M arathon Oil’s Eagle Ford assets will be the beneficiary of $1.9 billion in spending in 2013. Marathon released plans to spend $5.2 billion in 2013, with almost 40% of the total earmarked for South Texas.
Approximately 65% of the company’s budget is allocated to “Growth” assets and you guessed it. The Eagle Ford is a “Growth” asset for the company. That’s why $1.9 billion is allocated toward the Eagle Ford. Current plans call for the drilling of 275-320 gross (215-250 net) operated wells in 2013.
Ten percent of the budget, $190 million, will be spent on midstream infrastructure: central batteries and pipelines.
“About one-third of our overall budget, or $1.9 billion, is allocated to the Eagle Ford shale play in South Texas.” Clarence P. Cazalot Jr., CEO