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