libya .Marathon Oil Corp says expects to average approximately six drilling rigs in Bakken in 2017.