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Scotia Howard Weil 45th Annual Energy Conference – Marathon Oil Corp

Marathon Oil Corp · Mar 27, 2017 · 13 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Scotia Howard Weil 45th Annual Energy Conference – Marathon Oil Corp – slide 1
    Scotia Howard Weil Energy Conference Lee Tillman President & Chief Executive Officer March 27, 2017
  2. Scotia Howard Weil 45th Annual Energy Conference – Marathon Oil Corp – slide 2
    Marathon Oil Playbook Profitable growth Simplifying within and cash flows Relentless concentrating focus on portfolio Strengthened costs balance sheet 3
  3. Scotia Howard Weil 45th Annual Energy Conference – Marathon Oil Corp – slide 3
    Significant Capital Allocation Shift to Resource Plays Successful portfolio management and strategic decisions driven by returns A&D Since 2016 3.8B Divestitures Continued portfolio shift to lower 2.7B cost, higher margin U.S.…
  4. Scotia Howard Weil 45th Annual Energy Conference – Marathon Oil Corp – slide 4
    Diverse High Return Opportunities Material position in four of the best oil rich U.S. resource plays Bakken 2017 Capital Allocation Priorities West Myrmidon: 90% IRR East Myrmidon: 50% IRR STACK / N. Delaware leasehold…
  5. Scotia Howard Weil 45th Annual Energy Conference – Marathon Oil Corp – slide 5
    Permian Acquisitions Summary Combined 91,000 acres in Permian basin at 18,400 / acre Competes at top of MROs organic portfolio Quality Outstanding recent offset well performance Primary oil targets in world-class Wolfcamp and Bone…
  6. Scotia Howard Weil 45th Annual Energy Conference – Marathon Oil Corp – slide 6
    N. Delaware - Superior Returns w/ Lowest Breakeven Price Excellent value achieved relative to recent transactions Breakeven by Basins 90 MRO now uniquely positioned in 75 the lowest breakeven oil rich Breakeven /boe** 60 basins…
  7. Scotia Howard Weil 45th Annual Energy Conference – Marathon Oil Corp – slide 7
    Compelling Rate of Change in Northern Delaware Industry well performance rapidly improving via enhanced completions Average Hz Well Performance (Lea & Eddy Co. NM) Northern Delaware industry well 150,000 performance consistently…
  8. Scotia Howard Weil 45th Annual Energy Conference – Marathon Oil Corp – slide 8
    Northern Delaware Basin Recent Well Results Eddy and Lea counties attracting rigs and capital MTDR: Airstrip State Com 201H Upper Wolfcamp CHAVES COUNTY IP24: 926 BOED (97% oil) 4,100 LL LEA COUNTY MTDR: Mallon 27 Fed Com 1H, 2H &…
  9. Scotia Howard Weil 45th Annual Energy Conference – Marathon Oil Corp – slide 9
    Acquisition Basis and Upside Potential Stacked pay provides multiple high quality drilling targets Northern Delaware Basin Stratigraphic Column Illustrative Well Density 5,000 of stacked pay with up to 10 target benches Brushy…
  10. Scotia Howard Weil 45th Annual Energy Conference – Marathon Oil Corp – slide 10
    Accelerating Value in Oklahoma Resource Basins Leasehold, delineation and downspacing prepare for 2018 full field development Anadarko Basin Increasing activity to avg 10 rigs in Stratigraphic Column Primary Targets Blaine…
  11. Scotia Howard Weil 45th Annual Energy Conference – Marathon Oil Corp – slide 11
    Eagle Ford Driving Efficiencies at Scale Maintenance levels with free cash flow generation Drilling Performance Eagle Ford generates significant free 3,000 175 cash flow with avg 6 rig activity level Drilling Cost Per Foot ()…
  12. Scotia Howard Weil 45th Annual Energy Conference – Marathon Oil Corp – slide 12
    Bakken on Track for Myrmidon Development Extending application of successful high intensity completions 2016 Bakken Peer Well Performance Increasing drilling activity avg to 6 rigs in 2017 160 Normalized 9,800 lateral 70 - 75 gross…
  13. Scotia Howard Weil 45th Annual Energy Conference – Marathon Oil Corp – slide 13
    Marathon Oil Takeaways Successful portfolio management enabling significant capital allocation shift and lower cost structure 90% of 2017 CAPEX to high return U.S. resource plays STACK and Northern Delaware first priorities…

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