Marathon Oil further supplemented its acreage position in the fourth quarter of 2011 and reaffirmed its guidance of 30,000 boe/d for 2012. The company is currently producing just 15,000 boe/d, but infrastructure constraints are holding production back. Marathon should easily hit its target as additional Eagle Ford pipeline and midstream gathering is brought online in conjunction with more drilling rigs. The company plans to have 18 rigs working by the third quarter of the year.
If you question whether they will be able to double production, just take a closer look at their fourth quarter numbers. Marathon only averaged a little over 9,000 boe/d, but the company exited the year with more than 15,000 boe/d.
Read more at Marathon’s Eagle Ford page.