MROs Higher Density Pilots -- December 21, 2014

Back in January, 2014, I posted links to CLR's density projects.

A reader sent me the link to MRO's recent corporate presentation. Marathon also has four (4) operated high density pilots in three major areas: its Myrmidon, Hector, and Ajaz prospects. From my "Snapshot" page:

• Myrmidon: northwest corner of the reservation
• Marfa: MRO's largest area; southwest of the reservation; borders the reservation, Dunn County -- Marfa DOES NOT show up on most recent presentation
• Hector: eastern area of Marfa, just outside of the reservation, Dunn County
• Ajax: continuation of Marfa, southwest of Marfa, Dunn County

Myrmidon:

• Brodahl Pilot: 6 x MB; 6 x TF1, 4Q14 spud
• TAT USA 34 Pilot: 6 x MB, 6 x TF2, 6 x TF2, 1Q15 spud

Hector:

• Lucy Fleckenstein Pilot: 6 x MB, 6 x TF1, spud August 2014

Ajax:

• Hecker Pilot: 6 x MB, 4Q14 spud

By the way, if you do visit slide 14 at the linked presentation above, the slide says the Myrmido IRR is greater than 60% BFIT.  BFIT: Profit is the amount of revenue remaining after payment of royalty, operating costs, investments, and taxes, including income taxes. A distinction is often made between before-income tax (BFIT) profit and after-income tax (AFIT) profit for analysis purposes.