Sunday, September 16, 2018

MRO Update -- September 16, 2018

Disclaimer: this is not an investment site.

Marathon's presentation, Barclays CEO Energy-Power Conference, September 5, 2018, highlights. Full presentation can be found here.

See string of staggering MRO IPs in the Bailey oil field.

What's new?
  • repurchased $250 million of common stock; $1.25 billion of remaining authorization
  • successful Hector Southern extension in the Bakken, with 2-well Lars pad achieving average IP rate of 3,410 bopd
2Q18 earnings recap
  • full year production guidance raise
  • generated about $250 million of organic free cash flow
  • realized sequential growth across all resource plays
  • extended the cor in Eagle Ford and the Bakken
Plays
  • Bakken: averaging 82 mboed (84% oil); 270,000 net surface acres
  • STACK/SCOOP; average 80 mboed (23% oil); > 300,000 net surface acres
  • northern Delaware: averaging 17 mboepd (63% oil); >90,000 net surface acres
  • Eagle Ford: averaging 106 mboed (59% oil); 145,000 net surface acres
Bakken focus
  • oil production up 14% sequentially
  • greater than 100% increase in 90-day cumulative production compared to 2016
  • record-setting Bakken performance: successful Hector southern extension 


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