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Marathon Ramping Up Rigs in Delaware Basin, MidCon; Talks Plans for New Asset
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Marathon released its Q1 2017 results and highlights from its release / conference call include:
Rig Increases Planned - (up from 12 at year-end 2016):
Northern Delaware: Running at three rigs by mid-year Mid-Continent: 11 rigs by Q2 Eagle Ford: Maintaining 6 rigs through 2017 Bakken: 7 rigs since December 2016In the conference call, CEO Lee Tillman commented: "We're still on plan to see this growth increase in the back half of the year, with anticipated exit production rates 20% to 25% higher than 2015. We've also raised our full-year E&P production guidance by 5,000 boe per day and successfully ramped activity to 20 drilling rigs during first quarter from 12 rigs at year-end and we currently standard at 22 active rigs inclusive of our rig in Northern Delaware."
Plans for new assets…
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