Marathon Oil to https://www.canadagooseparkasoutlet.ca boost rig activity in 2014
Shares edge higher (Adds share price, details on asset sale)
By Anna Driver
HOUSTON, Dec 11 canada goose deals (Reuters) Marathon Oil Corp will increase the Canada Goose sale number of rigs running in its oil producing website canada goose clearance sale fields in Texas and North Canada Goose Jackets Dakota next year and try to sell assets in Norway and the United Kingdom, Chief Executive Lee Tillman said canada goose clearance in an interview.
Marathon proven ability Canada Goose Outlet to increase output from its Bakken acreage in North Dakota, the Eagle Ford shale in southern Texas and the Woodford shale in Oklahoma bringing in more rig activity to drive those resources to profitable volumes, Tillman told Reuters ahead of an analysts meeting.
The company plans to operate 28 rigs in 2014 in the targeted regions, canada goose store up from 22 Canada Goose Coats On Sale this year. canada goose replica Oil and canada goose coats gas output from the Woodford, canada goose coats on sale Bakken and Eagle properties are forecast to rise 30 percent next year, as total company output rises 4 percent.
Wall Street is looking to Tillman, 2018 canada goose outlet a former engineering executive at Exxon Mobil Corp who took the CEO spot at Marathon in August, to reshape the company strategy after lackluster production growth and share underperformance. exploration and production companies including Hess Corp have been shedding international canada goose black friday sale properties and spending more to drill in North American shale fields, which can offer higher returns cheap Canada Goose and lower risk.
Marathon plans, which include buy canada goose jacket increasing its share Canada Goose Parka buyback to up to $2.5 billion, are aimed at lifting its stock price and returns, Tillman said.
Shares canada goose outlet store locations of Houston buy canada goose jacket cheap based Marathon, which have risen 18 percent this year but underperformed a 24 percent gain in Canada Goose online the SIG Exploration and Production index, rose slightly on the New York Stock Exchange Wednesday. liquids resource plays, making it easier to grow production, analysts at CapitalOne Southcoast wrote in a note to clients.
At the analyst meeting in New York on Wednesday, Goldman Sachs analyst Arjun Murti questioned the company strategy to boost production at a time when the United States is producing the most crude in more than 20 years and some fear a supply glut.
On Wednesday, Marathon forecast capital expenditures of $5.9 billion in 2014, up from $5.2 billion in 2013. More than half of that is earmarked for development of the canada goose company North American properties, it said.
are self funding our growth. That is our Canada Goose Online model, said Tillman, noting that capital spending would come from operating cash flows and proceeds from asset sales.
Marathon plans to sell its Brae complex and the Foinaven field in the United Kingdom as well as its Alvheim project in the North Sea, all of canadian goose jacket which are mature fields in decline.
Shares of Marathon rose 11 cents, or 0.3 percent, to $36.20 in afternoon NYSE canada goose outlet toronto factory trading. (Reporting by Anna Driver in Houston; Additional reporting by Selam Gebrekidan in New York; Editing by Terry Wade and Lisa Von Ahn).