Marathon Oil Explodes onto the Niobrara Play with 75 Well Permit Requests

Marathon Oil Company in a bold and unprecedented move seeks to have up to 75 Niobrara/Codell wells authorized for drilling within approved spacing units by the COGCC at it’s July 9 -10 hearing. The requested well permits are all located in Weld county’s prolific Wattenberg field.  Marathon Oil has 144,000 net acres leased in the play to date, and  continues to “core up” its acreage position through trades.

In the 1st quarter of 2012 Marathon Oil told investors that it had plans to drill 17 – 24 wells in 2012. The company previously had 6 wells with observed rates of production of up to 500 BOPD. The company also has a gas gathering infrastructure under construction.

Marathon is planning to drill up to 4 horizontal wells per requested spacing unit in most of their requests. If approved and permitted, these 75 wells will make Marathon Oil a major player in the Niobrara along with EOG Resources, Noble Energy, Encana, Carrizo, and others. Details on Marathon Oil’s permit requests are available at the COGCC July 9-10 Docket List.

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