Oklahoma 2018

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OKLAHOMA: KEY PLAYERS 20 | November 2018 | Marathon Oil Co. E&P company Marathon Oil has operations focused on four oil-rich U.S. resource plays: Eagle Ford, Bak- ken, Oklahoma and Permian. In Oklahoma Mar- athon's focus "has been delineation and leasehold protection in the Meramec play in the Stack and delineation of the Woodford and Springer plays in the Scoop, as [it] moves toward infill development," the company stated on its website. Marathon's Oklahoma second-quarter produc- tion averaged 80,000 net boe/d, up 7% sequentially, according to the company's second-quarter 2018 results report. Marathon reported crude oil and con- densate of 18,000 bbl/d, NGL of 24,000 bbl/d and natural gas of 230 MMcf/d in the second quarter. Additionally, a four-well Lightner Scoop Woodford infill pad delivered an average 30-day IP rate of 2,620 boe/d (48% oil) on equivalent eight-well per section spacing. In the Stack, four Meramec wells in the Siegrist infill pad achieved an average 30-day IP rate of 900 boe/d (71% oil, 4,505-ft average lateral length). Midstates Petroleum Co. Inc. Independent E&P company Midstates Petroleum Co. (MPO) has operations in oil fields in the Mis- sissippian Lime play in Oklahoma. The company grew Mississippian Lime produc- tion to 17,202 boe/d in the second quarter, an 11% increase from 15,518 boe/d in the first quarter. Production of 17,202 boe/d in the second quarter consisted of 28% oil, 23% NGL and 49% natural gas, according to the company. MPO recently brought online its first two Mis- sissippian Lime 2-mile laterals at an average com- pleted well cost of $3.6 million (an implied $1.8 million per 1-mile lateral), achieving an average two-stream initial 24-hour peak rate of approxi- mately 950 boe/d (36% oil) per well. Additionally, MPO closed on the sale of its Anadarko Basin producing properties in June for $58.0 million; net proceeds were approximately $54 million, subject to post-closing adjustments, according to the company. Newfield Exploration Co. Newfield Exploration is focused on domestic, liq- uids-rich unconventional resource plays located in the Anadarko and Arkoma basins of Oklahoma. Newfield has more than 500,000 net acres in the Anadarko and Arkoma basins. The largest produc- ing area in its portfolio is located in the Anadarko Basin with approximately 400,000 net acres in its Scoop and Stack plays, according to the company's website. At year-end 2017, the Anadarko Basin com- prised 70% of the company's total proved reserves. "During 2017 Newfield participated in approx- imately two dozen resource expansion tests in the Sycamore, Caney, Osage and Meramec/Woodford Extension (Score) areas. [The company's] efforts Newfield's Sharon May production facility located in the Scoop play in the Anadarko Basin of Oklahoma. (Photo courtesy of Newfield Exploration)

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