2017 Capital Program Accelerating resource play activity and value within cash flows Total MRO Growth 2.2B capex, 90% to high return U.S. flat 55 WTI resource plays BOED & BOPD STACK strategic objectives driving Oklahoma…
Significant Shift in Capital Allocation Successful portfolio management and strategic decisions driven by returns focus MRO Capital Allocation Portfolio simplification and 100% 7% concentration to U.S. resource 18% 17% 18% 16%…
90% 2017 Capital Allocation to Resource Plays More than doubling capex to high return U.S. resource plays 2016 CAPEX 2017 Planned CAPEX 1.1B 2.2B STACK / Eagle Ford SCOOP 50% Eagle Ford 20% 30% STACK / SCOOP 30% Other 20%…
2017 Capital Allocation Priorities Advancing Oklahoma strategic objectives; Diverse set of high return opportunities 2017 Capital Allocation Priorities Diverse High Return Opportunities STACK STACK leasehold Meramec Oil SL 90% IRR…
Accelerating Value in Oklahoma Resource Basins Leasehold, delineation and downspacing prepare for 2018 full field development Anadarko Basin Stratigraphic Column 800 2017E Capex Increasing activity to avg 10 rigs in Operated D&C…
Eagle Ford Driving Efficiencies at Scale Maintenance levels with free cash flow generation 1,000 2017E Capex Eagle Ford generates significant free cash Operated D&C Other and Non-op D&C flow with avg 6 rig activity level 800 15%…
Bakken Accelerating Highest Value Myrmidon Extending application of successful high intensity completions 2017E Capex Increasing drilling activity avg to 6 rigs in 2017 800 Operated D&C 10% 600 Non-op D&C Other 70 - 75 gross…
2017 Production Guidance Exit rate momentum accelerates growth into 2018 Total MRO Available for Sale Volumes 2017 total E&P annual growth of 5% at Guidance 500 OSM: 40 - 50 the midpoint, divestiture adjusted 377* E&P: 335 - 355…
Marathon Oil Takeaways 2.2B 2017 CAPEX, 90% to high return U.S. resource plays Oklahoma first priority: leasehold, delineation, and downspacing Balanced program across U.S. resource plays Diverse set of high return opportunities…