Houston-based Marathon Oil said last week it expects 2022 production to remain flat with 2021 averages. In 2022Q1 production averaged 281,000 boed and 158,000 bod; 57 wells were brought online (consistent with guidance of 50 to 60 wells to sales). Production in Eagle Ford for 2022Q1 was 53,000 bod and 80,000 boed with 28 wells to sales. Northern Delaware Basin production averaged 20,000 boed and 11,000 bod. Lee Tillman, chairman, president and CEO, said May 4, “The company continues to expect oil and oil-equivalent production to remain flat with the 2021 averages.”
Three-quarters of 2022 capex has been allocated to Eagle Ford and Bakken with the remainder to be spent in Permian Basin and Oklahoma. Marathon said it will return to “regular activity” in Permian and Oklahoma in 2022 after turning only 11 wells to sales there in 2021.