Topic: Oklahoma Shale

Marathon Unveils $2.2 Billion 2017 Capital Program

On February 15, 2017, Marathon Oil Corporation (NYSE: MRO) announced results from Q4 and FY 2016 and unveiled a 2017 capital program of $2.2 billion, with over 90 percent allocated to its high-return U.S. resource plays. Oklahoma Led Production in the Fourth Quarter On the operations side, Marathon’s production averaged 341,000 BOED in Q4 2016, with assets in the Oklahoma Resource Basins reporting a production increase of 60% over Q4 2015. E&P production costs for North America were down more than 30%...

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Proppant Insights: Decoupling of Supply Chain Continues

The volatility during the quarter caused more uncertainty in the industry, even though oil stabilized near $40 at the end of Q1’16, Many now believe that “the bottom” was reached earlier this year. In-basin Delivery Becomes Vital The logistics of getting to the wellsite are challenging to say the least. The last mile trucking from terminal to well site is critical, especially in today’s market. Numerous frac sand suppliers and chemical supplier relayed stories of E&P’s expecting in-basin delivery of supplies in...

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WTI Crude Knocked below $50 and US Land Rigs at 1735

With the WTI oil price trading under $50 / bbl and the crude Brent oil price near $50 / bbl, the rig counts continue to drop confirming our expectations.There has been a -25 drop in rigs with depths of >10K, with the biggest losses occurring in Texas with -18 and Colorado at -2 compared to last week. US Land Rig Count Declines The overall rig count is -25 at 1735 compared to last week with the horizontal rig count down -13 from the...

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