Top Story | Capital Markets | Drilling Program - Wells | Drilling Program | Capital Expenditure - 2020 | 2020 Guidance
Operator Ups Eagle Ford Drilling, Bakken & Permian; 320 Wells
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Marathon Oil provided a look into its 2020 development plan.
The program calls for 320 Wells completed in 2020 vs 335 in 2019, representing a 4% decline. The company has however slowed Oklahoma/STACK/SCOOP operations. We see a 40% decline in well activity/drilling program for 2020.
Drilling Program/ Wells Completed & Frac'd Capital Budget /The budget program (development capex) calls has been reduced 8%, and total capex down -11%. Again, we see that the company reduced STACK/SCOOP capital by 61% year over year, which is reflected in the wells online above, down -40%. The Bright spot will be the Eagle ford, where the company is increasing activity, all while reducing Permian capital as well.
ProductionThe company is guiding that total company production will be flat…
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