Marathon Oil Corporation operates as an independent exploration and production company worldwide. The company has operations in North America, Europe and Africa. Segments The company’s segments include North America E&P, International E&P, and Oil Sands Mining. North America E&P segment This segment explores for, produces and markets crude oil and condensate, natural gas liquids (NGLs), and natural gas in North America. The company engages in oil and gas exploration, development and/or production activities in the U.S. and Canada. This segment’s primary focus is concentrated within its unconventional resource plays. Eagle Ford As of December 31, 2015, the company had approximately 153,000 net acres in the Eagle Ford in south Texas and 1,236 gross (911 net) operated producing wells. Of the 276 gross wells brought to sales in 2015, 56 were in the Austin Chalk, 28 were in the Upper Eagle Ford, and 192 were in the Lower Eagle Ford. The company operates approximately 800 miles of gathering pipeline in the Eagle Ford area. The company has 32 central gathering and treating facilities, with aggregate capacity of approximately 475 thousand barrels of oil equivalent per day (mboed). The company also owns and operates the Sugarloaf gathering system, a 42-mile natural gas pipeline through the heart of its acreage in Karnes, Atascosa and Bee counties of south Texas. In 2015, the company connected to a newly constructed third-party liquids pipeline, which allowed the company to increase the amount of its Eagle Ford production transported by pipeline to 90% during 2015. Oklahoma Resource Basins The company’s primary focus in 2016 would be in the SCOOP (South Central Oklahoma Oil Province) and STACK (Sooner Trend, Anadarko (basin), Canadian (and) Kingfisher (counties)) areas. In the SCOOP and STACK areas, the company holds approximately 265,000 net acres with rights to the Woodford, Springer, Meramec, Granite Wash and other Pennsylvanian and Mississippian plays. This includes 8,000 net acres added in the Oklahoma Resource basins, primarily in the STACK Meramec play during 2015. Bakken The company holds approximately 277,000 net acres in the Bakken shale oil play in North Dakota and eastern Montana. The company’s 2016 Bakken program includes plans to drill 10 - 12 net wells (45 - 55 gross, of which the company would operate 8 - 10). The company anticipates bringing 13 - 15 gross operated wells to sales during 2016. Other North America Other North America consists primarily of onshore production operations in Wyoming and development activities in the Gulf of Mexico. In the Gulf, development work continues in the Gunflint field located on Mississippi Canyon Blocks 948, 949, 992 (N/2) and 993 (N/2). The development wells were completed in 2015. First oil is expected in mid-2016 after the completion of work at the third-party Gulfstar 1 host facility. The company holds an 18% non-operated working interest in the Gunflint field. A deepwater oil discovery on the Shenandoah prospect, located on Walker Ridge Block 51, was drilled in 2009. The company owns a 10% non-operated working interest in this prospect. Wyoming: The company has ongoing waterflood and enhanced oil recovery projects in the mature Big Horn and Wind River Basins. The company also has conventional natural gas operations in the Greater Green River Basin. The company’s Wyoming net sales averaged 17 thousand barrels per day of liquid hydrocarbons and 4 million cubic feet per day (mmcfd) of natural gas, or 17 mboed, during 2015. In addition, the company owns the 420-mile Red Butte Pipeline, which connects oil fields in the Big Horn Basin to both the Silvertip Station on the Montana/Wyoming state line and to alternate outlets in Casper, Wyoming. Exploration The company holds interests in both operated and non-operated exploration stage oil sand leases in Alberta, Canada, which could be developed using in-situ methods of extraction. These leases cover approximately 142,000 gross (54,000 net) acres in four project areas, such as Namur, in which the company holds a 70% operated interest; Birchwood, in which the company holds a 100%
marathon oil corp
(MRO:New York Consolidated)
5555 San Felipe Street
Houston, TX 77056
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