Marathon Announces 2013 Budget

Marathon Oil today announced its 2013 capital budget of $5.2 billion. Approximately one-third of that amount, or $1.9 billion, is allocated to the Eagle Ford shale play in south Texas. Marathon said it plans to spend nearly $800 million in the Bakken shale in North Dakota and $150 million in the Oklahoma resource basin. With that, the company plans to drill 65 - 70 net wells (190 - 220 gross, 60 - 70 Company operated) in the Bakken and 15 - 19 net wells (42 - 50 gross, 12 - 14 Company operated) in the Oklahoma resource basin. Read more