StrategyU.S. Resource Play Focused
Marathon Oil has transitioned from portfolio transformation to execution delivery at scale across our U.S. resource plays. With more than 90% of our 2018 development capital allocation associated with the U.S. resource plays, our margins will naturally expand as a greater percentage of our production is sourced from these high quality assets.
Our relentless focus on portfolio management has driven seven country exits since 2013 and generated proceeds of more than $4 billion just in the last 2 years.
With our 2017 entry into the Northern Delaware in the Permian basin, we now enjoy a differentiated position as the only E&P active in the four best oil-rich U.S. resource basins.
Though many elements of our business are changing, one thing remains firm: our values. We remain steadfast in our commitment to be safe, responsible and ethical.
We thank all our dedicated employees who make such a difference in driving execution excellence. Their talent and innovation will continue to position us favorably through 2018 and beyond.
U.S. resource play average net production in 4Q 2017
Of 2018 Development Capital Budget allocated to high-return u.S. resource plays
Projected 2018 production mix from higher margin U.S. resource plays
digital oil field
Our digital oil field facility and automation tools boost production and reliability, and help lower emissions, spills and safety risk as the asset grows.
Using Best PracticesHydraulic Fracturing
In combination with advanced horizontal drilling technology, fracking makes it possible to develop oil and gas resources that were previously inaccessible.
Using data to take advantage of the linkage between innovation and operational excellence.
A return to new mexico
CEO Lee Tillman was an invited keynote at the 2017 New Mexico Oil & Gas Association's Annual Conference. Read his remarks about the Company's entry into the Northern Delaware.