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Marathon Unveils $2.2 Billion 2017 Capital Program

On February 15, 2017, Marathon Oil Corporation (NYSE: MRO) announced results from Q4 and FY 2016 and unveiled a 2017 capital program of $2.2 billion, with over 90 percent allocated to its high-return U.S. resource plays.


On the operations side, Marathon’s production averaged 341,000 BOED in Q4 2016, with assets in the Oklahoma Resource Basins reporting a production increase of 60% over Q4 2015. E&P production costs for North America were down more than 30% from Q4 2015.

MRO Cost ReductionSource: Marathon Oil Investor Presentation

On the activity side, Marathon increased its resource play rig count from 8 to 12 and reached total depth on its first company-operated Meramec spacing pilot. Despite increased completion intensity in Eagle Ford, the company reported record-low well costs in the region. [read more]

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