This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Marathon Oil Corporation Reports Fourth Quarter And Full-Year 2012 Results

Additionally, Marathon Oil continues to build infrastructure to support liquid hydrocarbon and natural gas production growth across the Eagle Ford operating area. Approximately 370 miles of gathering lines were installed in 2012, while 12 new central gathering and treating facilities were commissioned, with seven additional facilities in various stages of planning or construction. Marathon Oil also owns and operates the Sugarloaf gathering system, a 42-mile natural gas pipeline through the heart of the Company's acreage in Karnes, Atascosa and Bee counties. The Company currently transports approximately 60 percent of its product by pipeline, with additional contract negotiations and facility designs under way. In 2013, Marathon Oil plans to drill 215-250 net wells (275-320 gross, all Company operated) in the Eagle Ford.

BAKKEN: Marathon Oil averaged production of approximately 35,000 net boed during the fourth quarter compared to 30,000 net boed in the previous quarter. For the month of January, the Company projects average production was approximately 33,000 net boed, down slightly from the previous month because of weather and completion schedules. The Company reached total depth on 18 gross wells during the fourth quarter and brought 18 gross wells to sales. In the fourth quarter Marathon Oil's average time to drill a well was 27 days spud-to-spud, a top-quartile performance in the areas in which Marathon Oil operates. Marathon Oil's Bakken production averages approximately 90 percent crude oil, 5 percent NGLs and 5 percent natural gas. Marathon Oil plans to drill 65-70 net wells (190-220 gross, 60-70 Company operated) in 2013.

OKLAHOMA RESOURCE BASINS: The Company's unconventional production averaged 9,800 net boed during the fourth quarter compared to 9,600 net boed in the previous quarter. During the fourth quarter, five gross wells were brought to sales. For the month of January, the Company projects average production was approximately 12,000 net boed. Marathon Oil's plans call for drilling 15-19 net wells (42-50 gross, 12-14 Company operated) in the Oklahoma Resource Basins in 2013. 

8 of 14

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs