President and CEO of Marathon Oil Lee Tillman. Image courtesy of Marathon Oil.

Houston-based Marathon Oil president and CEO Lee M. Tillman said Thursday that the company will continue to expand its U.S. shale activities in 2015.

Tillman said Marathon will be boosting its presence at several shale plays across the United States including Bakken, Eagle Ford and the Oklahoma Resource basins.

Marathon has grown its U.S unconventional proved and probable resources to 3 billion barrels of oil equivalent across the Oklahoma Resource basins, Bakken and Eagle Ford this year, up 20 percent over 2013.

“We’ve been aggressively conducting pilots and delineation drilling across our three U.S. resource plays to test downspacing, enhanced completions and co-development,” Tillman said.

Marathon expects resource play production growth at a double-digit compound annual growth interest from 2015 to 2017.

The company also expects total production to grow over the same period.

Marathon has increased its future drilling inventory to 4,650 net wells.

Marathon will undertake initial acceleration of three incremental rigs, one in Bakken and two in Oklahoma, by the end of 2014. The company expects further acceleration in 2015.

Tillman said the fast-start rigs will help drive development in the South-Central Oklahoma Oil Province and the STACK shale play.

Marathon will also ramp up its efforts in Bakken to drive high density development into 2015.

Tillman said Marathon expects to release further details about its 2015 activities in December in conjunction with its 2015 capital, investment and exploration budget.


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