Rig Count | Top Story | Capital Markets | Drilling Program - Wells | Drilling Activity | Capital Expenditure - 2020 | 2020 Guidance
STACK/SCOOP Operator Cuts Drilling Activity 40%; 35 Wells Planned
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Marathon Oil provided guidance on its 2020 development plan. The company said that it is planning on cutting drilling & completion activity some 40% YOY as NGL and Natrual gas prices continues to take a beating.
The company is also shifting away from the STACK and moving its rigs to the SCOOP. See the image below of rig count by county.
Capital BudgetFull Year 2019 was $600 million
Full Year 2020 is estimated to be $237 million
Drilling / Rig Activity2019 the company ran 7 rigs in 1H and then cut to 4 rigs in 2H.
2020 the company plan to run 3 rigs (Grady 2 and Garvin 1)
Marathon Oil Leasehold Map - Oklahoma
Completion Activity2019 the company completed 58 wells
2020 will see the company complete 35 wells (down -39% year over year)
From the image below you see the company…
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