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17 Pages

Marathon oil and gas exploration summary


Marathon oil and gas exploration summary

Report summary

Marathon Oil has made numerous strategic moves to protect its balance sheet since the oil price began falling in late-2014, including leveraging its flexible US tight oil portfolio to reduce spend by three-quarters since 2014 and improve breakeven economics. With its participation in large-scale, capital intensive conventional developments completed  in the near-to-medium term, future capital will be increasingly allocated to the company's core US Lower 48 growth plays, which will account for 89% of all spend by 2020. The unconventional assets have transformed the business with three core liquids-rich plays being major sources of organic unconventional reserves addition: the  Eagle Ford in south Texas, the SCOOP and STACK plays in Oklahoma, and the Bakken in North Dakota. As the company continues to focus on its US resource plays, its conventional exploration going forwards is effectively limited to fulfilling its commitments, primarily in West Africa.

What's included?

This report includes 2 file(s)

  • Marathon oil and gas exploration summary PDF - 908.55 KB 17 Pages, 6 Tables, 18 Figures
  • Marathon Oil.xls XLS - 604.50 KB

Description

Affected by supply and demand, the economy of individual countries and technological breakthroughs, oil and gas exploration is an industry in constant motion. The high costs of finding and developing new oil and gas fields that can be commercially developed has created a challenging atmosphere, with explorers increasingly seeing low returns, low value and slow progress.

This Exploration Summary report quantifies the company's exploration volume and value performance over the past 10 years, and reviews its outlook for future success.

Businesses can use this report to get a detailed analysis of this company, what exploration areas they're involved in, what wells to watch and how well placed they are. It will help you understand company performance and shows how the best explorers have achieved their success.

Wood Mackenzie benchmarks exploration results for over 40 companies. Our analysts provide accurate information on the cost of exploration compared to the value of discoveries so that you can develop profitable strategies. We are the established global industry standard for oil and gas exploration performance.

  • Executive summary
    • Basins drilled and all conventional & organic unconventional discoveries 2006-2015
  • Strategy
    • Upstream strategy
    • Exploration outlook
    • Evolution of exploration strategy
  • Investment and costs
  • Exploration
    • Well data
  • Reserves and resources
  • Production
    • Production from new field discoveries and organic unconventionals, and as a proportion of all future production
  • Valuation
    • Crystallising value through focused exploration followed by asset sales
    • Healthy volume and costs performance
    • Conventional exploration was being maintained but is now being de-emphasized
    • The importance of Marathon's US unconventional portfolio

In this report there are 24 tables or charts, including:

  • Executive summary
    • Executive summary: Image 1
    • Ten year performance summary
  • Strategy
    • SWOT grid
    • Net active exploration acreage by water depth
    • Net active exploration acreage by country
  • Investment and costs
    • Exploration & appraisal spend and reinvestment
    • Exploration & appraisal spend by water depth
    • Exploration & appraisal spend by basin maturity
    • Discovery costs by water depth
  • Exploration
    • Gross conventional exploration & appraisal wells by basin and sector
    • Exploration wells drilled and spend per well
    • Exploration success rates
  • Reserves and resources
    • Top 40 discoveries (2006 to 2015)
    • Reserves and resources: Table 2
    • Volumes discovered by year
    • Volumes discovered by water depth
    • Volumes discovered by country
    • Volumes discovered by basin
  • Production
    • Production: Image 1
  • Valuation
    • Full-cycle economics
    • Full cycle value creation by year, with uncons
    • Exploration returns by year, with uncons
    • Costs and development value by reserve category
    • Exploration returns by water depth
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