Marathon Oil’s ties to Okla., date back more than 100 years when in 1915 the oil giant drilled its first well here near the town of Cushing. Since then, the Anadarko Basin has been good to Marathon, most recently yielding 53 MBPD in Q1 production from the SCOOP/STACK. As a comparison, 2020 crude production from the two plays hit a total 488 MBPD. While Marathon’s activity here took a decidedly backseat last year to the company’s larger shale operations in the Bakken, Eagle Ford, and Delaware Permian, Marathon says it’s headed back to the Sooner State with a new drilling program focused on natural gas and NGLs. Reese Energy Consulting today is following the latest news from Houston-based Marathon—the fourth-largest operator in the SCOOP/STACK with 300,000 net acres—which looks to drill five but uncompleted wells in the second half to take advantage of favorable gas pricing. More Anadarko activity is planned in 2022. Marathon has earmarked 10% of its $1 billion CAPEX budget for Okla., operations.
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Marathon Oil Corporation is an American company engaged in hydrocarbon exploration incorporated in Ohio and headquartered in the Marathon Oil Tower in Houston, Texas. The company is ranked 534th on the Fortune 500 and 1900th on the Forbes Global 2000.