Company Report
Marathon oil and gas exploration summary
Report summary
Following the oil price collapse, Marathon Oil Corporation made a strategic decision to simplify and concentrate its portfolio on lower-cost, higher-margin US resource plays. Its portfolio has undergone deep restructuring, with most conventional, international assets being offloaded, and capital recycled into tight oil acquisitions. Conventional exploration has largely been dropped as a growth option. The company now has exposure to the four leading US tight oil plays – the Eagle Ford, Bakken, Mid-Continent and the Permian – all of which compete for capital following operating performance improvements and cost reductions achieved through the downturn. As the company continues to focus on these plays, its conventional exploration going forwards is effectively limited to fulfilling its commitments, primarily in the US GoM and West Africa. Full details are provided in our report, and all data and analysis can be downloaded in excel and pdf format.
Table of contents
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Upstream strategy
- SWOT grid
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Well data
- Crystallising value through focused exploration followed by asset sales
- Healthy volume and costs performance
- Conventional exploration was being maintained, but has now been dropped
- Evolution to (nearly) a pure US unconventionals player
Tables and charts
This report includes 19 images and tables including:
- Gross conventional exploration & appraisal wells by basin and sector
- Exploration wells drilled and spend per well
- Exploration success rates
- Top 40 discoveries (2009 to 2018)
- Key organic unconventional plays
- Volumes discovered by year
- Volumes discovered by water depth
- Volumes discovered by country
- Volumes discovered by basin
- Production from new field discoveries and organic unconventionals, and as a proportion of all future production
- Full-cycle economics
- Exploration & appraisal spend and reinvestment
- Exploration & appraisal spend by water depth
- Exploration & appraisal spend by basin maturity
- Discovery costs by water depth
- 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
What's included
This report contains:
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