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Bakken, STACK E&P IDs 2017 Capex of $2.2B; Up 100% YOY
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Marathon Oil has planned a 2017 capital program of $2.2 billion with over 90 percent allocated to its high return U.S. resource plays.
Key Points: 2017 capital budget of $2.2 billion (a +100% increase from its 2016 budget of $1.1 billion). A total of $2.0 billion will be spent exclusively on U.S. resource plays Plans to run a total of 22 rigs Complete 315-345 gross wellsRig / Well Plans:
STACK: The Company plans to increase its Oklahoma rig count to average approximately 10 rigs, while bringing 90 to 100 gross Company-operated wells to sales.
Eagle Ford: In the Eagle Ford, the Company expects to maintain a six-rig drilling program and bring 155 to 170 gross Company-operated wells to sales.
Bakken: Marathon Oil expects to average approximately six drilling rigs in the Bakken in…
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