Yahoo!Financial: MRO
3rd Quarter 2009, results: “Marathon currently has three rigs running in its Bakken program with plans to add a fourth rig late in the fourth quarter of 2009. Net production at the end of the third quarter amounted to approximately 11,000 boepd, compared to 7,300 boepd at the end of the third quarter 2008. Marathon's total Bakken leasehold in North Dakota is approximately 335,000 net acres.”
7,300 * $50 = $365,000/day
11,000 * $70 = $770,000 day = $281 million/year just off a few wells in the Williston Oil Basin.
Oh, by the way, Marathon has 42 wells on the confidential list (November 3, 2009).
Tuesday, November 3, 2009
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